SEOUL, Nov. 2 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will work with Israeli engineers to develop cutting-edge mobility technologies as demand for next-generation vehicles is on the rise. The Korean carmaker will explore Israeli startups that have expertise in such areas as artificial intelligence, sensor fusion and cybersecurity for investment and joint [...]
SEOUL, Oct. 31 (Korea Bizwire) – Hyundai Motor Co., South Korea’s largest carmaker, has hired an ex-BMW platform expert for the overhaul of its luxury lineup, the company said Tuesday. Fayez Abdul Rahman, 58, will join Hyundai Motor on Wednesday to help develop the next-generation platform for Genesis sedans, and other luxury and high-performance models, Hyundai [...]
SEOUL, Oct. 26 (Korea Bizwire) – Hyundai Motor Co. said Thursday its third-quarter net profit fell 16 percent, due mainly to sharp declines in China sales amid a diplomatic row over the deployment of a U.S. advanced missile shield system here. In the July-September quarter, Hyundai Motor’s net profit fell to 939.2 billion won (US$835 million) from 1.12 trillion won a year earlier, the company said in a statement. The number [...]
SEOUL, Oct. 25 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest US$5 million in a U.S. vehicle research and development center, a move aimed at helping it develop next-generation automotive technologies. The South Korean automaking conglomerate has made the investment decision to seek cooperation in next-generation car technologies and test the technologies [...]
SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s Hyundai Motor Group said Thursday its sales in China plunged 42 percent in the January-September period amid the long-drawn bilateral diplomatic row over an anti-missile system. From January to September, Hyundai Motor Co. and its affiliate Kia Motors Corp. sold a combined 702,017 vehicles, down from 1.2 million units from a year earlier, according to the companies’ sales data. Hyundai Motor suffered [...]
SEOUL, Oct. 16 (Korea Bizwire) – The market share of Hyundai Motor Company and Kia Motors continues to plunge with no sign of recovery, with the figure hitting an eight-year low. The U.S. market share of the Hyundai Motor Group, which owns both Hyundai and Kia Motors, is at its lowest in eight years, placing the [...]
SEOUL, Oct. 16 (Korea Bizwire) – Hyundai Motor Co., South Korea’s largest carmaker by sales, said Monday it has strengthened its sub-brand Genesis lineup by adding a new model to help stimulate sales. The standalone brand launched the latest version of the G80 sedan equipped with either a 3.3-liter, a 3.3-liter turbo-charged, or a 3.8-liter [...]
SEOUL, Sept. 27 (Korea Bizwire) – Hyundai Motor Group has opened a big data center in China in a move to expand into one of the world’s largest automobile markets, the conglomerate said Tuesday. The first overseas data center in Guizhou Province began operations to pursue projects to develop localized connected car services for Chinese [...]
HWASEONG,Sept. 15 (Korea Bizwire) — Hyundai Motor Co.’s luxury sub-brand Genesis unveiled its entry-level G70 sedan Friday to tap into the fast growing segment, which is currently led by premium European marques, such as BMW’s 3 series and the Mercedes-Benz C-class. The G70 is the latest model in the luxury lineup and slots in under [...]
SEOUL, Sept. 12 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. will not sponsor a Chinese golf event this year, officials in Seoul said Tuesday, amid an escalating diplomatic row over the deployment of an advanced U.S. missile defense system in South Korea. An official with Hyundai said that the automaker’s Chinese unit Beijing [...]