SEOUL, April 22 (Korea Bizwire) — Hyundai Motor Co. said Thursday its first-quarter net profit nearly tripled compared to a year earlier on a base effect and an improved product mix. Net profit for the three months that ended in March soared to 1.52 trillion won (US$1.36 billion) from 552.68 billion won a year ago, [...]
SEOUL, April 21 (Korea Bizwire) — Hyundai Motor Co. has stopped the production of the Kona Electric for the domestic market in a move to phase out the model undergoing recalls over battery fires and shift its focus to Ioniq 5 EVs, company officials said Wednesday. The Kona EV is Hyundai’s bestselling EV model launched [...]
SEOUL, April 21 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. said Wednesday it has collaborated with K-pop icon BTS to suggest people take eco-friendly actions in their daily lives to protect the environment in a campaign film celebrating Earth Day. In the one-minute YouTube video themed “For Tomorrow We Won’t Wait,” BTS raises [...]
SEOUL, April 20 (Korea Bizwire) — Hyundai Motor Group, South Korea’s largest automotive conglomerate, is mulling the sale of its railway business affiliate, industry sources said Tuesday. The group is considering selling Hyundai Rotem Co.’s loss-making railway business, according to the sources. Hyundai Motor Co., the group’s crown jewel, is the largest shareholder in Hyundai [...]
SEOUL, April 20 (Korea Bizwire) — After years of being mired in losses, South Korean auto giant Hyundai Motor Group is mapping out its new China strategy to regain its past glory in the world’s largest auto market with a raft of electric vehicles and luxury models. While the country’s largest automaking group has basked [...]
SEOUL, April 19 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group on Monday introduced its electric vehicles (EVs) across Hyundai Motor, Kia and Genesis brands at the Shanghai Motor Show to target the fast-growing EV market. The world’s No. 5 automotive group by sales showcased three electric models at the Shanghai International Automobile [...]
SEOUL, April 16 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Friday it will collaborate with local battery maker SK Innovation Co. to develop the battery system for its upcoming hybrid electric vehicles (HEVs). The pouch-type battery cell will be topped on HEVs to be released by the automotive group’s two affiliates [...]
SEOUL, April 15 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will launch the IONIQ 5 all-electric vehicle in the domestic market next week as its production resumed this week. Hyundai plans to launch the IONIQ 5 model on Monday, and government subsidies will be available for EV purchases from Wednesday, a company spokesman [...]
SEOUL, April 15 (Korea Bizwire) — Hyundai Motor Group said Thursday it will launch more than 20 electric models in China by 2030 as it is struggling to revive sales in the world’s biggest automobile market. Hyundai Motor Co. and affiliate Kia Corp. will gradually launch 21 hydrogen fuel-cell electric and other electrified vehicles, including [...]
SEOUL, April 14 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. — South Korea’s two biggest carmakers — are expected to have raked in solid earnings in the first quarter of the year on a base effect and an improved product mix, analysts said Wednesday. In the first quarter of 2020, Hyundai [...]