SEOUL, May 11 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Monday it plans to launch a new large-size electric vehicle next year to absorb rising demand for environment-friendly vehicles. Hyundai Motor recently explained the planned launch of the electrified model, with the project name of NE, and its production [...]
SEOUL, May 8 (Korea Bizwire) — Hyundai Motor Co. on Friday said it has doubled its debt sale to 600 billion won (US$493 million) on strong demand amid the coronavirus impact on vehicle sales. Hyundai Motor sold the debt with a maturity period of three to seven years to refinance maturing dollar-denominated debt, the company [...]
SEOUL, May 6 (Korea Bizwire) — Hyundai Motor Group plans to begin construction of its Global Business Center (GBC), the company’s new headquarters, in southern Seoul this month. It is breaking ground six years after having purchased the land the buildings will stand on. The South Korean automotive group filed paperwork with the Seoul Metropolitan [...]
SEOUL, May 4 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday their U.S. plants will resume operations this week after taking thorough quarantine measures to guard against the new coronavirus. Hyundai and Kia plan to restart production at their plants in Alabama and Georgia, respectively, on May 4 (local [...]
SEOUL, April 28 (Korea Bizwire) — Hyundai Motor Co.’s planned 300 billion won (US$240 million) worth of corporate bond sales have received a strong market response despite the coronavirus impact on the automobile sector, financial sources said Tuesday. Hyundai will sell the debt with a maturity period of three to seven years on May 8, [...]
SEOUL, April 27 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Monday it is considering investing in an Israeli smart glass startup for cooperation in next-generation vehicles. Hyundai’s potential investment in Gauzy Ltd., which manufactures liquid crystal glass panels, known as smart glass, for use in a variety of industries [...]
SEOUL, April 23 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday its first-quarter net profit plunged 42 percent from a year earlier as the coronavirus outbreak disrupted production and sales, and offered a dim outlook for the second quarter amid virus fallout. Net profit for the January-March period fell to 552.68 billion won [...]
SEOUL, April 23 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, unveiled a special campaign video starring K-pop boy band BTS encouraging the global use of hydrogen on Wednesday, to celebrate Earth Day. The video talks about the ‘precious language of mother nature’ to emphasize the importance of sustainability when leaving [...]
SEOUL, April 21 (Korea Bizwire) — South Korea’s hydrogen fuel cell system technology, the so-called the ‘heart’ of hydrogen cars, is entering the American and European markets. This is the first time for South Korea to export the technology. The Ministry of Trade, Industry and Energy approved Hyundai Motor Co.’s technology export of a hydrogen [...]
SEOUL, April 12 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. are set to suffer a sharp decline in their first-quarter earnings due to a growing coronavirus impact on production and sales, data showed Sunday. Hyundai Motor is expected to post an operating profit of 700 billion won (US$577 million) for [...]