Hyundai chief vows to overcome upcoming challenges

Marking the first anniversary of Hyundai Motor Group’s innovation hub in Singapore, Executive Chair Chung Euisun reaffirmed his commitment to addressing deepening domestic and international uncertainties. Alongside Chung, key executives from Hyundai Motor, including Chang Jae-hoon, president and CEO of Hyundai Motor Co., Jung Jun-cheul, executive vice president and head of manufacturing for Hyundai Motor Group, Park Hyun-sung, CEO of Hyundai Motor Group Innovation Center in Singapore, and

Dec. 13, 2024

Hyundai Motor, Google bolster ties on in-car navigation

Hyundai Motor Group said Thursday it will expand its business collaboration with Google to upgrade its vehicles’ navigation and infotainment features. Under the partnership, Hyundai, Kia and Genesis vehicles will integrate Google Maps Platform’s Places application programming interface, or API, to improve the accuracy of navigation systems in Hyundai, Kia and Genesis vehicles. The enhanced navigation will provide detailed information such as business hours, contact details, ratings

Dec. 12, 2024

Kia’s Chinese joint venture turns first profit in 7 years

Kia’s Chinese joint venture turned a profit in the third quarter of this year, ending a seven-year run of losses thanks to a surge in sales and exports, sources said Thursday. Yueda Kia, where Kia and China’s Yueda Group hold 50 percent shares each, logged 3.2 trillion won ($2.3 billion) in sales in the July-September period, a 60.4 percent jump from the second quarter. The company achieved a profit of 17.2 billion won, a significant turnaround from the previous quarter’s 4.4 b

Dec. 12, 2024

Production disruptions loom at Kia plants

Kia’s decision to join the Korean Metal Workers’ Union’s strike — demanding the resignation of President Yoon Suk Yeol amidst the ongoing martial law crisis — could lead to increased production disruptions for the carmaker, industry sources said Wednesday. The strike is part of the Korean Confederation of Trade Unions, the nation’s largest umbrella labor group with 1.2 million members, which has launched an indefinite strike until Yoon offers to resign, claimi

Dec. 11, 2024

[Photo News] More accolades

Hyundai Motor announced Wednesday that the Ioniq 5N, the automaker's award-winning high-performance all-electric vehicle, has been selected as performance car of the year in the 2025 China Car of the Year Awards held at Crowne Plaza Beijing Lido. Hyundai Motor said that the Ioniq 5N's latest honor highlights the brand's competitiveness in China, which is one of the fastest EV-transitioning markets in the world. Based on its outstanding motor power, the Ioniq 5N also was recognized

Dec. 11, 2024

KAI wins W1.1tr to supply tail wings for Boeing aircrafts

South Korean aircraft maker Korea Aerospace Industries said Tuesday that it has extended its contract with Boeing to produce empennage parts for the US aerospace giant’s 737 Max model. The extension will add 1.12 trillion won ($789 million) in sales to the existing contract. The Boeing 737 Max – the manufacturer's newest narrow-body model for short and medium-haul passenger flights – carries up to 230 passengers. KAI has provided vertical and horizontal stabilizers for the

Dec. 10, 2024

Chinese battery makers gobble up Korean firms' global market share

The competitiveness of Korean battery makers -- LG Energy Solution, Samsung SDI and SK On -- continues to be threatened by the seemingly unceasing growth of Chinese rivals, a global electric vehicle battery usage report showed Monday. According to SNE Research’s analysis, the three Korean battery makers’ combined share in the global EV battery sector logged 20.2 percent between Jan. and Oct. this year, down 3.5 percentage points from the same period last year. The decline came even t

Dec. 9, 2024

[Photo News] Smart choice

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Monday that it released a new button-type smart card key for Hyundai vehicles. The smart card key, which was first launched for the Ioniq 5 N, Hyundai's high-performance vehicle in April this year, can now be applied to the Santa Fe, Tucson and Grandeur -- three of Hyundai's most popular models. The functions of the smart card key include starting the car from outside, remote parking assistance and opening and cl

Dec. 9, 2024

1 in 4 Hyundai-Kia cars now sold in US

Hyundai Motor Group said Sunday that its US sales have reached the highest level in 36 years, with one in four of its cars sold globally being purchased in the all-important market. From January to November, Hyundai Motor and Kia sold a combined 1.55 million vehicles in the US, accounting for 23.3 percent of the group’s 6.65 million units sold worldwide. This marks the first time since 1988 that the US share has exceeded 23 percent. Last year, Hyundai set a record for US sales at 1.65 mill

Dec. 8, 2024

Genesis to debut high-performance GV60 Magma in Middle East next year

Genesis is entering the high-performance electric vehicle market with the GV60 Magma, the first model in its newly announced “Magma” lineup. Set to launch in the Middle East next year, this version of the GV60 promises top-tier performance, pushing the boundaries of what the luxury automaker’s electric vehicles can deliver. Based on the all-electric GV60, the Magma variant has been developed as the flagship performance model for Genesis’ growing lineup. Speaking at a foll

Dec. 6, 2024

LG Energy Solution, GM celebrate 100 millionth EV battery cell from Ohio plant

LG Energy Solution and General Motors celebrated a major milestone on Friday as their joint venture, Ultium Cells, produced its 100 millionth electric vehicle battery cell at Plant 1 in Warren, Ohio. The milestone also coincided with the fifth anniversary of Ultium Cells, which was launched on Dec. 5, 2019. To mark the occasion, a ceremony was held at the facility. “This achievement shows our commitment to advancing clean energy across industries like electric vehicles and energy storage s

Dec. 6, 2024

Posco Future M secures US-compliant lithium supply for EV batteries

Posco Future M has locked in a deal to source lithium hydroxide from within its corporate structure, in a move that avoids problems stemming from US Foreign Entity of Concern restrictions. The company said Friday it had signed an agreement to purchase 20,000 tons of lithium hydroxide from Posco Pilbara Lithium Solution, its affiliate, enough to produce cathode materials for around 460,000 electric vehicles. Cathode materials are a key component in lithium-ion batteries, which power most EVs. Thi

Dec. 6, 2024

Entry into motor sports ‘natural evolution for Genesis’

Hyundai Motor’s premium brand Genesis has officially announced its entrance into motor sports by launching its team Genesis Magma Racing and a prototype of its racing car, pinpointing the brand’s broader vision to redefine luxury. Laying out a fresh vision for the future of the brand’s high-performance motor sports cars, Genesis unveiled the GMR-001 Hypercar, a high-performance prototype that dons its design philosophy of athletic elegance during the world premiere held at the

Dec. 5, 2024

Hyundai Motor hints at largest-ever shareholder returns

Hyundai Motor Company is on track to achieve its largest-ever shareholder returns this year, driven by record-breaking dividends and an aggressive stock buyback program. The move reflects Executive Chair Chung Euisun's commitment to enhancing shareholder value as the company continues its rapid global expansion and financial growth. Backing promises with action Hyundai announced a 1 trillion won ($706 million) share buyback last week, its biggest yet. The funds were sourced from its recen

Dec. 5, 2024

Kia Sorento becomes Korea's best-selling car of the year

The Kia Sorento has become the best-selling car in South Korea this year, marking the first time a recreational vehicle has led domestic car sales. As of November, the Sorento recorded 85,710 units sold, according to data from Korea’s five automakers. Following closely were Kia’s Carnival with 75,513 units and Hyundai’s Santa Fe with 70,912 units, highlighting a significant shift in consumer preferences toward RVs. This marks a milestone for Kia, which has been part of Hyundai

Dec. 4, 2024