SEOUL, July 11 (Korea Bizwire) — Eco-friendly vehicles accounted for more than 30 percent of South Korea’s total car exports in the first five months of the year on strong overseas demand and the debut of two major electric vehicles made by local automakers in the U.S. market, data showed Monday. The value of exported [...]
SEOUL, July 10 (Korea Bizwire) — The sales of green cars, such as electric and plug-in hybrid vehicles, jumped more than 40 percent in South Korea in the first half of this year from a year earlier, industry data showed Sunday, reflecting the growing popularity of electrified vehicles in the country. The number of green [...]
SEOUL, July 7 (Korea Bizwire) — Hyundai Motor Co. said Wednesday that its second dedicated EV model IONIQ 6 achieved a drag coefficient of 0.21, the lowest among its car models. A lower drag coefficient indicates the object will have less aerodynamic drag, enabling more efficient driving. A car’s drag coefficient has an impact on [...]
SEOUL, July 5 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 13 percent last month from a year earlier as a chip shortage continued to affect vehicle production, an industry association said Tuesday. The number of newly registered foreign vehicles stood at 22,695 units last month, down from 26,191 units a year [...]
INCHEON, July 5 (Korea Bizwire) — SsangYong Motor Co. launched the all-new Torres SUV in South Korea on Tuesday, a week after a Seoul court approved a local consortium as the final bidder for the debt-laden carmaker. The SUV-focused carmaker aims to get its business back on track within the next two years based on [...]
SEOUL, July 4 (Korea Bizwire) — South Korean top carmaker Hyundai Motor Co. has officially scrapped a plan to build a liquefied natural gas (LNG)-powered thermal power plant that it had pursued as part of a carbon neutral strategy. The company said it had mulled over constructing an LNG power plant to reduce carbon emissions [...]
SEOUL, July 2 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. saw their sales in the United States fall 12.7 percent on-year in the first half of the year due to a slowdown and a chip shortage, the companies said Saturday. Hyundai and Kia sold a combined 702,875 vehicles in the [...]
SEOUL, July 1 (Korea Bizwire) — Hyundai Motor Group and the renowned Rhode Island School of Design (RISD) on Thursday announced a research collaboration under the theme of sustainable future design. This research collaboration represents their third joint study following research into future mobility in 2020 and future cities in 2021. This year, four teams [...]
SEOUL, June 30 (Korea Bizwire) — Hyundai Motor Group said Thursday it is setting up a new investment affiliate in the United States, in a follow-up to its pledge to invest US$10.5 billion in the world’s largest economy. The new affiliate, tentatively named HMG Global, will be established in Delaware and funded by Hyundai’s three [...]
SEOUL, June 30 (Korea Bizwire) — Hyundai Motor Co. has teamed up with South Korean and Czech hydrogen associations and private hydrogen-related enterprises in both countries to establish a hydrogen industrial foundation in the Czech Republic. The carmaker and its logistics unit Hyundai Glovis Co. on Tuesday (local time) signed a memorandum of understanding with [...]