Kia unveiled its latest electric vehicle, the EV3, a subcompact electric sport utility vehicle designed to attract mainstream consumers and drive mass adoption of EVs, during an online media conference Thursday. Made for nimble city driving, the EV3 serves as the entry-level model in Kia’s EV lineup that boasts a range of up to 600 km according to the Worldwide Harmonized Light Vehicle Test Procedure, or WLTP, marking it as best-in-class for its size. It is equipped with a front-wheel-driv

Mobility May 23, 2024

An increasing share of manufacturing capacity is not being used in Korea’s battery industry due to waning demand in the electric vehicle market. But manufacturers remain optimistic about a recovery later this year as inventory adjustments end and new EV models are launched. Official data released this week reveal that LG Energy Solution’s factory capacity utilization rate fell to 57.4 percent in the first quarter, a steep decline from 77.7 percent during the same period last year. Si

Mobility May 22, 2024

Hyundai Motor Group Executive Chair Chung Euisun met with Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, in Seoul on Monday to discuss ongoing and expanding collaborations in hydrogen energy and electric vehicle production. The meeting also included Kim Il-boom, executive vice president at the Global Policy Office, Hyundai Motor Company CEO Jang Jae-hoon and his foreign affairs advisor Sung Kim, a former US ambassador to South Korea. Hyundai is addressing Indone

Economy May 21, 2024

Hyundai Motor Group is reportedly set to produce a hydrogen-powered supercar with a whopping 775 horsepower as early as 2026, according to news reports Tuesday. If the plan materializes, the car will be the first of its kind. Reports said the new car will be based on the N Vision 74 concept car that was unveiled as a hydrogen hybrid model two years ago. The car codenamed the N74 is expected to be a hydrogen fuel cell-only supercar. Details of the car are said to have already been shared with Hyu

Mobility May 21, 2024

Kia will make a comeback at the Paris Motor Show this October after a six-year hiatus, seeking a bigger footing in Europe's competitive electric vehicle market. Kia France published a LinkedIn post on Sunday revealing that Kia will attend the 2024 Paris Motor Show, starting on Oct. 14 at the Paris Expo Porte de Versailles. “Let's celebrate Kia's big return to the Paris Motor Show this fall. Novelty, innovation, and mobility will be the key themes of this event. Kia will show

Mobility May 20, 2024

Doosan Robotics announced Monday the establishment of its European branch, Doosan Robotics Europe, in Dusseldorf, Germany, aiming to expand its sales channels and respond more effectively to local demand. Doosan Robotics Europe will collaborate with system integrators and dealers in major European markets, including Germany, the United Kingdom, the Netherlands, and Italy. This new branch will promote and sell automation solutions that are particularly sought after in Europe. These solutions incl

Industry May 20, 2024

There are more than 100 suppliers that have been working with Hyundai Motor Group for more than 40 years, the auto giant’s recent shared growth report found Sunday. As of the end of last year, Hyundai and Kia, the two Hyundai brands, have been doing business with 105 suppliers for over four decades, which compared to 95 suppliers in 2022. The figures represent primary parts suppliers and exclude the group’s parts affiliates such as Hyundai Mobis and Hyundai Wia. Of them, 36 percent w

Mobility May 19, 2024

Motional, Hyundai Motor Group’s robotaxi service joint venture in the United States, has hit a rough patch recently, facing major investor pullouts, a delayed service launch and a drastic 40 percent workforce reduction. This turbulence comes as Elon Musk recently announced Tesla’s plans to launch its robotaxi service in August, which experts say has a simpler AI architecture that is less costly to train and run than rivals. Experts say they still expect industry-wide investments in f

Mobility May 16, 2024

Korea is closely evaluating potential impacts on its key manufacturing sectors in response to steep US tariff hikes on key Chinese imports, bracing for potential supply chain disruptions while hoping to capitalize on any advantages. US President Joe Biden on Tuesday announced tariff hikes against Chinese imports, targeting a range of products including electric vehicles, legacy semiconductors, advanced batteries, battery components, solar cells, steel, critical minerals, aluminum and medical eq

Industry May 15, 2024

Kia has officially launched an upgraded version of the EV6 in the Korean market, with sales starting Tuesday and deliveries expected by June. "The new EV6 will launch internationally within this year," a Hyundai Motor Group official told the Korea Herald. This latest update, the first in about three years since August 2021, increases the maximum driving range to 494 km per charge, according to the Korean Ministry of Environment certification. This represents a 19 km improvement over t

Mobility May 14, 2024

Orsted, a company that has transformed itself from one of Europe’s most carbon-intensive power generators into a global leader in green energy, is now seeking to lead the charge against climate change in Asia. In anticipation of the H.eco Forum 2024, scheduled to take place on Some Sevit in Seoul on May 22, The Korea Herald spoke with one of the session speakers, Christy Wang, chairperson of Orsted Taiwan, to discuss the company’s journey, its contributions to Taiwan's offshore

Industry May 14, 2024

Hyundai Motor Group's joint venture Motional announced staff reductions and a two-year delay to its driverless taxi service plans last week, following the group's 1.29 trillion won ($941 million) injection into the startup earlier this month, reflecting growing industry pessimism about the viability of self-driving cars. Hyundai established Motional with Aptiv in the US in 2020 and launched its Ioniq 5-based robo-taxi service with Uber and Lyft last year. However, the rollout of the second-

Mobility May 12, 2024

Hyundai Mobis, the parts and service arm under Hyundai Motor Group, will construct a dedicated electric vehicle module plant in Ulsan, South Korea, with an investment of approximately 90 billion won ($65 million) and completion expected in late 2025. The company signed an investment memorandum of understanding with the Ulsan Metropolitan City on Thursday, with Ulsan Mayor Kim Du-gyeom and Hyundai Mobis CEO Lee Gyu-suk attending the signing ceremony. Located near Hyundai Motor Group's upcomi

Mobility May 9, 2024

South Korea's battery industry has secured a two-year reprieve from the US Inflation Reduction Act restrictions on electric vehicle batteries containing Chinese graphite, giving it time to diversify its supply chain while the Korean government has committed 9.7 trillion won ($7.1 billion) in policy financing to support this transition. Following negotiations and advocacy by the Korean government and related industries, the US government on Friday agreed to suspend specific provisions of the

Mobility May 8, 2024

Come In Wash, a Korean company specializing in automated car wash systems, is speeding up its global expansion through its patented “no-touch, no-brush” car wash technology. Established in 2019, Come In Wash rose to prominence at home with its innovative technology that relies only on high-pressure water jets to clean vehicles, without the need for brushes. Since then, this technology has gained international acclaim with expansions into the Philippines, Japan and the United States.

Companies May 1, 2024