SEOUL, May 16 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it will expand its investment in U.S. wireless technology company Metawave for an improved partnership on autonomous vehicles. Hyundai Motor made an initial investment in Metawave last year in a bid to jointly develop cutting-edge radar technology for autonomous vehicles. This year, it will [...]
SEOUL, Apr. 27 (Korea Bizwire) — Sales and profits at Hyundai Motor fell in the first quarter of the year in the midst of an unfavorable global environment. The Korean carmaker hopes to boost its sales figures by releasing a number of new cars and SUVs in the second quarter. Hyundai released its earnings for [...]
SEOUL, Apr. 4 (Korea Bizwire) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., said Wednesday it has acquired more than US$1 billion worth of stocks in three major affiliates of Hyundai Motor Group, and asked for more efforts to improve corporate governance by the group. The three affiliates are [...]
SEOUL, Apr. 2 (Korea Bizwire) – GM Korea’s brand value has taken a hit amid a plant shutdown and labor-management conflicts, with its Chevrolet Spark and Malibu models slipping in the rankings. According to data released by Brandstock on Sunday, the Chevrolet Spark failed to rank in the top 100 most valuable brands in the South [...]
SEOUL, March 29 (Korea Bizwire) – Hyundai Motor Group’s plan to streamline its governance structure among affiliates will pave the way for future mergers and acquisitions and help it focus on its mainstay car manufacturing business, local analysts here said Thursday. On Wednesday, the country’s biggest carmaker announced it will spin off the module manufacturing and after-sales [...]
SEOUL, Mar. 29 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker, said Thursday that it has unveiled its Essentia concept at the New York International Auto Show. The all-electric, high-performance concept provides a vision of the future of the Genesis luxury sub-brand, the carmaker said. Hyundai Motor produces Genesis-badged models under an independent [...]
SEOUL, March 9 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, recently asked for the cooperation of its union to accept a cut in benefits as part of a broader move to ride out the unfriendly business environment, the company said Friday. In a letter sent to the union last Friday, [...]
SEOUL, March 6 (Korea Bizwire) – South Korea’s top carmaker, Hyundai Motor Co., has chosen this year’s first major auto show to display its latest concept, allowing the public to get a glimpse of its new design direction going forward, the company said Tuesday. Hyundai Motor took the wraps off its Le Fil Rouge concept car, developed under the project name of HDC-1, at the 88th Geneva International Motor Show [...]
ILSAN/PAJU, South Korea, Feb. 21 (Korea Bizwire) – Hyundai Motor Co.’s all-new Santa Fe sport-utility vehicle showed off its superior value proposition on the roads near Seoul ahead of its planned launches in global markets, starting with the United States this summer. In the 100 minutes-long 120 kilometer course through the towns of Ilsan and Paju, just northwest of the capital city, the fully-revamped Santa Fe, [...]
(image: Hyundai Motor) PYEONGCHANG, Feb. 5 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Monday it aims to have sold 10,000 hydrogen-powered NEXOs in global markets by 2022. The hydrogen fuel-cell electric vehicle will go on sale domestically next month and will be exported to major markets, such as Europe, [...]