Hyundai Motor pledges $484m to ramp up output in Malaysia

Hyundai Motor has decided to invest $484 million in Malaysia to expand local production there as the Korean automaker looks to ramp up its presence in the burgeoning Southeast Asian market. According to Hyundai Motor on Wednesday, the automaker will make the investment over five years starting next year to upgrade its complete knock-down -- or CKD -- plant in Kulim in cooperation with local partner Inokom. The CKD plant expansion will mark Hyundai Motor’s largest investment in Malaysia yet

Nov. 27, 2024

Hyundai Motor to launch EV charging subscription service in Indonesia

Hyundai Motor Co. announced Wednesday that it will launch an electric vehicle (EV) charging subscription service for its customers in Indonesia this week. Beginning Thursday, subscribers will gain access to 518 chargers at 288 charging stations operated by Hyundai and its EV partner companies across Indonesia. The service, available through Hyundai's smartphone app, offers subscription plans of 50 kilowatt-hours (kWh), 100 kWh, and 250 kWh. Additional charging can be purchased once users ex

Nov. 27, 2024

Mercedes-Benz donates W500m for child protection center in Incheon

Mercedes-Benz’s Corporate Social Responsibility Committee said Monday that it has donated 500 million won ($358,000) to establish a specialized child protection center, aimed at protecting abused children and preventing further abuse. The funds, raised through the 11th Mercedes-Benz Give ’n Race charity event, will be fully allocated to the Incheon Child Protection Center to be built in Seo-gu, Incheon. A donation ceremony was held at Incheon Metropolitan City Hall on Monday, attende

Nov. 25, 2024

Hyundai Capital sets up Australian subsidiary

Hyundai Capital Services, the financial arm of Hyundai Motor Group, announced Monday the official launch of its Australian subsidiary, Hyundai Finance Australia, marking its 12th overseas expansion in automotive financing. The new entity will provide tailored financial solutions for Hyundai Motor customers in Australia, offering a wide range of products such as installment plans for new and certified pre-owned vehicles. Among its offerings is the flagship Guaranteed Future Value program, which p

Nov. 25, 2024

[Exclusive] Hyundai Mobis eyes closer ties with BYD

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, is looking to expand relations with Chinese electric vehicle giant BYD in an apparent move to diversify its profit sources outside of Hyundai and Kia. According to industry sources Monday, a group of Hyundai Mobis officials visited BYD’s headquarters in Shenzhen last month. Currently, Hyundai Mobis supplies steering parts to BYD, the No. 1 EV maker in China. During the visit, sources say, the two companies discussed ways

Nov. 25, 2024

[Photo News] Kumho Tire backs Hawks on and off court

Kumho Tire’s European branch president Cho Nam-hwa (right) and Hawks Chief Commercial Officer Andrew Saltzman hold a jersey to mark Kumho’s new sponsorship of the Atlanta Hawks. This partnership gives Kumho prominent exposure at the team’s State Farm Arena. With roots in Georgia, where it runs a factory and logistics hubs, Kumho also plans to support local communities with volunteer events and youth outreach programs. Fans can expect exciting extras, too, like autograph session

Nov. 25, 2024

Samsung SDI builds EV momentum with Audi, Hyundai deals

Samsung SDI is charging ahead to claim a bigger slice of the electric vehicle battery market, bolstered by new supply agreements, upcoming product launches and accelerating demand for EVs, particularly in Europe. One of the company’s latest moves is expanding its supply with Audi. Samsung SDI recently began supplying batteries for two of Audi’s EV models, the E-Tron 50 Quattro and E-Tron Sportback 50 Quattro, which previously used batteries from LG Energy Solution. Of the 14 Audi EV

Nov. 25, 2024

[From the Scene] BYD zeroes in on continuing exponential growth

SHENZHEN/CHONGQING, China -- The license plate on the Denza Z9, a high-performance electric vehicle produced by Chinese EV maker BYD, read “10,000,000th” as a group of Korean journalists entered the BYD’s final assembly factory in Shenzhen on Tuesday. BYD celebrated its 30th anniversary with the completion of its 10-millionth car at the manufacturing plant the previous day. The 10 assembly lines at the site were packed with BYD vehicles. A BYD official noted that the day’

Nov. 25, 2024

[Herald Interview] ‘BYD will set no sales target in Korean debut year’

CHONGQING, China -- Chinese electric vehicle maker BYD will not focus on sales volume when it debuts in the Korean passenger car market early next year, the EV giant’s Asia Pacific head says. “We will not set a sales target for our first year (in Korea), “said Liu Xueliang, general manager of BYD Asia Pacific auto sales division, in a group interview with Korean reporters at BYD’s headquarters in Shenzhen, China, Wednesday. “Our hope is to give Korean customers hand

Nov. 25, 2024

[Photo News] Hyundai, Toyota chiefs at WRC finale

Hyundai Motor Group Executive Chair Chung Euisun (left) greets Toyota Motor Corp. Chairman Akio Toyoda Sunday at the Toyota Gazoo Racing Service Park in Nagoya as the final round of the World Rally Championship, FORUM8 Rally Japan 2024, concludes. Thierry Neuville and co-driver Martijn Wydaeghe of the Hyundai World Rally Team won the season’s drivers’ and co-drivers’ championships, a first for Hyundai since its WRC debut in 2014. The event, held on the challenging tarmac stages

