SEOUL, Aug. 16 (Korea Bizwire) – SsangYong Motor Co., the South Korean unit of Mahindra & Mahindra Ltd., said Tuesday its net losses narrowed in the first half from a year earlier, helped by increased exports. Net losses for the six months ending in June narrowed to 30.3 billion won (US$23 million) from 180.5 billion [...]
SEOUL, Aug. 16 (Korea Bizwire) — Sales of Chinese electric commercial vehicles such as buses and trucks jumped sharply in the first half of this year in South Korea, a report showed Monday. The number of Chinese electric commercial vehicles that were sold during the first half of this year in the domestic market stood [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Monday it ranked third in first-half global vehicle sales on increased high-end model sales despite the lack of automotive chips. Hyundai Motor Co., its independent Genesis brand and Hyundai’s smaller affiliate Kia Corp. sold a total of 3.299 million vehicles in global markets [...]
SEOUL, Aug. 12 (Korea Bizwire) — Hyundai Motor Group said Friday it will spend US$424 million to build an artificial intelligence (AI) research center in the United States to bolster its edge in robotics technology, an area it cites as a key future growth driver. Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. — [...]
SEOUL, Aug. 12 (Korea Bizwire) — A major association for South Korea’s car industry has sent a letter to the U.S. House of Representatives and requested changes in tax incentives proposed under a major climate change and energy bill, stressing that they could put Korean carmakers on an unequal footing. The Korea Automobile Manufacturers Association [...]
SEOUL, Aug. 10 (Korea Bizwire) — U.S. electric vehicle subscription company Autonomy said Tuesday it will buy 3,140 EVs from Hyundai Motor Co. and its affiliate Kia Corp. to strengthen its fleet lineup. On Tuesday (U.S. time), Autonomy placed an official order to receive 1,640 EVs from Hyundai and 1,500 EVs from Kia in a [...]
SEOUL, Aug. 8 (Korea Bizwire) — Hyundai Global Motors (HGM), the Indian unit of South Korean knock-down car manufacturer Global Motors, on Monday disputed a recent Indian court ruling against its alleged trademark violation of Korean auto giant Hyundai Motor Co., claiming it acquired the naming rights through a legal contract. HGM has been accused [...]
SEOUL, Aug. 8 (Korea Bizwire) — Hyundai Motor Group’s cumulative sales of eco-friendly vehicles surpassed the 1 million mark in July, 13 years after its entry into the green-car market, data showed Monday. The automaking giant said its two carmaking affiliates — Hyundai Motor Co. and Kia Corp. — sold a combined 29,484 environmentally-friendly vehicles [...]
SEOUL, Aug. 7 (Korea Bizwire) — Hyundai Motor Co. and its sister automaker Kia Corp. saw their combined exports of eco-friendly vehicles exceed 200,000 for the first time in the first half of this year, industry data showed Sunday. During the January-June period, the two giant carmakers in South Korea sold a combined 224,672 electric, [...]
SEOUL, Aug. 5 (Korea Bizwire) — Sales of Ferrari models are set to exceed 300 in South Korea this year amid growing demand for high-performance vehicles in Asia’s fourth-biggest economy, its importer said Friday. Forza Motors Korea Corp. (FMK), which imports Ferrari and Maserati models, said it sold 842 Maserati and 300 Ferrari models in [...]