SEOUL, Apr. 3 (Korea Bizwire) — South Korea’s top automotive parts supplier Hyundai Mobis Co. said Sunday it will develop technologies for highway driving capable autonomous cars by 2020, with an aim to commercialize them two years later. The company plans to develop the autonomous driving technologies mainly to help two affiliates — Hyundai Motor [...]
MOSCOW/SEOUL, March 22 (Korea Bizwire) – Hyundai Motor Co. has launched a Genesis premium sedan in Russia to gain a share in the emerging market, the company said Wednesday. The country’s biggest carmaker by sales introduced the G80 sedan, an upgraded version of the second-generation Genesis (DH) unveiled in 2013, at an exhibition hall in [...]
SEOUL, March 16 (Korea Bizwire) – Nearly 1 million vehicles made by South Korea’s Hyundai Motor Co. will be recalled in the United States due to a defect found in the seatbelts, industry sources and the company said Thursday. The recall applies to some 978,000 units of Sonata and Sonata Hybrid models manufactured between 2011 [...]
SEOUL, March 12 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, said Sunday that it has sold over 30,000 units of the G80 midsized luxury car in the eight months since its launch here. The automaker’s G80, one of its luxury Genesis brand models, made its debut in the country in June last [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s leading automaker Hyundai Motor Co. has reportedly postponed the launch of its Sonata plug-in hybrid in China by nearly a year, company official said Wednesday, due to what many believe is China’s trade retaliation against the planned deployment of a U.S. air missile defense system to South [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor Co. suffered a huge setback in its profit in the fourth quarter of last year, the company said Wednesday. Net profit came to 1.07 trillion won (US$918.5 million) in the three months ended Dec. 31, down 30.1 percent from the same period in [...]
SEOUL, Jan. 2 (Korea Bizwire) – Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in 2016 due to a decline in overseas sales that more than offset an increase in sales here, data released by the carmakers showed Monday. The combined global sales of the five automakers [...]
SEOUL, Nov. 29 (Korea Bizwire) – Routine year-end corporate activities have been suspended this year as CEOs await a prosecutorial investigation over a presidential scandal, delaying reshuffles for next year’s business planning and bonus payments, corporate sources said Tuesday. At Samsung, the reshuffle of executive-level officers, usually carried out on the first Tuesday of December, [...]
SEOUL, Nov. 28 (Korea Bizwire) — Hyundai Motor Co. is considering suspending the sales of the Grandeur sedan, exported under the name Azera, in the United States, industry sources said Sunday, due to its sluggish sales there. While Hyundai announced the launch of the sixth-generation Grandeur earlier in November, sources said the company would not [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has agreed to jointly develop connected cars with China’s Guizhou Province. A memorandum of understanding (MOU) for cooperation was signed Tuesday between the South Korean automaker and Guizhou’s provincial government. Under the agreement, the two sides will first [...]