Aston Martin seeks bigger footing in Korean luxury car market

INCHEON -- Aston Martin, the ultraluxury British sports car brand known for its affinity with the James Bond franchise, plans to expand its presence in South Korea's booming high-end car market with a more proactive approach to marketing. “This year marks the 111th anniversary of Aston Martin, but we are also celebrating another important milestone -- 10 years since our entry into Korea,” said Marco Mattiacci, chief brand officer and commercial officer of Aston Martin, during a

Oct. 11, 2024

Hyundai India to launch record $3.3 billion IPO on Oct. 22

Hyundai Motor India is about to make history with a massive $3.3 billion initial public offering set for Oct. 22. This will be the largest IPO in Indian stock market history, and Hyundai plans to use the funds to ramp up production in the country and accelerate its push into the electric vehicle market. India’s stock market regulator, the Securities and Exchange Board of India, gave the green light for Hyundai’s offering Wednesday. The company will sell 17.5 percent of its Indian sub

Oct. 10, 2024

[Photo News] Marking 100m vehicles

To celebrate producing 100 million vehicles, Hyundai Motor Company is hosting the “One Step Further” exhibition at Hyundai Motorstudio Seoul from Oct. 10 to Nov. 10. Spanning five floors, the exhibit tells Hyundai’s story from its first-ever car, the Cortina Mark 2 (right), to its latest EVs and SUVs. Iconic models, including the Sonata and Elantra, are showcased as milestones of innovation. The exhibition caps off celebrations that began at Hyundai’s Ulsan plant last wee

Oct. 10, 2024

Hyundai, Singapore bolster R&D ties in hydrogen, manufacturing

Hyundai Motor Group said Wednesday it will boost its partnership with Singapore, home to the carmaker’s highly automated production base and key research hub, focusing on areas ranging from advanced and sustainable energy to manufacturing solutions. The company signed a memorandum of understanding with Malaysia’s Nanyang Technological University earlier in the day during the Singapore-Korea Business Forum. The signing ceremony was attended by: Chang Jae-hoon, president and CEO of Hyu

Oct. 9, 2024

[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?

China’s CATL, the world’s largest battery maker for electric vehicles, is reportedly seeking a bigger footing in Korea, the home turf of its archrivals LG Energy Solution, Samsung SDI and SK On, and a crucial client, Hyundai Motor Group. According to industry sources, the Chinese company is reviewing setting up its Korean unit by upgrading the current office in Seoul that has been operational since 2011. The specific nature of the new operations has not yet been disclosed -- whether

Oct. 9, 2024

LG Energy Solution wins 10-year battery supply deal from Mercedes

LG Energy Solution has secured a major long-term contract to supply electric vehicle batteries to a key affiliate of Mercedes-Benz. The deal, announced Tuesday, primarily targets North America and other key markets, although the exact regions were not specified. Under the terms of the agreement, LG will provide 50.5 gigawatt-hours of EV batteries over 10 years, starting in 2028. While financial details of the deal remain undisclosed, industry analysts believe it likely reaches billions of dollar

Oct. 8, 2024

Hyundai reportedly begins EV production at Georgia plant

Hyundai Motor Group has reportedly begun early-stage production of electric vehicles at its new Hyundai Motor Group Metaplant America facility, located near Savannah, Georgia. According to a report on Saturday by the Atlanta Journal-Constitution, a major local newspaper in Georgia, Hyundai commenced production at the facility earlier last week. The company also reportedly held a private event on Thursday for employees to mark this achievement. The official completion ceremony for the plant is st

Oct. 8, 2024

More foreign automakers to share EV battery data with Korea

A growing number of foreign automakers in Korea -- Mercedes-Benz, Volkswagen and Audi among them -- are now cooperating with local authorities to improve EV safety by providing detailed information on their battery management systems in the wake of a serious electric vehicle fire in Incheon this past August. A BMS monitors EV battery safety by tracking key factors like temperature and voltage, preventing malfunctions, and reducing the risk of fires. According to information provided by the Korea

Oct. 6, 2024

Over 60% of automotive exports shipped to N. America in Jan.-Aug.

