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 proceeds from its recent initial public offering in India. The automaker’s actions are part of an ambitious strategy led by Executive Chairman Chung Euisun to share the rewards of Hyundai’s rapid global growth more directly with investors. Backing promises with action Just three months after announcing a plan to buy back and partially retire 4 trillion won worth of its own shares

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

Kia targets annual sales, operating profit margin of over 10% for next 3 yrs

Kia Corp., South Korea's second-largest automaker, on Tuesday announced ambitious financial targets for the next three years, aiming for an average annual sales growth rate and operating profit margin of over 10 percent. In the company's mid- to long-term value enhancement plan, Kia also said it aims to achieve return of equity rates of over 15 percent between 2025 and 2027. To achieve these targets, Kia outlined strategies, including expanding sales of eco-friendly vehicles, increas

Dec. 3, 2024

LG Energy Solution mulls acquiring GM’s stake in joint battery plant in Michigan

LG Energy Solution announced Tuesday that it is considering acquiring General Motors’ stake in their joint venture battery plant in Michigan. “LG Energy Solution is reviewing the acquisition of the Ultium Cells plant 3 in Lansing to improve investment and operational efficiency and maximize operating rates of plants in North America," the Korean battery maker said in a statement. GM revealed Monday that it plans to sell its stake in the Michigan battery plant to the Korean partn

Dec. 3, 2024

[Reporter’s Notebook] BYD’s Korean debut, a wakeup call for Hyundai, Kia

Spotting an electric vehicle on the road in Korea is not a rare sight nowadays as the country’s EV penetration rate has reached nearly 10 percent. But that is a still long way off China, where more than half of all newly sold vehicles there run on battery. BYD, a Chinese and world EV leader, is gearing up to make its debut in the Korean passenger vehicle market in January next year. To the Korean government and auto brands, this should serve less as a nudge to speed up the EV transition an

Dec. 3, 2024

[KH Explains] Will Northvolt's fall ease talent shortage for Korean battery makers?

Northvolt, backed by Volkswagen Group, was once hailed as Europe’s hope for an electric vehicle battery champion to challenge the creeping presence of Asian competitors. In a bid to spur growth, the Swedish battery maker hired dozens of battery researchers from Korean rivals, promising heftier salaries and a better quality of life -- until recently. After years of financial struggles, however, the company last month filed for bankruptcy protection in the US and its employees reportedly see

Dec. 2, 2024

[Photo News] Genesis GV70 EV refined

The 2025 Genesis GV70 Electrified brings a refreshed design inside and out. Updates include a new grille with a gradient pattern, streamlined air intakes and new 20-inch matte gray wheels. A fresh Ceres Blue color option -- offered in matte or glossy finishes -- offers more variety. The interior maintains its spacious layout while incorporating updated oval-themed accents for a modern look. Genesis plans to release more details about pricing and features closer to the launch early next year. (Ge

Dec. 2, 2024

Hyundai, Kia less dependent than rivals on EV tax credits in US: study

An automotive industry study has found that American buyers of Hyundai Motor and Kia electric vehicles are less likely to have chosen the Korean EVs based on the US government’s tax benefits, raising hopes for the Korean automakers as they gear up for a second Donald Trump administration next year. According to a study published by US auto industry research firm J.D. Power last week, only 32 percent of Hyundai buyers and 24 percent of Kia buyers selected tax credits and incentives as a pri

Dec. 2, 2024

[Test Drive] BMW's new X3 offers sedan-like driving

The new X3, BMW’s latest sports utility vehicle, has come back as a premium mid-sized SUV that offers the comfort driving of a luxury sedan while looking more dynamic than ever. The Korea Herald got to ride the new X3 20 xDrive, a full-change model following the previous third generation that has been immensely popular in the global market since its launch in 2017, in a media test drive and launch ceremony held at the BMW Experience Center in Incheon on Thursday. The BMW X3 has led Korea&r

Dec. 1, 2024

Hyundai-Kia may face 19% profit loss from US tariffs: report

Korean automaker Hyundai and its smaller affiliate Kia may face a steep 19 percent decline in operating profitability if the US enacts a proposed 20 percent tariff on vehicles imported from South Korea, according to a report by S&P Global Ratings published last Friday. The potential tariffs, part of US President-elect Donald Trump’s suggested “universal tariff” on imports, would significantly impact the automaker’s earnings before interest, taxes, depreciation and amo

Dec. 1, 2024

Renault Grand Koleos dominates Korea's SUV market

Renault Korea’s latest hybrid sport utility vehicle, the Grand Koleos, has secured a 30 percent share in the domestic mid-size SUV market in just two months since its rollout. Launched in August, the Grand Koleos E-Tech Hybrid sold 5,296 units in October, boosting Renault Korea’s total hybrid vehicle sales this year to 11,110 units -- a 634 percent jump from the same period last year. Powered by Renault’s E-Tech Hybrid system, the Grand Koleos combines a gasoline engine with d

Nov. 29, 2024

Hyundai Motor braces for Trump 2.0 with hybrid push

Hyundai Motor Group is expected to ramp up sales of hybrid electric vehicles in the US, bracing for US President-elect Donald Trump’s drastic EV policy changes, sources said Friday. According to Hyundai Motor Company and Kia, the two carmakers already sold 275,103 eco-friendly vehicles in the US from January to October this year, with HEVs accounting for 63.1 percent of these sales. Compared to last year, the cumulative sales until October have surged by 11.3 percent. Last month alone, Hyu

Nov. 29, 2024

[Photo News] Polestar 4 begins delivery in Korea

Polestar Korea said Friday it began delivering the Polestar 4, the Swedish electric vehicle maker's first coupe-styled sports utility vehicle, for the customers here. According to the automaker, the delivery started in five cities -- Seoul, Hanam in Gyeonggi Province, Busan, Jeju and Daejeon. The Polestar 4 was launched in the Korean market in August this year with a starting price of 66.9 million won ($48,000) and a certified maximum driving range of up to 511 kilometers per charge. (Poles

Nov. 29, 2024

[From the Scene] Hyundai Motor unveils lighter, cheaper exoskeleton for factory workers

Factory workers often experience physical strain and injuries as they are exposed to overhead work, heavy lifting and other repetitive tasks. For instance, a Hyundai Motor plant worker on an assembly line has to lift their arms anywhere from 3,000 to 5,000 times a day. On Wednesday, Hyundai Motor Group unveiled a new wearable robotic exoskeleton, called “X-ble Shoulder,” which promises to reduce stress on factory workers' joints by up to 60 percent. The first product released in

Nov. 28, 2024

[Photo News] French alliance

The Grand Koleos E-Tech Hybrid, Renault Korea's latest sports utility vehicle, has been selected as the official vehicle of the Embassy of France in Korea, the French auto brand announced Wednesday. The hybrid SUV has seen a surge in sales as the model sold 5,385 vehicles in October to take up around a 30 percent market share here. Philippe Bertoux, French Ambassador to Korea, said that the vehicle, which is produced at Renault Korea's Busan plant, demonstrates the highest level that b

Nov. 27, 2024