SEOUL, June 29 (Korea Bizwire) — Shares in Hyundai Motor Co. and its affiliate Kia Corp. plunged Wednesday, as German authorities have raided the carmakers’ local offices over suspicions they had installed defeat devices on some of their combustion cars. On Wednesday, Hyundai plunged 5.7 percent to 175,500 won (US$135.17), and Kia plummeted 6.1 percent [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it will unveil its second dedicated EV model IONIQ 6 at the Busan International Motor Show next month ahead of its local launch later this year. The IONIQ 6 is the second model embedded with Hyundai Motor Group’s own EV-only electric-global modular platform (E-GMP) [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it has released a customized service for those buying its mini SUV Casper. The custom package has a picnic theme and includes a cooler bag, a picnic mat, a board table that can be connected to the seat back board tray behind the passenger seat, [...]
SEOUL, June 28 (Korea Bizwire) — A Seoul court on Tuesday approved SsangYong Motor Co.’s decision to select a local consortium led by chemical-to-steel firm KG Group as the final bidder for the debt-laden carmaker. In the latest auction, the KG consortium beat underwear company Ssangbangwool in the overall criteria of acquisition prices, fundraising plans [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s Hyundai Motor Co. had the highest electric vehicle sales in Indonesia last month, an Indonesian automotive industry association said Sunday. Hyundai sold 196 EVs — 195 units of the IONIQ 5 and one unit of the IONIQ Electric — in the Southeast Asian market in May, according [...]
SEOUL, June 24 (Korea Bizwire) — South Korean underwear company Ssangbangwool said Friday it has submitted a bid for SsangYong Motor Co. in the auction to find a new investor for the debt-laden carmaker. SsangYong’s lead manager, the EY Hanyoung accounting firm, received bids from interested companies for SsangYong until 3 p.m. Friday. Ssangbangwool was [...]
DAEJEON, June 23 (Korea Bizwire) — A worldwide effort to develop heat management systems for electric cars and other eco-friendly vehicles for improved efficiency and longer range is gaining traction. The Korea Intellectual Property Office reported that the submission of patents related to an integrated heat management system for eco-friendly cars from five countries or [...]
SEOUL, June 22 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will launch the GMC brand in the second half, with the Sierra Denali set to be released as the brand’s launch model in the Korean market. GM’s decision to launch the GMC brand is part [...]
JEJU, June 20 (Korea Bizwire) — Lexus Korea said Monday it will launch its first dedicated pure electric model ‘RZ 450e’ next year as part of its plan to go all-electric by 2035. Lexus plans to introduce the RZ 450e large-sized SUV equipped with the battery electric vehicle (BEV)-only platform developed by Toyota Motor Corp. [...]
SEOUL, June 20 (Korea Bizwire) — Hyundai Motor Group said Monday it has extended a partnership with French tiremaker Michelin to develop high-end tires dedicated for upcoming electric vehicles. The South Korean automaker will collaborate with Michelin to develop tires for all-electric and environment-friendly vehicles for the next three years, the company said in a [...]