SEOUL, Jan. 23 (Korea Bizwire) — Hyundai Motor weathered a challenging year in 2024, achieving annual revenue of 175.2 trillion won ($125 billion) and operating profit of 14.2 trillion won ($10.1 billion). While these figures represent a 5.9% decline in operating profit compared to the previous year’s record-setting performance, analysts praised the company for mitigating [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it seeks to sell at least 58,000 units of its newly facelifted Palisade SUV in the domestic market by leveraging its hybrid and new nine-seat variants. The newly overhauled Palisade comes six years after the model’s debut in November 2018. The 2.5 turbo gasoline [...]
SEOUL, Jan. 15 (Korea Bizwire) — The global market for electric vehicles (EVs) is expected to see significant growth this year driven by the plug-in hybrid electric vehicle (PHEV) segment, while the battery electric vehicle (BEV) segment may continue to face challenges, a think tank run by Hyundai Motor Group said Wednesday. Yang Jin-soo, head [...]
SEOUL, Jan. 10 (Korea Bizwire) — Hyundai Motor Group said Friday it has formed a strategic partnership with Nvidia Corp. for the development of advanced artificial intelligence (AI) technologies related to future mobility. Through the partnership signed in Las Vegas on Thursday (local time), the group plans to enhance key mobility solutions, including those for [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Group on Thursday pledged to invest a record 24.3 trillion won (US$16.6 billion) in South Korea this year to bolster future competitiveness amid uncertain global business environments. The annual investment plan represents a more than 19 percent increase from last year’s domestic investment of 20.4 trillion won, [...]
SEOUL, Jan. 6 (Korea Bizwire) – The head of Hyundai Motor Group on Monday emphasized the importance of resilience, innovation and proactive preparation in facing future challenges expected from ongoing global risks, as well as anticipated rollbacks in the electric vehicle (EV) policies of the United States. At a group-wide New Year’s Greetings event held [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Thursday it will join hands with Google to strengthen its automotive software system and deliver next-generation navigation and infotainment experiences for drivers. Under the partnership, Hyundai Motor will adopt Google’s Android Automotive Operating System (AAOS) and use Google Maps’ geolocation information [...]
SEOUL, Dec. 8 (Korea Bizwire) – Hyundai Motor Group revealed that one in four of its cars sold this year was purchased in the United States, marking a significant milestone in the automaker’s history. Between January and November, Hyundai and Kia sold 1.55 million vehicles in the U.S., accounting for 25.1% of the group’s global sales [...]
SEOUL, Dec. 5 (Korea Bizwire) — Unionized workers at Hyundai Motor Co. will stage a partial strike this week in solidarity with an umbrella labor union’s walkout against President Yoon Suk Yeol’s short-lived martial law declaration, according to the company’s union Thursday. Hyundai’s 43,000-strong union will hold a four-hour strike each on Thursday and Friday [...]
SEOUL, Nov. 28 (Korea Bizwire) — Hyundai Motor Co. on Thursday introduced a new wearable robot device for industrial workers that increases working efficiency, reducing chances of musculoskeletal injuries. The company’s Robotics Lab, which is operated jointly with affiliate Kia Corp., unveiled the device, named X-ble Shoulder, at a tech day event held at Hyundai [...]