[Herald Interview] 'Samsung SDI to play vital role in accelerating Indiana's EV transition'

Samsung SDI’s recent joint venture deal with General Motors to construct an electric vehicle battery cell manufacturing plant in Indiana is expected to play a pivotal role in fostering a more advanced manufacturing workforce. “We’ve got five auto OEMs (original equipment manufacturers) (including GM and Toyota) in Indiana that give us tons of auto (workers). However, they are mostly focused on working on the production lines of internal combustion engine cars,” Indiana&rs

July 13, 2023

[Exclusive] Hyundai’s 'walking vehicle' obtains US patents

Hyundai Motor Group has obtained patents for walking vehicles in the US, taking the next step in making the South Korean auto giant’s futuristic four-legged cars a reality. According to the US Patent and Trademark Office on Tuesday, two patent applications for walking vehicles were published under the names of both Hyundai and Kia on July 6, about 19 months after the two companies filed for the patents on Dec. 31, 2021. The patents protect the technologies of Hyundai’s concept car, E

July 11, 2023

Kia names new PBV chief in Europe

Hyundai Motor Group’s sister firm Kia said Tuesday it has tapped Pierre-Martin Bos, a commercial vehicle specialist, as the European chief of its burgeoning purpose-built vehicle, or PBV, business. PBVs refer to battery-powered cars designed to meet specific customer needs such as delivery, ride-hailing and business-to-business transactions. With 25 years of experience, Bos previously worked for Fiat and Stellantis, where he was tasked with handling sales and marketing of commercial vehicl

July 11, 2023

Hyundai Motor Group ranks No. 2 in US EV sales

Hyundai Motor Group became the second-largest car brand in terms of sales in the US electric vehicles market in the first quarter of this year, data showed Monday. Following Tesla’s 336,892 units, Hyundai and its smaller affiliate, Kia, sold 38,457 units in the first half of this year, up by 11 percent compared to 2022, according to auto market tracker Motor Intelligence, cited by CNBC. Hyundai-Kia outpaced General Motors, which was second in EV sales during the January - June period last

July 10, 2023

[KH Explains] Will Hyundai Motor stick to its own charger technology in US?

Hyundai Motor Group has reportedly started discussions on its electric vehicle charger strategy as a growing number of carmakers are joining market leader Tesla’s own Supercharger network in the US, according to industry sources Monday. “I’ve heard that Hyundai Motor Group has been holding a series of emergency meetings to tackle the issue,” an industry source close to the matter told The Korea Herald on condition of anonymity. “The carmaker has been preparing to bo

July 10, 2023

Travel demand to Hong Kong struggles amid anti-China sentiment

Travel demand to Hong Kong remains weak among South Korean travelers, data showed Sunday, with a report suggesting anti-China sentiment is still prevailing. A total of 591,998 passengers used the air routes between Korea and Hong Kong from January to May, according to data from the Ministry of Land, Infrastructure and Transport. The number is only 35.3 percent of the passengers recorded in the same period four years ago, when the pandemic had yet to break loose. Meanwhile, the number of passenge

July 9, 2023

Hyundai Motor chief visits Intel's Irish chip plant

Hyundai Motor Group Executive Chair Chung Euisun visited Intel’s semiconductor plant in Ireland on Friday to inspect the global chip supply chain trends and prepare stability for in-vehicle chips in the future. According to the South Korean auto giant on Sunday, Chung checked out the manufacturing process at the Fab 24 manufacturing plant, located at Intel Ireland’s Leixlip campus in County Kildare as he was briefed on the chip company’s global business status. Hyundai Motor Gr

July 9, 2023

LG Energy Solution, Stellantis, Canadian gov’t agree on subsidies for battery plant

LG Energy Solution said Thursday it has come to an agreement with the Canadian government on the conditions of subsidies for the construction of a joint battery plant for electric vehicles with Stellantis. Nextstar Energy, a joint venture between LG Energy Solution and Stellantis, signed the final contract for the battery production plant in the Canadian province of Ontario. Meanwhile, the federal and local governments agreed to offer subsidies equivalent to those provided under the US’ In

July 6, 2023

Volvo Trucks chief visits Seoul

Volvo Trucks President Roger Alm visited South Korea to show the company’s commitment to cater to the fast-growing demand of electric commercial trucks in the nation’s logistics industry, the company said Wednesday. During a luncheon with corporate clients in a hotel in Seoul, Alm stressed the importance of the Korean market and pinned high hopes on its Korean unit in creating a strong foothold in the electric heavy-duty vehicles market. Aside from battery-powered trucks, the truckma

July 5, 2023

Sales of ultra-luxury super cars exceed 6,000 units

The number of ultra-expensive luxury cars priced at over 300 million won ($231,00) sold in South Korea has exceeded 6,000 units, a report showed Tuesday. As of April, 6,299 units of high-priced cars were registered nationwide, according to a report from Rep. Yang Kyung-suk of the main opposition Democratic Party of Korea, citing data from the Ministry of Land, Infrastructure and Transport. Vehicles priced between 300 million and 500 million won hit 5,006 units, while the ones priced at over 500

