SEOUL, Nov. 7 (Korea Bizwire) — Hyundai Motor Group has outperformed Volkswagen Group to become the world’s second-largest automaker in terms of operating profit, industry data showed Thursday. According to automotive industry data, Hyundai Motor Group achieved sales of 69.4 trillion won (US$49.6 billion) and an operating profit of 6.5 trillion won during the third [...]
SEOUL, Oct. 8 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it will host a unique motorsport event in partnership with Toyota Motor Co. later this month in South Korea featuring high-performance models and racing vehicles from both companies. The Hyundai N x Toyota Gazoo Racing Festival will be held at Everland Speedway in Yongin, [...]
SEOUL, Jul. 11 (Korea Bizwire) – In a move that could reshape the electric vehicle charging landscape in North America, Toyota, the world’s largest automaker, announced on July 10 its decision to invest in Ionna, a joint venture formed by seven major global car manufacturers to build an extensive EV charging network. Ionna, established last [...]
SEOUL, Jun. 20 (Korea Bizwire) — The South Korean government said Thursday it has carried out a probe into some imported vehicles made by Japanese automakers Toyota Motor Corp. and Yamaha Motor Co. in connection with their improper certification tests in their home country. Seoul’s Ministry of Land, Infrastructure and Transport said it has looked [...]
SEOUL, Dec. 6 (Korea Bizwire) – The prevailing trend in the automotive market is currently centered around the craze for plug-in hybrid electric vehicles (PHEV), marking a notable shift in consumer preferences. Despite the somewhat sluggish sales of fully electric vehicles, hybrids, previously considered a passing fad, are experiencing a resurgence. This revival is evident in [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading car battery maker, said Thursday it has signed a 10-year deal with Toyota Motor Corp. to supply EV batteries that will be produced in the United States. The two companies’ U.S. business units — LG Energy Solution Michigan, Inc. and Toyota [...]
SEOUL, Aug. 22 (Korea Bizwire) — Toyota Motor Korea Co. said Monday it has initiated pre-order sales of the Alphard hybrid minivan at its official showrooms across the nation. Set to debut in South Korea on Sept. 18, the Alphard is a seven-seat model available in a single trim. It combines a 2.5 L Atkinson [...]
SEOUL, June 5 (Korea Bizwire) — Toyota Motor Korea on Monday launched the flagship Crown crossover as it beefs up its product lineup to boost sales, which remained weak for years due to trade tension between Seoul and Tokyo. The Crown crossover utility vehicle (CUV) comes with two power trains, one with a 2.4-liter dual [...]
SEOUL, Feb. 21 (Korea Bizwire) — Toyota Motor Corp. said Tuesday it will launch two all-electric models under the Toyota and Lexus brands in South Korea this year to compete with its rivals amid the accelerating electrification push. The Japanese carmaker plans to introduce the Lexus RZ SUV and the Toyota bZ4X SUV in the [...]
KUALA LUMPUR, MALAYSIA, Feb. 17 (Korea Bizwire) – Toyota Mobility Foundation (TMF) has entered into an agreement with the Malaysia Digital Economy Corporation (MDEC) to launch the City Architecture for Tomorrow Challenge (CATCH). This is the region’s first global challenge that will attract innovative, data-driven entries from global participants. The aim is to raise efficiency [...]