SEOUL, Feb. 5 (Korea Bizwire) — Automakers in South Korea, both domestic and foreign, are slashing electric vehicle (EV) prices this month in response to slowing demand and the entry of Chinese manufacturers into the market. Industry analysts suggest that established players, including Hyundai and Kia, are defending their market share against price-competitive models from China’s [...]
LOS ANGELES, Feb. 5 (Korea Bizwire) — Hyundai and Kia, along with other global automakers, have launched operations for their joint electric vehicle (EV) charging venture, Ionna, marking a significant expansion of EV infrastructure across the United States. Hyundai announced on February 4 that Ionna, established last year to develop a robust North American charging network, [...]
SEOUL, Feb. 4 (Korea Bizwire) - Hyundai Motor Group said Tuesday it received high praise at recent major automotive awards in Britain and the United States, winning multiple honors across its three automotive brands. At the 2025 What Car? Awards, a prestigious British automotive awards event, Hyundai and Kia secured seven wins, with key models, [...]
SEOUL, Feb. 2 (Korea Bizwire) — Volvo Cars Korea announced on Monday the official launch of the EX30, its premium electric sports utility vehicle (SUV), in the South Korean market. The EX30, which sold nearly 100,000 units globally last year, emerged as the best-selling premium electric vehicle (EV) in Europe among non-EV-exclusive brands, with 78,032 units [...]
SEOUL, Feb. 3 (Korea Bizwire) - Hyundai Motor Co. said Monday it has started accepting preorders for the Ioniq 9, the automaker’s first large electric sport utility vehicle (SUV), in South Korea. The Ioniq 9 is equipped with a 110.3 kilowatt-hours (kWh) battery, offering a maximum driving range of 532 kilometers per charge for the [...]
SEOUL, Jan. 24 (Korea Bizwire) — Cheil Worldwide announced on January 23 that it will spearhead the marketing launch of BYD’s passenger vehicle brand in South Korea, marking a significant move by the world’s largest electric vehicle manufacturer into the Korean market. The agency has already begun its campaign, releasing the first promotional video for BYD’s [...]
SEOUL, Jan. 24 (Korea Bizwire) — Hyundai Motor Co. said Friday it has partnered with Nexon Co. for a special collaboration event in the popular mobile racing game KartRider Rush+. As part of the event, players can experience virtual versions of Hyundai’s latest electric vehicles (EVs), such as the Ioniq 9, the company’s first large [...]
SEOUL, Jan. 23 (Korea Bizwire) — Hyundai Motor weathered a challenging year in 2024, achieving annual revenue of 175.2 trillion won ($125 billion) and operating profit of 14.2 trillion won ($10.1 billion). While these figures represent a 5.9% decline in operating profit compared to the previous year’s record-setting performance, analysts praised the company for mitigating [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s three major battery makers likely made all-time-high investments in research and development (R&D) activities last year despite a slowdown in electric vehicle sales, industry sources said Wednesday. LG Energy Solution Ltd. (LGES), Samsung SDI Co. and SK On are estimated to have invested more than 2.5 trillion [...]
SEOUL, Jan. 22 (Korea Bizwire) — The total number of registered vehicles in South Korea surpassed 26 million units last year, with eco-friendly cars accounting for over 10 percent for the first time, driven by growth in hybrid vehicle sales, the government said Wednesday. According to the Ministry of Land, Infrastructure and Transport, the total [...]