Hyundai Motor breaks ground on first auto plant in Saudi Arabia

Hyundai Motor Company said Thursday it began constructing its first car manufacturing plant in Saudi Arabia, marking its entry into the burgeoning Middle East market. In partnership with Saudi Arabia’s Public Investment Fund, the auto giant will set up Hyundai Motor Manufacturing Middle East to produce up to 50,000 electric and internal combustion vehicles annually, with operations slated to begin in the fourth quarter of 2026. The PIF and Hyundai hold 70 percent and 30 percent stakes, respectiv

May 15, 2025

920% US tariff threat on Chinese graphite jolts Korean battery-makers

Korean battery-makers are bracing for a possible rise in production costs, as the US Department of Commerce prepares to announce a preliminary review of its investigation into alleged violations of antidumping regulations by Chinese graphite producers, potentially resulting in tariffs as high as 920 percent. According to industry sources on Wednesday, the US department is expected to reveal its findings as early as May 19. The investigation stems from a petition filed in December 2024 by the Ame

May 14, 2025

KGM partners with Indonesia’s Pindad for EV, defense cooperation

KG Mobility said Tuesday it is set to supply electric buses and military vehicles to Indonesia through PT Pindad, a state-owned defense company under the country’s Ministry of Defense. The signing ceremony for the head of agreement — a non-binding preliminary document outlining the key terms of a proposed deal — took place on Thursday at Pindad’s headquarters in Bandung, Indonesia. Key figures attended the event, including KGM Chairman Kwak Jae-sun, KGM CEO Hwang Ki-young, KGMC CEO Kim Jong-hyun

May 13, 2025

Hyundai Mobis bets on robotics as Atlas mass production looms

Hyundai Mobis, the automotive parts manufacturing arm of Hyundai Motor Group, is poised to develop robotics joints for Atlas, the flagship humanoid robot produced by Boston Dynamics, the automaker’s robotics subsidiary. According to media reports on Monday, Hyundai Mobis recently shared its plans with its institutional investors to consider supplying “actuators,” the mechanical systems that convert electrical energy into motion, for humanoids. These components will allow the robots to replicate

May 12, 2025

Why GM sticks with Korea production despite looming 25% tariff

General Motors, one of the top three automakers in the US, remains committed to leveraging South Korea as a vital production hub for its budget cars, despite the looming 25 percent tariff imposed by President Donald Trump. According to a GM official cited by Bloomberg on Wednesday, the automaker reaffirmed its commitment to Korean operations, the production base for its cheaper models, including the Chevrolet Trailblazer sport utility vehicle, the Buick Encore GX SUV and the Buick Envista crosso

May 8, 2025

Samsung SDI wins innovation award at Smarter E Europe

Samsung SDI on Wednesday announced its reception of the innovation award at The Smarter E Europe 2025, the region’s largest energy exhibition, making it the only South Korean company to be honored at this year’s event. The battery maker’s new U8A1 high-power Uninterruptible Power Supply product and thermal propagation prevention technology received the Smarter E Award, which selects companies with the best innovation across five categories: energy storage, e-mobility, solar power, smart energy a

May 7, 2025

Hyundai, Kia see minimal impact from Trump’s ease of auto parts tariff

Although US President Donald Trump recently walked back parts of his automotive tariff policies, Hyundai Motor Company and Kia are anticipated to experience only insignificant benefits, sources said Friday. “The partial tariff exemption eases the tax burden for Hyundai Motor and Kia, lowering some of the price hike pressures due to rising costs,” said an industry source close to the matter on condition of anonymity. “However, this could benefit the carmakers only to some extent, as the 25 percen

May 2, 2025

Hyundai Ioniq 5 to receive IRA subsidy with US production shift

Hyundai Motor Co.’s Ioniq 5, its flagship electric, midsized SUV, became eligible to receive the US government-sponsored $7,500 consumer subsidy following the relocation of its vehicle and battery production to the US. According to a Hyundai Motor Group official on Friday, the US Department of Energy granted the subsidy for the Ioniq 5 for the second half of this year. The three-month delay in approval was reportedly due to the vehicle’s failure to fully meet requirements outlined in the Inflati

May 2, 2025

LG Energy Solution’s Q1 profit surges on cost cuts, ESS pivot

LG Energy Solution said Wednesday it turned a profit in the first quarter, with aggressive measures to improve cost efficiency amid rising uncertainty in the US tariff policies. According to the company’s earnings release, its sales revenue and operating profit rose 2.2 percent and 138.2 percent to 6.26 trillion won ($4.38 billion) and 374.7 billion won, respectively, in the first quarter of this year. Its operating profit margin improved by 9.5 percentage points from the previous quarter, reach

April 30, 2025

LS Cable to build largest subsea cable plant in US

LS Cable & System announced Tuesday that it will invest $681 million to construct the largest submarine cable manufacturing plant in the United States, marking the first such investment by a South Korean cable company and the second major Korean initiative following the launch of the second Donald Trump administration. The new facility will be built by LS GreenLink, the company's US subsidiary, in Chesapeake, Virginia. Construction is scheduled for completion by the third quarter of 2027, with m

April 29, 2025