SEOUL, Oct. 23 (Korea Bizwire) — LG Chem Ltd. said Tuesday that it will invest 2.1 trillion won (US$1.8 billion) by 2023 to build electric vehicle batteries in China in the latest move to meet growing demand for batteries for zero-emissions cars. South Korea’s top chemical company said it has broken ground for a three-story [...]
SEOUL, Oct. 10 (Korea Bizwire) — General Motors Co. is set to violate an initial agreement signed between the carmaker’s South Korean unit and the South Korean government by attempting to establish a separate R&D corporation, a lawmaker said Wednesday. In his policy review submitted as part of a parliamentary audit, Jung You-sub, a representative [...]
SEOUL, Oct. 2 (Korea Bizwire) — The manufacturing costs of South Korea’s No. 2 automaker, Kia Motors Corp., are forecast to rise due to the new US-Mexico-Canada Agreement (USMCA), a report showed Tuesday. According to the report by the Korea International Trade Association (KITA), automakers producing vehicles in Mexico and Canada for export to the [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Motor Co. said Monday it has invested in Indian car sharing firm Revv to supply it with vehicles and jointly develop new mobility services for Indian customers. Investment in the Delhi-based shared mobility platform is the latest in Hyundai’s series of investments in global car sharing companies as [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s government and ruling party lawmakers are pushing for a bill that would strengthen punitive damages against carmakers amid lingering public safety concern about BMW cars, officials said Monday. Youn Kwan-suk, a lawmaker of the ruling Democratic Party and a member of the parliamentary committee on Land, Infrastructure [...]
SEOUL, Aug. 9 (Korea Bizwire) — A group of 21 angry consumers filed a complaint against six top officials of BMW and its South Korean unit to press for a probe into a recent series of fires in vehicles amid growing worries over the German company. They lodged the complaint at Namdaemun Police Station in [...]
SEOUL, Aug. 6 (Korea Bizwire) — BMW Group on Monday officially apologized for the fires that consumed some of its vehicles and stressed that the hardware issue cited for the problem is not specific to South Korea. The statement came as the German luxury carmaker held an “urgent” press conference in Seoul to explain the [...]
SEOUL, Jul. 23 (Korea Bizwire) — SsangYong Motor Co. said Monday it will set up its first direct overseas sales subsidiary in Australia in November to absorb growing local demand for sport-utility vehicles. Upon the establishment of the Australian sales subsidiary, SsangYong Motor plans to launch the Tivoli and G4 Rexton, Rexton Sports SUV models [...]
SEOUL, May 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, said Wednesday it aims to make inroads into the global automotive digital instrument cluster market to generate future growth. Hyundai Mobis, the auto component affiliate of Hyundai Motor Group, said it began production of 7-inch digital instrument clusters [...]
Calgary, Canada, Mar. 6 (Korea Bizwire) — NovAtel, part of Hexagon’s Positioning Intelligence Division, has integrated its high-precision positioning engine and correction services with the world’s first automotive-grade multi-frequency GNSS chipsets, the STMicroelectronics Teseo APP (Automotive Precise Positioning) and Teseo V. The integration demonstrates future possibilities with regard to vehicle localization solutions. STMicroelectronics’s Teseo APP [...]