SEOUL, May 18 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Wednesday it will invest 21 trillion won (US$16.5 billion) to expand its domestic electric vehicle production capacity and develop related technologies by 2030. Hyundai Motor Co. and its affiliate Kia Corp. will spend most of the planned investments in expanding their existing EV [...]
SEOUL, May 10 (Korea Bizwire) — Small-sized trucks like the Porter and Bongo have emerged as Hyundai Motor Group’s best-selling models this year. Hyundai Motor Co. sold 8,423 units of Porter at home last month, making the truck its best-selling model, while sister company Kia Corp. sold 6,402 units of Bongo, also ranking as the [...]
SEOUL, April 21 (Korea Bizwire) — Hyundai Motor Group is joining hands with retail giant Lotte Group and the asset management arm of the KB Financial Group to set up infrastructure for ultra-fast charging stations for electric vehicles (EVs). The three companies signed an agreement to establish a special purpose company (SPC) dedicated to the [...]
SEOUL, March 28 (Korea Bizwire) — Hyundai Motor Group’s cumulative sales of eco-friendly vehicles in the United States surpassed the 500,000-unit mark in February, 11 years after its entry into the American market, the group said Monday. The group’s two flagships — Hyundai Motor Co. and Kia Corp. — sold a combined 15,218 environmentally friendly [...]
SEOUL, March 21 (Korea Bizwire) — Major overseas units of South Korean automaking titan Hyundai Motor Group were profitable in 2021 on brisk sales of eco-friendly vehicles and increased capacity utilization, company data showed Monday. Hyundai Motor Co., the group’s flagship, said its U.S. production unit swung to a net profit of 237 billion won [...]
SEOUL, Dec. 29 (Korea Bizwire) — Hyundai Motor Group has formulated a plan to help small merchants that are suffering from the prolonged COVID-19 pandemic as part of its social contribution program ‘Gift Car.’ The group announced on Tuesday that it will launch the ‘Gift Car On Air’ campaign to help small businesses typically accustomed [...]
SEOUL, Jan. 18 (Korea Bizwire) — With increasing uncertainty in the automotive industry as the pandemic drags on, Hyundai Motor Group is facing a dilemma over the construction of its planned Global Business Center (GBC), a life’s dream for honorary chairman Chung Mong-koo. The world’s fifth-largest automotive group is currently split over whether to build [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Motor Group’s environment-friendly vehicle sales in the global market jumped 36 percent to over 500,000 units in 2020 from a year earlier, industry data showed Sunday. Hyundai Motor Co., South Korea’s top automaker, and its affiliate Kia Motors Corp. sold a total of 501,487 units of eco-friendly models, [...]
SEOUL, Sept. 21 (Korea Bizwire) — The market value of South Korean auto giant Hyundai Motor Group has recovered to the 100 trillion-won (US$85.9 billion) level after more than 28 months thanks to brisk sales of hydrogen and electric vehicles, data showed Monday. The total market capitalization of Hyundai Motor Co. and 11 other listed [...]
SEOUL, Jan. 30 (Korea Bizwire) — Hyundai Motor Group’s three key affiliates posted stellar performance last year with their operating profit jumping 44 percent on a weak won and robust sales of sport-utility vehicle models. For the whole of 2019, Hyundai Motor Co., Kia Motors Corp. and auto parts maker Hyundai Mobis Co. posted a [...]