SEOUL, May 13 (Korea Bizwire) – Within Hyundai Motor Company, there is a growing perception that Audi customers are starting to buy Genesis models, according to industry sources on May 12. This assessment is backed by more than just surface-level sales figures. Some imported car brands, unable to withstand the Genesis onslaught, are downsizing operations in [...]
SEOUL, May 10 (Korea Bizwire) – The industry ministry said Friday it has inked a memorandum of understanding with Airbus SE for the European aerospace giant to launch a new research and development (R&D) center in South Korea. Industrial Policy Director General Lee Seung-ryeol reached the agreement during his meeting with Francisco Segura, the chief [...]
SEOUL, May 9 (Korea Bizwire) – HD Hyundai, in collaboration with Palantir Technologies, has unveiled its artificial intelligence-based unmanned surface vessel (USV), codenamed Tenebris, at the AI Expo for National Competitiveness held in Washington D.C. on May 7 and 8. The event, hosted at the Walter E. Washington Convention Center, attracted over 150 major U.S. defense [...]
SEOUL, May 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Thursday it plans to build a 90 billion-won (US$65.8 million) electric vehicle (EV) module plant in the country’s southeastern industrial city of Ulsan. The company signed a memorandum of understanding with the city government of Ulsan, 299 kilometers southeast [...]
SEOUL, May 9 (Korea Bizwire) — U.S. automotive company BorgWarner Inc. has opened a research and development center in South Korea, which is expected to help stabilize the supply chain in the sector, the industry ministry said Thursday. The new center, located in Daegu, 237 kilometers south of Seoul, will focus on developing integrated driving [...]
SEOUL, May 9 (Korea Bizwire) – The Tesla Model 3 surpassed the Mercedes-Benz E300 4Matic and BMW 520 to become the best-selling imported vehicle in South Korea last month, according to data from the Korea Automobile Importers and Distributors Association (KAIDA). Tesla’s Model 3 Highland topped the registration charts as the single most popular imported model [...]
SEOUL, May 8 (Korea Bizwire) – South Korea’s auto exports climbed 10.3 percent in April from a year earlier, data showed Wednesday, on the back of strong demand for eco-friendly cars from North America. The combined value of car shipments came to US$6.8 billion last month, beating the previous record of $6.53 billion tallied in [...]
SEOUL, May 8 (Korea Bizwire) – Kia Motors unveiled the first teaser images and video for its highly anticipated EV3 on May 7, a compact electric SUV that aims to spearhead the mass adoption of electric vehicles and expand the company’s EV lineup. The EV3 is Kia’s third dedicated electric model following the EV6, the brand’s [...]
SEOUL, May 7 (Korea Bizwire) — North Korea’s external economic relations minister has expressed intent for his country’s cooperation with Iranian automaker Saipa during a recent rare trip to Tehran. Yun Jong-ho made the remark as he visited a booth run by Iran’s second-largest automaker at a trade show in Tehran during his 10-day stay [...]
WASHINGTON, May 6 (Korea Bizwire) — South Korea has raised its automotive industry’s concerns with the United States over Washington’s inquiry and envisioned rules to address potential security risks from “connected vehicles” that use technology from China and other countries of concern. On April 30, the South Korean government submitted its comments to the U.S. [...]