Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
Carmakers expand reach to e-bikes
Global carmakers are penetrating the electric bicycle market, taking advantage of its value as a test bed for the future technology of electric vehicles while rounding out their e-mobility portfolios. Experts note that both e-bikes and EVs have motors and batteries as their core parts, and also shared parts of their design structure. This gives carmakers a great leg up in the e-bike market, which is still in its nascent stage with no clear market leader. “When the finished carmake
Mobility Aug. 3, 2022
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Hyundai’s Xcient hydrogen truck to debut in Germany
Hyundai Motor said Tuesday that its Xcient Fuel Cell, the world’s first mass-produced, heavy-duty truck powered by hydrogen, will make its debut in Germany as part of the carmaker’s efforts to expand its presence in the largest commercial vehicle market. A total of 27 units of Xcient trucks will be delivered to seven local companies in the logistics and manufacturing sectors. This will be the second time that Hyundai has exported its fuel-cell truck to Europe after it clinche
Mobility Aug. 2, 2022
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Posco, Brazil’s Vale seek to produce hot briquette iron
Posco said Tuesday that it will conduct a feasibility study with Brazil’s largest raw material supplier, Vale, for the possible production of hot briquette iron as part of the steel giant’s efforts to reduce its carbon footprint. HBI, which is created by reducing the iron ore with natural gas, is a relatively new product that has been recently introduced to be used as a pre-material in blast furnaces or electric arc furnaces. A low-carbon HBI manufacturing plant emits less ca
Industry Aug. 2, 2022
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Revision seeks to allow battery subscription for EVs
The South Korean government said Monday that it would revise the law to allow battery subscription services for electric vehicles, a move that is expected to pull down EV prices almost one-third from their current price tag and lower entry barriers for potential buyers. The Ministry of Land, Transport and Infrastructure said that a 36-member regulatory reform committee held a meeting on Thursday to approve the planned revision. The current law on vehicle registration does not allow two
Mobility Aug. 1, 2022
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Hyundai Motor unveils smart city vision in Singapore
Hyundai Motor Group on Monday unveiled its vision for smart city at the World Cities Summit in Singapore, with an aim to offer a blueprint for smart mobility solutions that revitalize urban communities. During a panel discussion at the biannual summit, the automaker’s President and Chief Innovation Officer Chi Young-cho offered a detailed look into the company’s vision for human-focused city design through its HMG Smart City concept. The company first unveiled such vision for
Mobility Aug. 1, 2022
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Hanwha revamps defense business, with aim to create ‘Korea Lockheed Martin’
South Korean defense-to-energy giant Hanwha Group said Friday that it is revamping its business structure to maximize synergy among defense units with an aim to mimic the success of Lockheed Martin, the US-based aerospace and defense company. Under the scheme, Hanwha Aerospace, its largest defense arm that mainly produces aircraft engines, will take over the defense unit of Hanwha Corp., a de facto holding company of the group, and absorb its wholly owned subsidiary Hanwha Defense.
Industry July 29, 2022
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Posco secures $1b through overseas debt sale
Posco said Friday that it has raised $1 billion by selling debts overseas, the largest corporate bond issuance by a South Korean company this year. According to the South Korean steel giant, the two-tranche debt consists of three-year bonds worth $700 million and five-year bonds worth $300 million. The decision was made a day after the US Federal Reserve on Wednesday raised interest rates by 0.75 percentage point for the second consecutive time to fight inflation fears. It
Industry July 29, 2022
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Widodo asks Hyundai Motor to join capital relocation project
Indonesian President Joko Widodo requested the head of South Korean carmaker Hyundai Motor Group to provide clean mobility in the Southeast Asian country’s grand administrative city project during their meeting in Seoul, the company said Thursday. Earlier this year, the Indonesian parliament passed a bill to relocate the country‘s capital city from Jakarta to the East Kalimantan province in the island of Borneo to level out overpopulation. The new capital will be constructed
Industry July 28, 2022
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Hyundai Motor Group to get hefty incentives for Georgia EV plant
Hyundai Motor Group will receive benefits worth 2.4 trillion won ($1.8 billion) in tax exemptions and incentives from the US state of Georgia in exchange for building its first dedicated electric vehicles manufacturing plant there. The subsidy package of property and income tax exemptions, as well as other incentives in land, infrastructure and equipment purchases, is the largest-ever offered by the US state. According to the signed deal disclosed on Saturday, the Korean automaker will get a ta
Mobility July 24, 2022
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China’s BYD eyes foray into Korean EV market
BYD, the world’s largest electric vehicle maker, is getting ready for EV sales in the South Korean market, going head to head against the country’s top automaker Hyundai Motor Group with lower price tags and better performing cars. Industry sources said Sunday that BYD recently inked a deal to rent an office near Seoul Station in central Seoul and started recruiting personnel, including those for vehicle registration, after-sales services and marketing activities. Since the
Mobility July 24, 2022
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Hyundai Motor logs best-ever quarterly profit
South Korean automaker Hyundai Motor on Thursday reported its best-ever quarterly result for the April-June period, with operating profits surging 58 percent to nearly 3 trillion won ($2.2 billion) on the back of increased luxury vehicle sales and the weak Korean won. The carmaker’s operating profit jumped to 2.97 trillion won with the rate of operating profit reaching 8.3 percent. The last time the company recorded operating profit above 2 trillion won was in the second quarter of 2014
Mobility July 21, 2022
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Hyundai Motor, Rolls-Royce team up for air mobility
South Korean carmaker Hyundai Motor Group said Tuesday that it would collaborate with global aero-engine maker Rolls-Royce to deliver all-electric propulsion and hydrogen fuel cell technology for advanced air mobility (AAM). AAM is a future mobility concept that integrates transformational aircraft design and flying tech. It has been the Korean carmaker’s recent focus for future mobility business. It created Supernal, an AAM-dedicated company based in US, last year. According to H
Mobility July 19, 2022
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Earnings surprise expected for Hyundai, Kia: reports
South Korea’s largest and second-largest carmakers Hyundai Motor and Kia are expected to deliver earnings surprises with record-high profits in the second quarter on improved product mixes and a weakening Korean won. According to the securities industry Monday, Hyundai Motor is expected to record 2.3 trillion won ($1.7 billion) in operating profit in the April-June period, surpassing 2 trillion won mark for the first time in eight years. In the 2014 Q2, Hyundai Motor recorded 2.87 trilli
Mobility July 18, 2022
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SKT aims to become first to debut air taxi by 2025
BUSAN – SK Telecom, the nation’s leading telecom carrier, said Friday it aims to debut air taxi service by 2025, calling UAM or urban air mobility a “game changer” for future mobility innovations. “Our rivals also plan to launch air taxi services in the coming years, but we are confident that we will be the first to bring UAM aircrafts to the market,” said SK Telecom’s Chief Development Officer Ha Min-yong during a press conference held at the 2022 Bus
Mobility July 17, 2022
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Ioniq 6 makes world premiere at returning Busan show
BUSAN -- Hyundai Motor’s latest electric vehicle Ioniq 6 made its global debut at the Busan Motor Show Thursday, boasting not only its sleek design but also its single-charge travel capacity of 524 kilometers. The sedan, whose overall design was inspired by airplanes, features energy efficiency at 6 km per kilowatt-hour, which is the highest rate among EVs around the world, the carmaker said. “The Ioniq 6 will create a sensation in the local EV market, currently dominated by EVs wi
Mobility July 14, 2022
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