LG Energy Solution said Monday it forged an exclusive deal with US-based Bear Robotics to supply its cylindrical batteries, marking a significant expansion into sectors beyond electric vehicles. The battery maker’s 21700 cylindrical cells -- measuring 21 millimeters in diameter and 70 mm in height -- will be installed in Bear Robotics’ service robot “Servi Plus” and logistics robot “Carti.” The financial details of the deal were not disclosed. “This is n

Mobility Nov. 18, 2024

Hyundai Motor Group affiliate Kia is reportedly scaling back US production of its ambitious EV9, a large all-electric sport utility vehicle, due to stricter Inflation Reduction Act regulations. According to industry sources Sunday, Hyundai Motor Group’s manufacturing facility in Georgia, which began operation last month, produced 21 EV9s in the third quarter and only one was sold in the US. Given that the EV9’s monthly sales volume is approximately 1,800 units, the US production cons

Mobility Nov. 17, 2024

Renault Korea’s latest hybrid sport utility vehicle Grand Koleos has seen smooth driving, claiming more than 30 percent market share in its segment as of October. Having debuted in August, the Grand Koleos E-Tech Hybrid sold 5,385 vehicles last month alone, with cumulative sales reaching 9,330. Driven by the new car's transactions, Renault's total sales more than tripled in Korea in October. Renault's upbeat sales come as Korean drivers have shown a growing appetite for hybr

Mobility Nov. 13, 2024

Spot, the four-legged robotics dog developed by Boston Dynamics, a subsidiary under Hyundai Motor Group, has reportedly joined the security detail for US President-elect Donald Trump. The $75,000 mechanical canine, bearing a cautionary tag that reads “Do not pet,” was seen patrolling the grounds of Trump’s Mar-a-Lago residence in Palm Beach, Florida. News reports said that the remote-controlled dog is with the US Secret Service. “We do not have specific details on Boston

Mobility Nov. 12, 2024

LG Energy Solution has reportedly forged a deal with Elon Musk’s SpaceX to supply its cylindrical lithium-ion batteries, further strengthening its partnership with Tesla and advancing its footprint to the global aerospace sector. According to industry sources on Monday, the Korean battery-maker has started developing batteries for the power supply units of SpaceX’s next-generation Starship launch vehicle, the world's first reusable rocket, as soon as next year. This marks SpaceX

Mobility Nov. 11, 2024

Hyundai Motor Group has outpaced Volkswagen Group in the third-quarter profit, edging closer to claiming the world’s second-largest carmaker title this year for the first time. From June to September, Hyundai Motor Company, Kia and Genesis posted 69.4 trillion won ($49.7 billion) in sales revenue and 6.5 trillion won in operating profit. Volkswagen Group reported higher sales of 78.5 billion euros ($84.2 billion), but it fell behind in profit with 2.9 billion euros. This marks a significan

Mobility Nov. 7, 2024

EcoPro HN, the environmental solutions provider under EcoPro, said Wednesday it has completed the construction of a new manufacturing plant for rechargeable battery materials in Chopyeong, North Chungcheong Province. Around 100 officials, including key executives -- former EcoPro Chairman Lee Dong-chae, EcoPro CEO Song Ho-jun, EcoPro HN CEO Kim Jong-seop and Jincheon County Governor Song Ki-seop -- participated in the completion ceremony at the newly-built facility earlier in the day. The manufa

Industry Nov. 6, 2024

Hanwha Group Chairman Kim Seung-youn on Tuesday visited Hanwha Asset Management to praise the asset management unit's recent progress in its ongoing efforts for global expansion. He was accompanied by Kim Dong-won, president and chief global officer at Hanwha Life Insurance, and Hanwha Asset Management CEO Kim Jong-ho. “Despite unfavorable market conditions, Hanwha Asset Management has overcome challenges and pushed innovations, and emerged as Korea’s leading asset management co

Industry Nov. 5, 2024

SK On, SK Innovation’s battery subsidiary, reported its first-ever quarterly profits in the third quarter of this year after years of operating losses since its spinoff in 2021. During its earnings conference call on Monday, the battery maker reported an operating profit of 24 billion won ($17.4 million) in the July-September period, a significant turnaround from last year’s 86.1 billion won deficit, largely driven by inventory clearance and enhanced cost structure. Its sales fell

Mobility Nov. 4, 2024

Hyundai Motor on Monday introduced a concept version of Initium, a hydrogen fuel-cell sport utility vehicle, adding a new chapter to its 27-year commitment toward renewable energy solutions. “The new addition to the hydrogen-powered SUV lineup will debut next year,” said Chang Jae-hoon, president and CEO of Hyundai Motor, at a press conference at Hyundai Motor Studio in Goyang, Gyeonggi Province. “Moving beyond mobility, we have introduced our hydrogen value chain business, H

Mobility Oct. 31, 2024

Samsung SDI unveiled details on its first electric vehicle battery production in the US in partnership with Stellantis and General Motors during its third-quarter earnings announcement Wednesday. “The joint venture with Stellantis, Starplus Energy, marks Samsung SDI’s first foray into battery cell manufacturing in the US,” said Son Michael, executive vice president of automotive & ESS business at Samsung SDI, during a conference call earlier in the day. “The initial p

Mobility Oct. 30, 2024

Cylindrical 4680 batteries, named for their 46-millimeter diameter and 80-millimeter height, are hailed as a pivotal advanced battery technology in electric vehicles due to enhanced energy storage capacity and power output. Tesla, a trailblazer in the EV industry, gained acclaim with its affordable electric vehicles powered by these cost-effective small batteries, comparable in size to the AA batteries used in handheld devices. To produce bigger cylindrical cells that allow higher productivity

Mobility Oct. 29, 2024

Kia’s first-ever pickup, the Tasman, is unlikely to debut in the US, the world’s largest pickup truck market, largely due to lower profitability amid protectionist policies there. “We do not have plans to sell the Tasman pickups in the US because of the hefty tariffs imposed on Korea-made pickups under the free trade agreement between the two nations,” a Kia official told The Korea Herald at the Tasman’s media unveiling event in Seoul on Monday. The official also

Mobility Oct. 29, 2024

Hyundai Motor Group’s smaller affiliate Kia said Friday that it has posted 2.9 trillion won ($2.1 billion) in operating profit, marking the highest ever for a third quarter, despite mounting challenges in the automotive industry. The carmaker’s profit increased 0.6 percent from the same period last year, while its sales revenue surged 3.8 percent to 26.5 trillion won. The sales volume decreased 1.9 percent to 763,639 units, due to a temporary production hiatus from its two car manufa

Mobility Oct. 25, 2024

SK Innovation said Thursday that three of its key subsidiaries -- SK Energy, SK Geocentric and SK IE Technology -- have appointed new company heads with technological expertise to tackle business uncertainties and strengthen core competitiveness. The announcement comes eight days before the mega-merger of SK Innovation and SK E&S, two major energy affiliates of SK Group, which will create Korea’s largest energy giant with combined assets of 100 trillion won ($723.6 billion). The newly

Industry Oct. 24, 2024