Hyundai Mobis aims for $1b orders in China this year

Hyundai Mobis, a car parts maker under Hyundai Motor Group, is renewing its commitment to the all-important Chinese market as it showcases its latest technologies at Auto Shanghai 2023, the first large-scale motor show since the COVID-19 pandemic. The company said Wednesday it is holding extensive business meetings with Chinese and other global carmakers during the trade show that kicked off Tuesday. Over 1,000 carmakers and their suppliers have flocked to the Chinese city to flaunt their late

April 19, 2023

[Photo News] Hyundai N makes China debut

Hyundai Motor Group said it has unveiled its high performance car N Brand model The New Elantra at the Shanghai International Automobile Industry Exhibition in China for the first time in the world. The Elantra model, scheduled for launch by the end of this year, is part of Hyundai's renewed sales push in China. Mufasa, the compact sport utility vehicle waiting for debut in June, was also showcased during the event.

April 18, 2023

US strips Hyundai, Kia cars of eligibility for EV tax credits

All Hyundai and Kia cars are no longer eligible for tax credits for electric vehicles in the US amid increased protectionist sentiment there. As the result of the Inflation Reduction Act that took effect in August last year, the US Treasury Department on Monday announced a total of 16 EV models that will qualify for a tax credit of up to $7,500. All of the cars are produced by US carmakers, including Tesla, GM, Ford and Stellantis. The list includes: Tesla’s Model 3 Performance, Model

April 18, 2023

[Herald Interview] Local airports to support boost in inbound travel: KAC CEO

With heightened interest in South Korea’s vibrant entertainment and culture, Korea Airports Corp. CEO Yoon Hyeong-jung vowed to create growth momentum for local airports as regional hubs for international tourism. “During the COVID-19 pandemic, the Korean culture boom has increased the appetite for traveling to the country to the highest level -- not just to Seoul but also to other regions, which had faced challenges in the tourism industry compared to metropolitan areas,” sa

April 18, 2023

[Photo News] 1st rollable display for cars

Hyundai Mobis said Monday it has developed a rollable display for cars -- the first of its kind globally. The 30-inch display can be rolled up and down depending on the mode the driver chooses. The automotive parts unit affiliated with Hyundai Motor Group said it aims to secure orders from luxury carmakers globally.

April 17, 2023

[Photo News] Polestar among luxury brands

Polestar, a Swedish all-electric vehicle maker, has become the first auto importer to open a pop-up store at the Hyundai Department Store in Pangyo, Gyeonggi Province. According to Polestar Korea, the EV maker will operate the pop-up store on the first floor alongside luxury brands such as Gucci, Hermes and Tiffany & Co. through May 14. Customers can check out the Polestar 2 on display, take the vehicle for a test ride and receive their orders at the department store.

April 16, 2023

[Herald Interview] BMW Motorrad offers upbeat outlook for Korean sales

South Korea’s burgeoning two-wheeler market could see further growth with more policy support for motorcyclists here, the head of Region Asia, China, Pacific and Africa at BMW Motorrad urged. “South Korean motorcycle market is witnessing continuous growth every year with an increasing number of motorheads,” said Markus Mueller-Zambre during a recent interview with The Korea Herald. “Although there have been some movements to allow riding bikes on motorways, it is (one of

April 14, 2023

[Photo News] Kona Electric

Hyundai Motor Company on Thursday launched The All-New Kona Electric, a compact electric sports utility vehicle designed to suit the different lifestyles of various customers. Equipped with a 64.8 kilowatt-hour battery, the electric SUV can drive up to 417 kilometers per charge. According to the automaker, its starting price is set at 46.54 million won ($35,200), while the actual purchase cost is estimated to be in the low to mid 30 million won range after local and central government subsidies

April 13, 2023

[Photo News] BMW's hydrogen vision

BMW Korea on Wednesday unveiled its hydrogen-powered pilot model, the iX5 Hydrogen, on Yeongjongdo, Incheon. Based on BMW’s fifth-generation eDrive technology, it can power up to 401 horsepower and accelerate from 0 to 100 kilometers per hour in less than 6 seconds. The car’s energy tank, which takes 3-4 minutes for a full charge, can store approximately 6 kilograms of hydrogen. It can drive around 500 kilometers on a single charge.

April 12, 2023

Hyundai to inject W24tr for EV supremacy

Hyundai Motor Group said Tuesday it will shell out 24 trillion won ($18.1 billion) to boost its electric vehicle production at home by 2030, aiming to become one of the top three carmakers globally in terms of EV sales. As part of the carmaker’s ambitious EV push, Kia broke ground to build the nation’s first EV-only production plant later in the day. “Kia’s EV plant is the first domestic production facility Hyundai will be building in 29 years. The government as a tea

April 11, 2023

Korean Air goes all out to close Asiana deal

Korean Air said Monday it is going all out to secure regulatory approvals from the remaining competition authorities -- the EU, US and Japan -- for acquiring its cash-strapped rival Asiana Airline. Korean Air CEO Walter Cho and other top executives have led the negotiation process with the antitrust regulators, the national flag carrier said in a statement. They also met with foreign airline authorities to offer new flying slots in South Korea, but the press release did not give more details.

