SEOUL, Sept. 11 (Korea Bizwire) — Hyundai CRADLE, the venture capital arm of Hyundai Motor Co., has made a strategic investment in Migo, a mobile app for on-demand rides, the South Korean carmaker said Tuesday, the latest in a series of moves to boost its presence in the growing global mobility market. Migo — launched [...]
SEOUL, Sept. 3 (Korea Bizwire) — Hyundai Motor Co. said Monday it has partnered with a Chinese energy group in a commercial vehicle joint venture. At its Seoul headquarters Monday, South Korea’s biggest carmaker by sales signed a “strategic partnership” agreement with Sichuan Energy Industry Investment Group to expand into the Chinese commercial vehicle market, [...]
SEOUL, Aug. 23 (Korea Bizwire) — Hyundai-AUTRON, an electronic control unit developer, on Thursday said it has signed an initial pact with U.S. software firm Wind River to jointly develop software platforms for future vehicles. In the memorandum of understanding (MOU) signed in Seoul, the two sides agreed to cooperate on autonomous driving technologies and [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Motor Co. said Monday it has invested in Indian car sharing firm Revv to supply it with vehicles and jointly develop new mobility services for Indian customers. Investment in the Delhi-based shared mobility platform is the latest in Hyundai’s series of investments in global car sharing companies as [...]
SEOUL, Aug. 13 (Korea Bizwire) — An advertisement video for South Korea’s No. 1 carmaker, Hyundai Motor Co., has drawn a record 215 million views on YouTube, according to an ad agency Monday. The video was produced by Innocean Worldwide Inc. to celebrate the 20th anniversary of the South Korean automaker’s inroads into the Indian [...]
SEOUL, Jun. 20 (Korea Bizwire) — Hyundai Motor Group, the world’s fifth-largest auto-making conglomerate by sales, said Wednesday that it has signed a multi-year patent cross-licensing deal with Audi AG on a broad range of fuel cell electric vehicle components and technologies. The agreement — signed between Hyundai Motor Co. and Audi — covers existing [...]
SEOUL, May 22 (Korea Bizwire) — Hyundai Motor Group on Monday withdrew a key spinoff merger plan in a setback to its corporate restructuring amid stepped-up opposition campaigns by some investors. The decision comes as global hedge fund Elliott and proxy advisers such as Institutional Shareholder Services (ISS) continued to take issue with the carmaker’s [...]
SEOUL, April 26 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday its first-quarter net profit plunged 48 percent on the strong won and weak sales in two major markets. Net profit for the three months ending March 31 fell to 731.6 billion won (US$678 million) from 1.406 trillion won a year earlier, the company said in a statement. “The net result was affected by the won’s strength against the [...]
SEOUL, April 24 (Korea Bizwire) – Hyundai Motor Co. said Tuesday that Vice Chairman Chung Eui-sun plans to check new market trends and vehicles made by rival carmakers at the upcoming Beijing Motor Show. The company said Chung met with executives from Beijing Hyundai Motor Co. and its affiliates earlier in the day to discuss [...]
SEOUL, Apr. 12 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, on Thursday unveiled the electric version of its Kona subcompact sport utility vehicle (SUV) in a stepped-up drive to diversify its lineup with environmentally friendly vehicles. Amid the rapid growth in the domestic electric vehicle market in recent years, Hyundai Motor is [...]