SEOUL, Aug. 21 (Korea Bizwire) — South Korean carmakers need to speed up developing all-solid-state lithium batteries and securing electric vehicle-related software capabilities to gain a bigger share in the era of electric vehicles (EVs), an auto industry expert has said. All current EVs are powered by lithium-ion batteries, which can catch fire once they [...]
SEOUL, June 13 (Korea Bizwire) — South Korean carmakers are increasingly choosing to facelift their existing models rather than develop entirely new vehicles amid the transition to electrification. KG Mobility, formerly known as SsangYong Motor Co., recently released another facelifted version of the Tivoli SUV, which was originally launched in 2015. This comes after the [...]
SEOUL, May 1 (Korea Bizwire) — As software-driven vehicles (SDVs) begin to shape the mainstream automobile landscape, more and more vehicles will be personalized to buyers’ preferences without the hassle of visiting an auto repair shop. Take the EV9, for example. Kia Corp. is set to launch its second dedicated electric vehicle, the EV9, in [...]
SEOUL, April 21 (Korea Bizwire) — South Korean carmakers’ global market share inched down in 2022 from a year earlier due largely to weaker sales in China and Russia, industry data showed Friday. Local automakers accounted for 7.3 percent of vehicle sales in the world’s eight major markets last year, down from 7.7 percent in [...]
SEOUL, March 10 (Korea Bizwire) — Boosted by the popularity of U.S. electric carmaker Tesla Inc., automakers are increasingly adopting online car selling platforms to revive sales in South Korea amid the prolonged COVID-19 pandemic. In 2017, Tesla began to sell its vehicles through an online platform in South Korea, raising questions over the effectiveness [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korean carmakers are placing a bigger focus on sales of high-end vehicles with higher margins as part of efforts to better cope with a possible decline in overall car sales resulting from the global economic slump. Hyundai Motor Co. saw its third-quarter sales jump by 30.6 percent year [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korean carmakers’ global market share slightly fell to 7.7 percent in the first half from a year earlier amid the extended chip shortage, industry data showed Sunday. From January to June, Korean carmakers sold a total of 2.1 million vehicles in the world’s eight major markets, down 9.9 [...]
SEOUL, Sept. 6 (Korea Bizwire) — Top domestic and imported automakers Hyundai Motor and Mercedes-Benz may give way to other competitors in sales performance this year. A total of 37,371 units of automobiles from Kia Corp. were newly registered last month, surpassing Hyundai (35,993 units including those from the Genesis brand) to become the top [...]
SEOUL, April 1 (Korea Bizwire) — South Korean carmakers’ sales fell 10 percent last month from a year earlier, as global chip supply disruptions continued to affect vehicle production and sales, industry data showed Friday. The five carmakers in South Korea — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Korea Motors and SsangYong [...]
SEOUL, Feb. 1 (Korea Bizwire) — Newly released South Korean automobiles are receiving positive feedback from media platforms and agencies in the U.S. and Europe. Hyundai Motor Co.’s all-electric IONIQ 5, all-new 2022 Tucson SUV and Genesis GV80 SUV have been selected by German motoring magazine Auto Bild as the Best Import Cars of the [...]