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 [...]
SEOUL, Jan. 25 (Korea Bizwire) — Hyundai Motor Co. said Saturday it will produce hydrogen fuel-cell electric commercial vehicles in its Chinese plant to make inroads into the local electric vehicle market. In the China EV100 Forum held in Beijing from Jan. 10-12, Executive Vice President Lee In-cheon, head of Hyundai’s Commercial Vehicle Business Division, [...]
SEOUL, Jan. 24 (Korea Bizwire) — Hyundai Motor Co. and its labor union are in talks for an increase in production volume of the Grandeur sedan to meet rising demand for the face-lifted model launched late last year, the company said Friday. “The company and the union are in talks to produce more Grandeurs as [...]
SEOUL, Jan. 22 (Korea Bizwire) — Elliott Management, a U.S. hedge fund, has sold all its stakes in Hyundai Motor Group companies, industry sources said Wednesday, ending nearly two years of challenge to the carmaker’s controlling family over its governance structure. Elliott was not on any of the shareholder lists of Hyundai Motor Co, Kia [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Motor Co.’s Kona Electric vehicle has set a Guinness world record for the highest altitude achieved in an electric car, the company said Friday. The Kona Electric built in Hyundai Motor’s Indian plant reached the Saula Himal peak that is 5,731 meters high, beating the previous record height [...]
SEOUL, Jan. 17 (Korea Bizwire) — The GV80, the first sports utility vehicle (SUV) produced by Hyundai Motor Co.’s Genesis marque, is drawing the attention of even company employees. Hyundai hosted a test drive for all management staff at company headquarters on Thursday. As many as 1,560 employees applied for 160 seats available for the [...]
SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they have invested US$110 million in the U.K.-based electric vehicle startup Arrival as part of their future mobility strategy. Hyundai and Kia have made the investment to jointly develop electric commercial vehicles, such as vans and buses, for [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it aims to sell 24,000 GV80 models, the first sport utility vehicle under its independent Genesis marquee, in South Korea. The GV80 is the fourth model of the Genesis lineup, which is currently composed of the G70, G80 and G90 sedans. “The Genesis’s first [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday their combined sales in the United States rose 4.6 percent last year, helped by robust sales of SUVs. In 2019, Hyundai and Kia sold a combined 1,304,109 vehicles in the world’s most important automobile market, up 4.6 percent [...]
SEOUL, Jan. 8 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has partnered with Uber Technologies Inc. to foster an urban air mobility service in its latest move to take a lead in the fledgling business. Hyundai Motor and Uber signed a strategic deal, the first of its kind for the U.S. ride-hailing company, [...]