Hyundai Motor seeks alternative answers in India, Southeast Asia

Hyundai Motor Group has set its sights on the Southeast Asian region in search of alternative markets outside of China and Russia as the Korean automaker looks to move beyond its heyday in the two state-dominated nations. Hyundai Motor’s Chinese business used to boast upbeat sales of over 1 million units per year with five local manufacturing plants in operation. This came to an abrupt end in 2017 when Beijing took retaliatory actions against South Korean companies in response to Seoul&rsq

Dec. 26, 2023

Hyundai Mobis to develop digital twin system

Hyundai Mobis will work with US software company Wind River to develop a digital twin system called M.Dev Studio to optimize the future working conditions of crafting auto parts, the South Korean auto parts maker said Monday. M.Dev Studio is expected to offer a virtual space for not only Hyundai Mobis, but also its partners and various research teams to carry out joint projects through simultaneous simulation and remote monitoring as they work on developing core auto technologies and products to

Dec. 25, 2023

[Photo News] Indian car of the year

Hyundai Motor Company's Exter, a compact SUV strategically developed to target the auto market in India, has won Indian Car of the Year 2024, the South Korean automaker said Sunday. The Ioniq 5, Hyundai Motor's all-electric vehicle, also took home the honor of Green Car of the Year at the same awards. With the COTY award, Hyundai Motor has won the top auto accolade for the eighth time, the most among all brands in India. (Hyundai Motor Group)

Dec. 25, 2023

Exports of eco-friendly cars jump 33 percent to record high this year

South Korea's exports of eco-friendly vehicles surged 32.5 percent on-year to a record high during the first 11 months of this year on solid global demand for electric vehicles, data showed Sunday. The export volume of eco-friendly automobiles came to 662,307 units during the January-November period, compared with 499,854 units a year earlier, according to the data by the Korea Automobile and Mobility Association. The number for the entire 2023 is expected to surpass 700,000 for the first t

Dec. 24, 2023

Incheon Airport passengers rebound to nearly 80% of pre-pandemic level

The number of passengers traveling via Incheon International Airport has rebounded to 77.9 percent of the pre-pandemic level this year, data showed Sunday. A total of 49.97 million travelers flew via the airport, west of Seoul, during the first 11 months of 2023, which represents 77.9 percent of the 64.17 million passengers during the same period of 2019, according to the data compiled by the transport ministry. Around 56 million air passengers are expected to use the airport by the end of this

Dec. 24, 2023

Hyundai’s 42dot to debut software-centric car tech at CES 2024

Hyundai Motor Group's self-driving mobility division, 42dot, revealed Friday that it will make its debut at the upcoming CES 2024 tech show in Las Vegas to showcase its software-driven vehicle technology. The technology integrates both software and hardware in automobiles, reflecting the digital advancements seen in smartphones and Tesla vehicles. Established in 2019 by Song Chang-hyeon, a former chief technology officer at Korean online platform Naver, 42dot has quickly emerged as a notabl

Dec. 22, 2023

Hyundai Motor to detail hydrogen ecosystem and software vision at CES 2024

Hyundai Motor on Thursday shared a glimpse into its upcoming presentation at CES 2024 in Las Vegas, set for Jan. 8, previewing the company’s vision for a hydrogen-powered ecosystem and a future shaped by software innovations. The presentation, under the theme of "Ease every way," is scheduled from 1:00 p.m. to 1:45 p.m. Pacific Standard Time and will be livestreamed on Hyundai's global YouTube channel. Central to Hyundai's hydrogen strategy is the "Hydrogen Busines

Dec. 21, 2023

LG Energy Solution secures 10 power grid projects in US

LG Energy Solution said Thursday its US subsidiary has landed 10 power grid supply deals in the fast-growing US energy storage system market since its launch last year. The projects' total energy storage capacity amounts to 10 gigawatt-hours, the firm said. Based in Texas, LG Energy Solution Vertech provides energy storage system integration services ranging from business solutions to installation, maintenance and repair. The venture was set up in February 2022 after the battery manufacture

Dec. 21, 2023

[Test Drive] Kia refines family favorite with first hybrid Carnival

The Kia Carnival, a top choice for a family vehicle in South Korea, reflects the classic American family minivan. Three years after the success of the fourth generation, Kia is upping its game with a revamped Carnival lineup, most notably with its first-ever hybrid model that tackles the vehicle's main shortcoming: fuel efficiency. The hybrid model, entering its precontract phase last month alongside other models, has quickly attracted consumer attention, with hybrids making up 70 percent o

Dec. 20, 2023

Record earnings propel Hyundai Motor to conduct most promotions ever

Hyundai Motor Group promoted 252 executives on Wednesday, the largest upper-level promotion ever in the company’s history, on the back of its record-high earnings this year as it looks to find future mobility leaders. Hyundai Motor said the promotions focused on preparing for the future as it speeds up its generational shift in leadership. Among the promoted, there are 197 newly appointed executives, of which some 38 percent are in their 40s. The conglomerate's proportion of those in their

