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Hyundai Unveils ‘Encino’ Subcompact SUV in China Auto Show

Hyundai Unveils ‘Encino’ Subcompact SUV in China Auto Show

SEOUL, Nov. 17 (Korea Bizwire) – Hyundai Motor Co. has introduced the ‘Encino’ subcompact sport-utility vehicle in a Chinese motor show, in a move to revive sales in the world’s biggest automobile market, the company said Friday. In the 15th China Guangzhou International Automobile Exhibition, the country’s largest carmaker by sales has unveiled the Encino [...]

Hyundai Motor Ties Up with Michelin for EV Tires

Hyundai Motor Ties Up with Michelin for EV Tires

SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]

FTC to Investigate Private Foundations Owned by Major Companies

FTC to Investigate Private Foundations Owned by Major Companies

SEOUL, Nov. 2 (Korea Bizwire) – The head of the Fair Trade Commission, Kim Sang-jo, announced plans to investigate the management of private foundations owned by major companies, as part of efforts to reform conglomerates and improve transparency, during a policy meeting today. The FTC made the announcement at today’s policy gathering in Seoul with [...]

Hyundai Motor to Work with Israeli Engineers in Mobility Technology

Hyundai Motor to Work with Israeli Engineers in Mobility Technology

SEOUL, Nov. 2 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will work with Israeli engineers to develop cutting-edge mobility technologies as demand for next-generation vehicles is on the rise. The Korean carmaker will explore Israeli startups that have expertise in such areas as artificial intelligence, sensor fusion and cybersecurity for investment and joint [...]

Hyundai Motor Q3 Net Dips 16% on China Setback

Hyundai Motor Q3 Net Dips 16% on China Setback

SEOUL, Oct. 26 (Korea Bizwire) – Hyundai Motor Co. said Thursday its third-quarter net profit fell 16 percent, due mainly to sharp declines in China sales amid a diplomatic row over the deployment of a U.S. advanced missile shield system here.  In the July-September quarter, Hyundai Motor’s net profit fell to 939.2 billion won (US$835 million) from 1.12 trillion won a year earlier, the company said in a statement. The number [...]

Hyundai to Invest $5 mln in U.S. Center for Mobility

Hyundai to Invest $5 mln in U.S. Center for Mobility

SEOUL, Oct. 25 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest US$5 million in a U.S. vehicle research and development center, a move aimed at helping it develop next-generation automotive technologies. The South Korean automaking conglomerate has made the investment decision to seek cooperation in next-generation car technologies and test the technologies [...]

Hyundai’s Sales in China Plunge 42% amid THAAD Woes

Hyundai’s Sales in China Plunge 42% amid THAAD Woes

SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s Hyundai Motor Group said Thursday its sales in China plunged 42 percent in the January-September period amid the long-drawn bilateral diplomatic row over an anti-missile system.  From January to September, Hyundai Motor Co. and its affiliate Kia Motors Corp. sold a combined 702,017 vehicles, down from 1.2 million units from a year earlier, according to the companies’ sales data. Hyundai Motor suffered [...]