Swedish electric vehicle maker Polestar will launch the Polestar 4, an all-electric coupe-style sports utility vehicle, in June, the carmaker’s Korean office said Friday. “The Polestar 4 is an all-around premium EV that has an outstanding commercial value in many aspects ranging from design, performance, sustainability, safety, spaciousness and (advanced driver assistance system),” said Ham Jong-sung, managing director of Polestar Korea. “We are working on various prepara

Mobility April 19, 2024

Hyundai Motor Group has signed a strategic partnership agreement with Japanese material manufacturer Toray Industries to enhance materials technology for vehicles, officials announced Thursday. Under the partnership, the two sides will work together to develop lightweight and high-strength materials to advance the performance and safety of the Korean automaker’s vehicles. According to Hyundai Motor, the joint research and development will include carbon fiber-reinforced polymer parts that

Mobility April 18, 2024

HD Hyundai Heavy Industries has bagged an order worth 640.6 billion won ($462 million) to build four warships for Peru’s state-owned shipyard SIMA, marking Korea’s largest-ever defense export deal to Latin America. According to HD Hyundai on Wednesday, Peru's President Dina Boluarte and Defense Minister Walter Astudillo Chavez, as well as Joo Won-ho, head of HD Hyundai Heavy Industries' special ship business unit, attended a signing ceremony held at the Naval Center San Bor

Industry April 17, 2024

LS Materials’ subsidiary HAIMK began construction of an aluminum parts plant for electric vehicles in Gumi, North Gyeongsang Province, on Wednesday. According to LS Materials, the plant will begin the mass production of battery cases with an annual capacity that can be used for 300,000 EVs in the first quarter of next year. The product is a high-strength aluminum component that protects the battery from outside impact without supplementary steel material. “Our products will be the on

Industry April 17, 2024

HD Hyundai Energy Solution, a solar energy affiliate under South Korean shipbuilding conglomerate HD Hyundai, has recently completed the installment of rooftop solar power systems at CJ CheilJedang’s two plants, the company said Monday. With an installed capacity of 2.7 megawatts, the rooftop photovoltaic system can generate 3.5 gigawatts and cut down carbon emissions by 1,607 tons per year. According to HD Hyundai Energy Solution, the solar power systems will be operated under leases, so

Industry April 15, 2024

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Monday that it will begin conducting test rides of level 4 autonomous driving in Incheon this month to accelerate the commercialization of self-driving vehicles. The Society of Automotive Engineers categorizes autonomous driving in six levels, ranging from 0 to 5. Level 4 autonomous driving requires the vehicle to perform the majority of driving tasks independently. The auto parts maker signed a memorandum of understanding

Mobility April 15, 2024

HD Hyundai has teamed up with Palantir Technologies, a US software company, to develop uncrewed surface vessels by 2026, the Korean shipbuilding conglomerate said Sunday. Officials from HD Hyundai and Palantir signed a memorandum of understanding at the US side’s office in Washington, DC, on Thursday. The two sides plan to develop reconnaissance USVs by 2026 and expand their portfolio to combat USVs later on. In doing so, Avikus, an autonomous navigation solutions developer that was launch

Industry April 14, 2024

Former corporate executives who ran for a seat at the National Assembly received mixed results as the votes from the general election were announced Thursday. The two headliners -- Koh Dong-jin, former president of Samsung Electronics, and Kong Young-woon, former president of Hyundai Motor -- found each other on opposite ends of the spectrum as the former won while the latter suffered a loss. Koh, who joined the ruling People Power Party in January, confirmed victory in the Gangnam-C constituenc

Politics April 11, 2024

Korea's top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are buckling up for the impact of their first-quarter earnings, which are certainly looking dispirited amid the withering demand for electric vehicles across the globe. According to LG Energy Solution’s preliminary earnings released on Friday, the country’s leading battery firm is expected to post 6.13 trillion won ($4.53 billion) in revenue and 157 billion won in operating profit from January to Ma

Industry April 10, 2024

Samsung Electronics is set to receive between $6 billion and $7 billion in grants from the US government next week as the Korean chipmaker looks to bolster its US production, Reuters reported Monday. According to the report citing anonymous sources, the subsidy from the Biden administration will be used for the construction of four semiconductor facilities in Taylor, Texas. The subsidy-impacted facilities are a $17 billion chipmaking plant Samsung announced in 2021, another chip factory, an adva

Industry April 9, 2024

Hanwha Group, Korea’s seventh-largest conglomerate by total assets, is poised to solidify its plan for succession, which will move from the current chairman to his three sons, as the company has taken a clearer stance on who will take charge of each business. According to the conglomerate, Hanwha Group Chairman Kim Seung-youn visited the headquarters of Hanwha Robotics in Pangyo, Gyeonggi Province, on Friday, with his youngest and third son Kim Dong-seon, who is the vice president of Hanw

Industry April 8, 2024

Hyundai Motor and Kia announced Monday that they have signed a strategic partnership with Exide Energy, a leading battery company in India, to speed up India’s transition into electric vehicles and expand the Korean automakers’ presence there. Under the partnership, Exide Energy will develop lithium-iron-phosphate, or LFP, battery cells and supply them to the automakers’ manufacturing footholds in India. The LFP battery cells will be loaded onto the carmakers’ India-speci

Mobility April 8, 2024

The chief of the Porche's Panamera line said building a bigger local fandom will be the carmaker's most important goal as the sporty sedan's third-generation was rolled out in Korea. “The question is not only ‘how do we get the customers to the brand and how do we get them not only as customers and drivers of our cars' (but also) 'How do we get them as fans of the brand?’” said Thomas Friemuth, the head of Porsche’s Panamera product line at

Mobility April 7, 2024

Hyundai Motor Group has found itself at a crossroads as Boston Dynamics, a US-based robotics company that the Korean auto conglomerate acquired in 2021, struggles to find a breakthrough amid mounting losses. Over two years have passed since Hyundai Motor Group Executive Chair Chung Euisun appeared on stage with Boston Dynamics’ four-legged, dog-like robot, Spot, at the CES 2022 in Las Vegas. “Robots are getting closer to humans. Just like you are carrying your phone today, in the

Mobility April 7, 2024

Kia on Friday unveiled a plan to invest 38 trillion won ($28.1 billion) through 2028 in an investor relations event held at Conrad Seoul, vowing to lead the global auto industry’s automation. According to the Korean automaker, 65 percent of the large-scale investment will be injected into automation, 19 percent will be used for developing purpose-built vehicles, which were redefined as "platform beyond vehicles" at CES in January, 8 percent will be spent on the transition to soft

Mobility April 5, 2024