Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Thursday that it signed an agreement with the Slovakian government to set up its first manufacturing plant for electric vehicle power systems in Europe. With a 350 billion won ($256.7 million) investment, Hyundai Mobis will construct a plant in the Novaky region of western Slovakia to produce EV drive units consisting of an electric motor, inverter and reducer. Once completed next year, the facility will have the capacity

Mobility Oct. 16, 2024

LS Electric forged a partnership with Becamex, an industrial development firm in Vietnam, in a bid to enter the booming smart factory solutions market. The companies signed a memorandum of understanding on Monday, outlining ways to advance smart factory businesses in Vietnam’s manufacturing sector to contribute to creating a sustainable industrial ecosystem. LS Electric Chairman Koo Ja-kyun and Becamex Chairman Nguyen Van Hung and other executives attended the signing ceremony held at the

Industry Oct. 15, 2024

South Korea should join the global movement to set safer international standards for autonomous driving systems, according to a report released by the state-run Korea Automotive Technology Institute on Monday. Cho Min-wook, senior researcher and author of the report, stated that the International Organization for Standardization and the auto industry are looking to adopt a more comprehensive approach that encompasses safety and security for Level 3 and more advanced self-driving systems. ISO is

Mobility Oct. 14, 2024

INCHEON -- Aston Martin, the ultraluxury British sports car brand known for its affinity with the James Bond franchise, plans to expand its presence in South Korea's booming high-end car market with a more proactive approach to marketing. “This year marks the 111th anniversary of Aston Martin, but we are also celebrating another important milestone -- 10 years since our entry into Korea,” said Marco Mattiacci, chief brand officer and commercial officer of Aston Martin, during a

Mobility Oct. 11, 2024

HD Hyundai Heavy Industries, the world’s largest shipbuilder affiliated with HD Hyundai, said Thursday that it has developed the world’s first ammonia dual-fuel engine using a high-pressure direct injection system. The company recently passed the “type approval test” for its HiMSEN ammonia dual-fuel engine, which evaluates whether critical apparatuses installed on vessels meet mandatory requirements. The test was conducted at its Ulsan engine center and was attended by ke

Industry Oct. 10, 2024

Hyundai Motor Group said Wednesday it will boost its partnership with Singapore, home to the carmaker’s highly automated production base and key research hub, focusing on areas ranging from advanced and sustainable energy to manufacturing solutions. The company signed a memorandum of understanding with Malaysia’s Nanyang Technological University earlier in the day during the Singapore-Korea Business Forum. The signing ceremony was attended by: Chang Jae-hoon, president and CEO of Hyu

Mobility Oct. 9, 2024

China’s CATL, the world’s largest battery maker for electric vehicles, is reportedly seeking a bigger footing in Korea, the home turf of its archrivals LG Energy Solution, Samsung SDI and SK On, and a crucial client, Hyundai Motor Group. According to industry sources, the Chinese company is reviewing setting up its Korean unit by upgrading the current office in Seoul that has been operational since 2011. The specific nature of the new operations has not yet been disclosed -- whether

Mobility Oct. 9, 2024

Following the US and EU’s efforts to curb the flow of "underpriced" Chinese steel, South Korea has launched an anti-dumping probe into imports of Chinese-made heavy steel plates. The Korea Trade Commission under the Ministry of Trade, Industry and Energy announced on Friday that it initiated an investigation against the Chinese steel suppliers, including Shagang Group. The steel products in question, sheets 6 millimeters thick or more, are primarily used in shipbuilding. After a

Industry Oct. 8, 2024

UIWANG, Gyeonggi Province – Hyundai Mobis, a car parts manufacturing affiliate of Hyundai Motor Group, on Wednesday opened its electrification research wing to the press in Uiwang, 24 kilometers south of Seoul. The wing, built as a leading tech center for developing and testing key parts for electric vehicles, was completed in August 2023, and has been in use since December. With a record-breaking 1.7 trillion won ($1.3 billion) in investment this year alone, the company has introduced 65

Mobility Oct. 3, 2024

Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrades

Mobility Oct. 1, 2024

Hyundai Motor Company marked the global cumulative production of 100 million cars Monday, a landmark record coming 57 years since the carmaker’s foundation. The company held a celebratory event at the car manufacturing plant in Ulsan earlier in the day, joined by Lee Dong-suk, head of domestic sales and chief strategic officer at Hyundai Motor Group, and Moon Yong-moon, head of the company’s labor union. The executives and staff marked the production of the first car after passing th

Mobility Sept. 30, 2024

With a renewed push toward a leading green energy supplier with its vast energy resources, Chilean government officials urged South Korea, which shares similar goals in reducing dependence on fossil fuels, to expand investments to Chile and boost strategic partnerships. “The challenge today for Chile is to increase the participation of Korean companies in the Chilean economy and the flows of Korean capital into Chile,” Chilean Ambassador Mathias Francke told The Korea Herald at the E

Industry Sept. 29, 2024

The American Chamber of Commerce in Korea said Friday it has completed the five-day business trip to Washington DC held earlier this month, reasserting Korea-US economic partnership. The AmCham delegation comprising senior executives from key member companies, such as LG Energy Solution and Posco Holdings, met with US senators and representatives from 12 states and 10 US government organizations including the White House National Economic Council (NEC) and the Office of the Vice President. Throu

Industry Sept. 27, 2024

Hyundai Motor Group said that it is partnering with battery materials company EcoPro BM on Thursday to develop its own lithium iron phosphate, or LFP, batteries for electric vehicles. Executives from Hyundai Motor Group, EcoPro BM and Hyundai Steel -- the carmaker’s steel manufacturing affiliate -- met Wednesday in Daejeon to discuss details on the joint research and future cooperation. With the strategic partnership, which is part of the four-year project supported by the Ministry of Trad

Mobility Sept. 26, 2024

Hyundai Glovis, Hyundai Motor Group’s logistics and distribution subsidiary, said Wednesday it had partnered up with China’s BYD, the world’s biggest electric vehicle maker, on automotive transport across the ocean. Kim Tae-woo, managing director of the shipping division at Hyundai Glovis, and Wang Junbao, general director of the corporate division at BYD, participated in a signing ceremony for a memorandum of understanding on Monday at BYD headquarters in Shenzhen, China. Base

Mobility Sept. 25, 2024