April 10, 2023

[Photo News] New Mercedes-AMG EQE

Mercedes-Benz on Monday launched the new Mercedes-AMG EQE, the high-performance brand's second electric vehicle, in South Korea. Equipped with a 90.56-kilowatt-hour battery, the latest EV can drive up to 354 kilometers on a full charge, according to the automaker. The German brand's fastest EV so far, the new Mercedes-AMG EQE can reach 100 kilometers per hour from zero in 3.5 seconds. The price begins at 143.8 million won ($109,000).

April 10, 2023

[From the Scene] Han Sung Motor expands service center for Mercedes-Benz owners

Dozens of customers were seen waiting in the lounge of the first floor at Han Sung Motor’s Mercedes-Benz Seongdong Service Center on a Thursday afternoon. About two hours later, only several remained. As the official dealer of Mercedes-Benz cars, it showed Han Sung Motor’s swift customer service for Korean owners of the German luxury brand. “The first keyword is superior customer dedication. Under superior customer dedication, we understand customers’ intricacy, customer

April 10, 2023

SK Energy opens first hydrogen charging station for trucks

SK Energy, a leading oil company under SK Innovation, said Sunday it has opened the country's first hydrogen charging station for large cargo trucks in Ulsan, an industrial city on the southern coast. With the charging capacity of 80 kilograms per hour, the hydrogen fueling station can charge 16 passenger cars per hour or 40 large trucks a day. Of the 7 billion won ($5.3 million) joint investment with the Korean government and Ulsan city, SK Energy shelled out 1.3 billion won to build a 1

April 9, 2023

Average unit price for exported Korean cars hits all-time high

The average unit price for Korean car exports hit an all-time high of $21,276 last year, thanks to the popularity of ecofriendly cars and recreational vehicles, data from the Korea Automobile Manufacturers Association showed Sunday. The price is a 40.5 percent jump from $15,147 in 2017. Last month, the average unit price reached $22,515. In 2022, the auto export volume surged on-year by 12.7 percent to 2.3 million units, while the total export price jumped 18 percent to $48.9 billion. The figu

April 9, 2023

[Photo News] On top of the world again

The Ioniq 6, Hyundai Motor Company's all-electric vehicle, took home the World Car of the Year honor at the award ceremony held at the New York International Auto Show on Wednesday. The victory marked the second consecutive win for the carmaker after its predecessor, the Ioniq 5, was given the same award a year ago. The Ioniq 6 also won the World Electric Vehicle and World Car Design of the Year, given by a jury of 100 automotive journalists from 32 countries.

April 6, 2023

Korean Air resumes more flights to popular European cities

Korean Air said Wednesday it is resuming services to four major destinations in Europe by late April. After a three-year hiatus due to the COVID-19 pandemic, the airline has resumed flights to Prague and Zurich since March 27, while those for Istanbul and Madrid are set to be resumed from April 24. Each route will have three flights per week. The four cities are among the most popular tourist destinations in Korea. Prague in eastern Europe is home to many UNESCO world heritage sites. Zurich, the

April 5, 2023

LG Energy Solution bolsters battery supply chain in Morocco

LG Energy Solution has secured a supply chain of critical material for making electric vehicle batteries in Morocco in its efforts to bolster its readiness for toughened regulations in its key markets -- the US and Europe. According to the South Korean battery maker on Wednesday, the company signed a memorandum of understanding with Chinese lithium compounds producer Yahua to produce lithium hydroxide in the North African country. The US’ Inflation Reduction Act and EU’s Critical Raw

April 5, 2023

[Photo News] Disruptor designer of the year

Hyundai Motor Group won two awards at Newsweek’s World’s Greatest Auto Disruptors awards held Tuesday. Chief Creative Officer Luc Donckerwolke (right) was named the disruptor designer of the year, while Genesis House New York, a flagship luxury showroom, won the disruptor marketing of the year award. Last year, Executive Chair Chung Euisun was given the top visionary of the year award.

April 5, 2023

Thinking out of the box: Walter Cho’s leadership shines in crisis

Amid prolonged lockdowns and closed borders, the COVID-19 pandemic had been particularly brutal on the aviation sector. But Korean Air, the nation’s flag carrier, was a rare case that turned the crisis into a blessing under the leadership of CEO Walter Cho. In November 2020 when the coronavirus pandemic was rampant around the world, Korean Air announced a bid of 1.8 trillion won ($1.37 billion) to acquire its crosstown rival Asiana Airlines, paving the way for it to become the largest ai

April 5, 2023