Dec. 20, 2023

LG Chem breaks ground on largest materials plant

LG Chem said Wednesday it broke ground to build a cathode materials manufacturing plant in the US state of Tennessee that is to be the largest production facility in the all-important electric vehicle market. LG Chem Vice President Shin Hak-cheol, Tennessee Gov. Bill Lee, Stuart McWhorter, commissioner at the Tennessee Department of Economic and Community Development, Cho Hyun-dong, South Korean ambassador to the US, and other company executives and government officials participated in the groun

Dec. 20, 2023

[Photo News] Advanced air mobility

Supernal, Hyundai Motor Group's US-based urban air mobility firm, will take part in CES 2024, slated for January in Las Vegas, for the first time and exhibit its electric vertical takeoff and landing vehicle concept model. Hyundai Motor Group said Supernal will present its strategies to set up an ecosystem of advanced air mobility in the future at a media presentation on Jan. 9. (Hyundai Motor Group)

Dec. 20, 2023

Hyundai Motor to sell auto plant in Russia

Hyundai Motor Group said Tuesday it has decided to sell its entire shares of its car manufacturing plant in Russia, which has been temporarily shut down because of Russia's invasion of Ukraine, to a Moscow-based company, ending a decadelong operation. The carmaker’s board of directors approved selling Hyundai Motor Manufacturing Russia in St. Petersburg, along with a General Motor plant it acquired in 2020 to the Russian automotive service firm Art-Finance. “We have reviewed var

Dec. 19, 2023

Hyundai Motor donates W35b to charity

Hyundai Motor Group said Tuesday that it has donated 35 billion won ($26.8 million) to Community Chest of Korea, a nonprofit organization and state-sanctioned charity. The South Korean auto conglomerate has taken part in CCK’s year-end campaign for helping the underprivileged since 2003. Hyundai Motor said it increased this year’s donations by 10 billion won. According to the company, the auto giant’s accumulated amount of donations reached 394 billion won as of this year. &ldq

Dec. 19, 2023

Harim takeover of debt-ridden HMM draws concerns

Harim Group’s consortium was named as the preferred bidder for debt-ridden container ship company HMM, leaving concerns about how it would fund the acquisition worth 6.4 trillion won ($4.9 billion), industry sources said Tuesday. Outbidding rival Dongwon Group, the company is expected to take over the 57.9 percent stake owned by controlling shareholders of HMM -- the state-run Korea Development Bank and Korea Ocean Business Corp. The creditors have sought to get the shipper back on track t

Dec. 19, 2023

[KH Explains] Why Hyundai Motor has no plan to adopt Apple’s upcoming CarPlay

Hyundai Motor Group could compete head-to-head with Apple in software, a domain where Apple, as the world's most valuable company, is known to excel, as the South Korean automaker is progressing toward its own software-defined vehicle vision that aims to incorporate its proprietary connected car operating system into all new models by 2025. This bold move could be part of its strategy to dominate in-car screens with its own software, potentially opening new revenue streams through content a

Dec. 18, 2023

[Photo News] Team building

Kia held the championship round of its in-house League of Legends tournament on Friday at the automaker's training institute, the Kia Vision Square, in Yongin, Gyeonggi Province, the South Korean automaker said Monday. The company began its first in-house LoL tournament with 23 teams of 115 employees from Kia offices nationwide in November. On the sidelines of the championship round, professional esports players from the automaker-sponsored Dplus Kia team held an event match and competed ag

Dec. 18, 2023

Korea’s car exports surge over 80% after COVID-19: report

South Korea’s car exports climbed 84.2 percent from January to September this year compared to 2019, while imports of electric vehicles and EV batteries from China gradually increased, a report showed Monday. The export volume surged to $50.5 billion in the cited period after the prolonged COVID-19 pandemic and global supply glitches, according to the Korea Automotive Technology Institute, or Katech. Compared to last year, exports of battery-powered cars and hydrogen fuel cell vehicles sky

Dec. 18, 2023

KG Mobility to produce Torres EV in Saudi Arabia

KG Mobility, formerly SsangYong Motor, and Saudi National Automobiles Manufacturing Company, a licensed producer of international and domestic automobiles, signed a partnership agreement on Friday to assemble the carmaker's Torres EVX electric vehicle in Saudi Arabia. The agreement expands an existing deal between the companies for SNAM to manufacture KGM's internal combustion engine vehicles. Under the new pact, SNAM will augment production capabilities to assemble the all-electric To

Dec. 17, 2023

Why Renault bets big on Polestar’s Busan production

Swedish electric-vehicle maker Polestar recently announced its plan to produce the new all-electric Polestar 4 at Renault Korea Motors’ Busan plant in 2025. The new partnership comes as Polestar, a spinoff from Volvo in 2017, is seeking to secure a bigger footing in the burgeoning EV market with a more diversified product lineup from the Polestar 2 sedan and the Polestar 3 sport utility vehicles to the latest Polestar 4 coupe-styled SUV. At a time when it is crucial to beef up its produc

Dec. 17, 2023