Nov. 24, 2024

Hyundai Motor’s Genesis US push challenged by Trump’s tariff hike: sources

The US sales expansion of Hyundai Motor Company’s luxury brand, Genesis, may face setbacks with President-elect Donald Trump’s proposed tariff hikes, according to industry sources Friday. The incoming Trump administration, set to begin its term on Jan. 20 next year, reportedly plans to implement up to 20 percent tariffs on most goods from other countries in line with its campaign pledges. Currently, Genesis exports most of its vehicles manufactured in Korea to the US. Hyundai Motor&r

Nov. 22, 2024

Kia EV9 GT marks world debut at LA Motor Show

Hyundai Motor Group’s subsidiary Kia showcased the EV9 GT, the high-performance version of its large electric sport utility vehicle, at the Los Angeles Auto Show on Thursday. “The EV9 GT boasts the charm of the three-row EV9 and adds driving excitement for car enthusiasts,” stated Steven Center, chief operating officer and executive vice president of Kia America. Since its debut last year, the Kia EV9 has been given the acclaimed title of 2024 North American Utility Vehicle of

Nov. 22, 2024

LG Chem to secure massive supply of lithium from ExxonMobil

LG Chem has forged a deal with US energy giant ExxonMobil to secure up to 100,000 metric tons of lithium, a key material for cathodes used in electric vehicle batteries. According to the company, LG Chem Vice Chairman and CEO Shin Hak-cheol and ExxonMobil Senior Vice President Dan Holton signed a memorandum of understanding on Wednesday in Seoul. The deal price was not revealed immediately. Under the agreement, ExxonMobil will supply lithium extracted from its Arkansas brine fields to LG Chem&r

Nov. 21, 2024

KG Mobility’s Tivoli hits 300,000 units sold in Korea

KG Mobility’s compact SUV Tivoli has surpassed 300,000 units sold in South Korea, with its global cumulative sales exceeding 420,000 units since its debut in 2015. The Tivoli has gained traction for its affordability, practical designs and consistent updates, making it a popular choice for first-time SUV buyers and young drivers. In its first year, the car captured 54.7 percent of the domestic compact SUV market, which grew from 28,000 units in 2014 to more than 82,000 units by 2015. As of

Nov. 21, 2024

Hyundai Ioniq 9 debuts as electric SUV with home-like comfort

GOYANG, South Korea -- Hyundai Motor is expanding its electric vehicle lineup with the launch of the Ioniq 9, the company’s first large, all-electric sport utility vehicle. The Ioniq 9 is set to make its official global debut at the Los Angeles Auto Show on Thursday, following an exclusive media preview for South Korean journalists at Hyundai Motorstudio Goyang a day earlier. Originally teased as the SEVEN concept back in 2021, the Ioniq 9 has evolved into a production-ready model designed

Nov. 21, 2024

[KH Explains] Dissecting Hyundai Motor's lobbying in US

Hyundai Motor Group is on track to report record-high spending for lobbying in the United States this year as the Korean auto conglomerate continues to ramp up its presence and influence in Washington, DC According to OpenSecrets, a Washington, DC-based nonprofit, nonpartisan organization that tracks and publishes data on campaign finance and lobbying, Hyundai Motor Company and Kia -- the two automakers under Hyundai Motor Group -- have spent $2.51 million on lobbying in the US as of the third q

Nov. 20, 2024

3 die of suffocation at Hyundai Motor’s Ulsan plant

Three researchers died of suffocation during a vehicle testing at Hyundai Motor Company’s car manufacturing plant in Ulsan, some 300 kilometers southeast of Seoul. According to police officials Tuesday, a man in his 40s, another in his 30s and one unidentified person were found unconscious at 3 p.m., following a vehicle test conducted in the multi-environment chamber within the plant's electrical quality division. The test involves vehicles being exposed to vibration as well as high t

Nov. 19, 2024

Hyundai Mobis eyes 40% of orders from global carmakers

Hyundai Mobis, a car parts manufacturing subsidiary of Hyundai Motor Group, has committed to having global automakers account for 40 percent of its client base by leveraging its advanced automotive technology. “One of our core pillars of a long-term growth strategy is to become the world’s top three auto parts supplier, reducing reliance on Hyundai Motor Co. and Kia," which account for 90 percent of auto parts and system orders, said Axel Maschka, vice president and head of glob

Nov. 19, 2024

Carmakers, battery suppliers vie for leadership in battery management

Battery Management Systems, or BMS, often called the “brain” of an electric vehicle battery, play a crucial role with integrated hardware and software to monitor and control battery cells while safeguarding against potential fires. While battery manufacturers excel in advancing battery technologies, the BMS field has traditionally been a specialized area for automakers, who develop and integrate their own systems into battery modules. However, since a series of EV fire incidents in K

Nov. 19, 2024

LG Energy Solution inks exclusive battery deal with Bear Robotics

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

Nov. 18, 2024