BYD debuts $20,000 EVs on Hyundai's home turf

In push for expansion, Chinese EV giant slashes Korean prices to less than half of what they charge in US or Europe China’s electric vehicle juggernaut BYD has made a daring entry to South Korea -- the home turf of its Asian rival, Hyundai Motor Group -- with a competitive pricing strategy aimed at winning over local drivers who remain hesitant to go electric. BYD’s first Korean launch features the Atto 3 electric SUV, which is offered in two variants, basic and upper trims, with prices set at 3

Jan. 16, 2025

Hyundai unveils first new Palisade in 6 years

Bolstered by hybrid variant of flagship SUV, Hyundai eyes 58,000 unit sales at home this year Hyundai Motor Company has unveiled the All New Palisade, the first revamped version of its flagship large-sized SUV in six years, featuring premium upgrades to its driving performance and convenience features. “The (All New Palisade’s) domestic sales target for this year is 58,000 units,” said Lee Cheol-min, head of the domestic marketing division at Hyundai Motor Company. “Given the preorder volume (of

Jan. 15, 2025

Concrete installations found near 7 airport runways: Transport Ministry

Seven out of 14 South Korean airports have been found to have installed concrete structures similar to those involved in the recent deadly Jeju Air crash, according to a government inspection released Monday. The Ministry of Land, Infrastructure and Transport’s weeklong review revealed that nine facilities at seven airports have localizer housings that are difficult to break upon aircraft collision and require urgent improvements. On Dec. 29 last year, a Jeju Air flight returning from Bangkok ma

Jan. 13, 2025

Hyundai Motor retains No. 2 spot in US EV sales after Tesla

Hyundai Motor Group ranked second in electric vehicle sales in the US last year, following the No.1 EV maker Tesla, with plans to boost local production amid the inauguration of Donald Trump. According to data from the Korea Automobile & Mobility Association, Hyundai Motor Company and its smaller sibling Kia sold approximately 123,000 battery-powered vehicles in the US in 2024, achieving a 10 percent market share. Although there remains a significant sales gap with Tesla, which sold 591,400 unit

Jan. 13, 2025

LG Energy Solution to supply W730b cylindrical cells to Aptera Motors

LG Energy Solution said Friday that it has secured an agreement to be the exclusive supplier of cylindrical battery cells for Aptera Motors, the California-based startup specializing in solar-powered electric vehicles. The two companies signed a memorandum of understanding for the supply deal on the sidelines of this week's CES 2025 in Las Vegas. CTNS, a Korean battery pack manufacturer, also plans to join the production. From this year to 2031, LG Energy Solution is set to supply 4.4 gigawatt-h

Jan. 10, 2025

Hyundai Motor, Nvidia to partner on AI-powered mobility, robots

Sources say new partnership to fuel Boston Dynamics' growth momentum Hyundai Motor Group said Friday that it has forged a strategic partnership with Nvidia, the world’s leading designer and manufacturer of GPUs, to boost the applications of artificial intelligence across its business operations, spanning software-defined vehicles and robotics. Key executives, including Kim Heung-soo, head of global strategy office at Hyundai Motor Group, and Rishi Dhall, vice president of automotive at Nvidia, a

Jan. 10, 2025

Why Hyundai Motor’s factory jobs are generating buzz

Competitive starting salaries, work-life balance lure job seekers from high school graduates to career changers Hyundai Motor Company’s recruitment process to hire new factory workers this year is generating a buzz among job seekers here, from high school graduates to those looking to switch jobs from chaebol rivals Samsung and SK, all drawn by the promise of competitive salaries and better work-life balance. In 2023, the auto giant resumed its recruitment process to hire hundreds of workers at

Jan. 8, 2025

Transport minister hints at resignation over plane crash

Park Sang-woo, minister of land, infrastructure and transport, has expressed his intention to resign over the Jeju Air plane crash that claimed 179 lives, following public backlash concerning the ministry’s oversight of the concrete embankment that likely contributed to the deadly explosion. “As the minister of the primary department overseeing aviation safety, I feel the deepest sorrow and offer my sincerest apologies regarding the Jeju Air plane tragedy,” Park said during a press briefing at t

Jan. 7, 2025

Hankook & Co.'s chaebol ranking soars with W1.8tr acquisition of Hanon Systems

Hankook & Company, the holding firm of Korea’s leading tire manufacturer Hankook Tire & Technology, said Monday it has completed the acquisition of Seoul-based automotive solutions provider Hanon Systems, marking its entry into the nation’s top 30 conglomerates. With this acquisition, the company has expanded its global assets to approximately 27 trillion won ($18.4 billion), securing its position on the top 30 conglomerate list by asset valuation for the first time. According to data from the F

Jan. 6, 2025

EcoPro founder vows to boost joint venture with China amid EV slump

Lee Dong-chae, the founder and former chairman of EcoPro, has pledged to accelerate the company’s Indonesian cathode manufacturing joint venture with China’s GEM to address challenges arising from the ongoing electric vehicle slowdown. According to EcoPro on Sunday, Lee said in his recent New Year Address, “We could be in a life-or-death situation if we fail to find a path to overcome the current crisis. Without a complete transformation across all management sectors, the company might not survi

Jan. 5, 2025