Over 60 percent of South Korea's automotive exports during most of 2024 have been shipped to North America, according to industry data, raising concerns about the need for more balanced global export strategies. The combined exports of the five South Korean automotive firms — Hyundai Motor, Kia, GM Korea, KG Mobility, and Renault Korea Motors — totaled 1,857,111 units during the January-August period. Of those, 61.4 percent, or 1,140,073 units, were shipped to North America, mar

Oct. 6, 2024

Hyundai Motor joins forces with Waymo to bolster foundry business

Hyundai Motor announced Friday that it has entered a multi-year, strategic partnership with Google’s autonomous driving technology subsidiary Waymo as the Korean automaker looks to bolster its newly established autonomous vehicle foundry business. According to the announcement, the two sides will work together to integrate Waymo’s sixth-generation fully autonomous technology into Hyundai’s all-electric sports utility vehicle Ioniq 5. The Ioniq 5s headed for the Waymo fleet will

Oct. 4, 2024

KG Mobility vows to advance autonomous driving technology

KG Mobility will push for advancing autonomous driving technology based on its cooperation with companies that have core technologies in the self-driving sector, the Korean automaker said Friday. The Korando E-Motion, the country’s first nighttime autonomous driving taxi developed by KG Mobility and SWM, a local autonomous driving startup, began its ride-hailing service in Gangnam-gu’s trial operation zone last month. The two companies previously signed a memorandum of understanding

Oct. 4, 2024

[From the Scene] Hyundai Mobis catalyzes electrification with new mobility tech

UIWANG, Gyeonggi Province – Hyundai Mobis, a car parts manufacturing affiliate of Hyundai Motor Group, on Wednesday opened its electrification research wing to the press in Uiwang, 24 kilometers south of Seoul. The wing, built as a leading tech center for developing and testing key parts for electric vehicles, was completed in August 2023, and has been in use since December. With a record-breaking 1.7 trillion won ($1.3 billion) in investment this year alone, the company has introduced 65

Oct. 3, 2024

[Photo News] Back in black

Genesis, a luxury brand under Korean auto giant Hyundai Motor Group, announced the launch of the GV80 Black and GV Coupe Black on Wednesday. Marking the brand's second series of black editions following the G90 high-end sedan, the premium sport utility vehicle solely focuses on black, even in the details, for both the exterior and interior designs. The new vehicles will be on display at the Busan International Film Festival from Wednesday to Oct. 11. (Hyundai Motor Group)

Oct. 2, 2024

[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears

Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrades

Oct. 1, 2024

[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?

Hyundai Motor Company and General Motors seem like very different automakers. One is a South Korean juggernaut known for its efficiency and clean design, while the other is a symbol of American muscle, built on a century of dominance in trucks and sport utility vehicles. Yet earlier this month, these two giants signed a sweeping partnership. “In a time of intense competition from Tesla and an ever-growing Chinese EV threat, Hyundai and GM are probably betting that their combined strengths

Sept. 30, 2024

Hyundai Motor hits 100m vehicle milestone

Hyundai Motor Company marked the global cumulative production of 100 million cars Monday, a landmark record coming 57 years since the carmaker’s foundation. The company held a celebratory event at the car manufacturing plant in Ulsan earlier in the day, joined by Lee Dong-suk, head of domestic sales and chief strategic officer at Hyundai Motor Group, and Moon Yong-moon, head of the company’s labor union. The executives and staff marked the production of the first car after passing th

Sept. 30, 2024

Air mobility leaders to convene in Dubai next week

Global leaders in advanced air mobility are heading to Dubai for the fifth edition of the Airtaxi World Congress, slated to take place at the Grand Hyatt Dubai Conference & Exhibition Center from October 7-10. The next-generation clean air mobility event is expected to gather about 1,000 major players in the AAM sector such as airlines, airports, original equipment manufacturers, startups, investors and regulators. This year’s event participants include the US Federal Aviation Administ

Sept. 30, 2024

LG Energy Solution wins battery quality award in China, beating CATL, BYD

LG Energy Solution has been recognized in China for delivering the most high-quality electric vehicle batteries by the 2024 China Automotive Quality Research Awards, surpassing local manufacturers CATL and BYD in this category. The award ceremony, held in Beijing on Tuesday, was organized by Chinese automotive media platform CheZhiWang and Car Research Consulting Beijing, a Chinese automotive think tank established in 2017. The awards were based on consumer surveys, evaluating 128 vehicle models

Sept. 27, 2024

Posco Future M, GM push back timeline for Canadian battery materials plant

Posco Future M and General Motors have pushed back the completion of their cathode material plant in Canada, which is part of their joint venture, Ultium CAM. Originally scheduled to be finished by the end of this month, the plant’s completion has now been delayed to a yet-to-be-determined date. Posco Future M announced the delay on Friday, citing "local conditions" without providing specific details. The plant, located in Becancour, Quebec, is set to produce high-nickel cathode

Sept. 27, 2024

[Photo News] Kia's first EV-only plant

Hyundai Motor Company’s smaller affiliate Kia on Friday unveiled the carmaker's first electric vehicle manufacturing plant in Gwangmyeong, Gyeonggi Province. Ramping up production of the compact EV3 sport utility vehicle, Kia plans to produce a mid-sized sedan model, the EV4, next year. The 401.6 billion won ($304.2 million) facility has an annual production capacity of 150,000 units. (Kia)

Sept. 27, 2024