July 4, 2023

[From the Scene] Kia's Gwangju plant ups automation

GWANGJU -- A line of pressing machines continuously stamped out automotive body panels inside Kia’s manufacturing plant in Gwangju on Thursday. The pressers never seemed to miss a beat as they kept stamping out the panels, offering a glimpse of the automatized operations at the South Korean carmaker’s major domestic production site. A similar scene could be observed at the next stop, the welding shop. A large electronic display board hanging down from the ceiling showed how the autom

July 4, 2023

Hyundai, Kia US sales rise 9.9% in June on SUVs, eco-friendly models

Hyundai Motor Co. and its affiliate Kia Corp. said Tuesday their combined sales in the United States rose 9.9 percent in June from a year earlier on robust sales of SUVs and environment-friendly models. Last month, Hyundai and Kia sold 145,849 vehicles in the world's most important automobile market, up from 132,739 units a year earlier, according to the companies' sales data. Hyundai's sales climbed 11 percent to 75,354 units in June from 67,597 a year ago, while Kia's were

July 4, 2023

KG Mobility to take over Edison Motors

KG Mobility said Monday it will look to strengthen its commercial vehicle portfolio after being picked as the final candidate to acquire Edison Motors. With approval from the local court in Changwon, South Gyeongsang Province, of KG Mobility as the final takeover candidate, Edison Motors can complete the corporate rehabilitation process once it submits a debt recovery plan and acquires an agreement from creditors. KG Mobility said it plans to transform Edison Motors into a firm that can contribu

July 3, 2023

Hyundai, Kia to outpace chaebol rivals in Q2 profits

Hyundai Motor Company and its sister firm Kia will continue to post upbeat earnings in the second quarter as the two automakers are projected to take first and second places on the list of Korea’s top profit makers in the second quarter. According to market tracker FnGuide’s earnings consensus on Monday, Hyundai Motor’s operating profit in the second quarter is expected to reach 3.6 trillion won ($2.7 billion), up 21.1 percent on year to repeat as the leading earner among the l

July 3, 2023

US deputy secretary welcomes SK-Ford battery partnership

David Turk, deputy secretary at the US Department of Energy, visited the construction site of BlueOval SK in Stanton, Tennessee, a joint venture of SK On and Ford Motor Co., the South Korean battery maker said Monday. “BlueOval SK is a project that shows fantastic partnership among the US government, SK On, Ford and BlueOval SK,” Turk said during a meeting with SK On, Ford Motor and SK BlueOval executives and US government officials on Thursday. “I think this is a phenomenal

July 3, 2023

[Photo News] Mini showrooms in Korea

Mini has opened the world's first showrooms specifically designed to promote its high-performance brand -- John Cooper Works, or JCW -- in South Korea, the company under BMW said Monday. Located in Suwon, Gyeonggi Province, Incheon, Daegu and Busan, the four JCW performance showrooms present the entire lineup of JCW vehicles, offering premium services and test drives for customers. The Korean sales of JCW models jumped by 45 percent on-year in 2022, logging the biggest annual sales figure o

July 3, 2023

S. Korea, Slovenia seek stronger ties in EVs, logistics

South Korea and Slovenia discussed ways Friday to enhance bilateral cooperation on electric vehicles, logistics and advanced industries, Seoul's industry ministry said. During the meeting with Slovenia's economic minister, Matjaz Han, in Seoul, Seoul's Trade Minister Ahn Duk-geun pointed to the recent growth in the EV market in the European nation and voiced expectations for stronger ties in the related sectors, according to the Ministry of Trade, Industry and Energy. Ahn also ask

June 30, 2023

S. Korea's forklift exports up 57% through May

South Korea's forklift exports jumped nearly 57 percent on-year in the first five months of 2023, data showed Friday, following a rebound in the global construction industry. Exports of forklifts reached $525 million from January to May this year, reaching a record-high amount for the period, according to the data compiled by the Korea Customs Service. The agency attributed the growth to increasing demand from construction sites worldwide, as some companies in major countries shifted their

June 30, 2023

EU antitrust regulators temporarily halt probe of Korean Air-Asiana deal

BRUSSELS (Reuters) -- EU antitrust regulators have temporarily suspended their investigation into Korean Air Lines' proposed acquisition of Asiana after the former asked for more time to prepare remedies to address competition concerns, the South Korean carrier said on Wednesday. The temporary halt took effect on June 23, the European Commission's site shows. "Korean Air has requested a deadline extension to render comprehensive remedies that can address the EC’s concerns, a

June 28, 2023

Lucid CEO says Aston Martin EV tech deal is just the beginning

LONDON (Reuters) -- Lucid will pursue more deals to sell its luxury electric vehicle equipment as it looks to grow its technology supply business, its top executive said on Wednesday, adding its recent deal with Aston Martin is just the start. The US EV firm will provide Aston with technology including a rear drive unit with twin motors, battery modules and software for integrating systems under the agreement with the British luxury carmaker announced on Monday. The parts will come from Lucid�

June 28, 2023