SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s hybrid vehicle registrations are poised to hit an all-time high this year, reflecting both growing environmental consciousness and a temporary plateau in electric vehicle demand. According to data from the Carisyou data research institute, hybrid vehicle registrations from January to October reached 311,769 units, a 24.8% increase from [...]
SEOUL, Nov. 18 (Korea Bizwire) – Kia has significantly scaled back production of its EV9 electric SUV at its Georgia plant, as the automaker navigates stricter U.S. tax credit requirements and awaits the completion of local battery manufacturing facilities. According to Kia’s sales data, only 21 EV9s were produced at the Georgia plant through the third [...]
SEOUL, Nov. 18 (Korea Bizwire) — Railway workers launched a “work-to-rule” protest Monday, causing delays in subway services in the capital area, railway officials said. The labor slowdown was launched by the Korean Railway Workers’ Union to demand higher pay and a bigger workforce, with plans to begin an indefinite general strike early next month. [...]
SEOUL, Nov. 18 (Korea Bizwire) — The Seoul city government said Monday it will push to hire foreigners as “maeul” bus drivers to cope with a chronic manpower shortage in the transportation sector. Maeul buses, or village buses in English, operate on very short routes within local areas to connect residents to nearby major bus [...]
SEOUL, Nov. 17 (Korea Bizwire) – Hyundai Motor Company introduced its new Elantra N TCR Edition on November 17, incorporating technology and design elements from its successful motorsport program. The special edition model takes its name from the TCR (Touring Car Racing) World Tour, a racing series in which Hyundai has competed since 2017. The automaker [...]
SEOUL, Nov. 15 (Korea Bizwire) – The surprise appointment of Jose Munoz as the next chief of Hyundai Motor Co. strongly demonstrates the South Korean automotive giant’s determination to thoroughly prepare for increasingly uncertain market conditions, especially in America, following the reelection of former U.S. President Donald Trump, industry watchers said Friday. Munoz, currently Hyundai’s [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean battery stocks plunged Friday on reports that President-elect Donald Trump’s transition team plans to scrap the US$7,500 tax credit for EV purchases as part of broader tax legislation. Trump campaigned on ending the consumer tax credit, a key part of President Joe Biden’s Inflation Reduction Act (IRA). [...]
SEOUL, Nov. 15 (Korea Bizwire) — Hyundai Motor Co. said Friday it has donated eight Ioniq 5 electric vehicle (EV) units and EV-charging infrastructure funds to the United Nations World Food Programme (WFP) as part of its strategic partnership with the humanitarian aid agency. A hand-over ceremony was held at WFP’s fleet center in Dubai [...]
SEOUL, Nov. 15 (Korea Bizwire) — Hyundai Motor Co. on Friday promoted Jose Munoz, the company’s global chief operating officer (COO), as its new CEO, appointing a foreign national to the top post for the first time since its foundation more than five decades ago. Munoz has served as global COO of Hyundai Motor and [...]
SEOUL, Nov. 14 (Korea Bizwire) — Kia Corp. said Thursday it has signed a tentative agreement with DHL Korea Ltd. to supply its PV5 mid-sized electric cargo vehicles to the logistics firm from 2026. Under the memorandum of understanding signed Wednesday, Kia will begin supplying the PV5, the first in the company’s electric purpose built [...]