Second-generation CLA 250 4matic coupe sedan also released

South Korean auto giant Hyundai Motor Group said Wednesday it has signed a deal with US electric vehicle startup Canoo to develop an electric vehicle platform for its upcoming models. Hyundai said it expects the new platform using Canoo's scalable skateboard architecture to allow for a simplified and standardized development process, which in turn would lower the prices of vehicles made by its two flagship units -- Hyundai Motor Co. and Kia Motors Corp. Canoo's proprietary skateboard architec

GM Korea Co., the South Korean unit of General Motors Co., said Wednesday that it will temporarily suspend one of three domestic car assembly plants due to shortages of Chinese parts amid the spreading coronavirus outbreak. GM Korea is set to close its main Bupyeong plant in Incheon, just west of Seoul, on Feb. 17 and 18 due to shortages of Chinese parts, including wiring harnesses, a key component for a variety of models, a company official said. The move would disrupt the production of the

  Jeju Air, the country’s largest low-cost carrier by sales, said it recorded 1.38 trillion won ($1.1 billion) in sales last year, along with 32.9 billion won in operating loss and 34.1 billion won of net loss.  The air carrier said its 2019 sales improved by 9.9 percent, but the operating profit and yearly net profit both turned into the red. In the fourth quarter last year, its sales came to 309.4 billion won, also recording an operating loss at 45.1 billion won and net loss

Hyundai Motor Group said Tuesday it has joined hands with the US Department of Energy to expand the use of hydrogen fuel cell technology globally and innovate further.  The company said it has signed a memorandum of understanding with the department in Washington, DC. Hyundai Motor Group’s Executive Vice Chairman Chung Euisun met with US Secretary of Energy Mark W. Menezes to exchange their vision and direction for the future hydrogen society, the company added.  “We ex

Carmakers in South Korea said Tuesday they have partially resumed vehicle production that was halted due to parts shortages caused by the new coronavirus outbreak, on resumed supply of parts from China. Hyundai Motor Co. and its affiliate Kia Motors Corp., the country's two biggest carmakers, said they restarted production at their domestic plants Tuesday, mainly using auto components shipped from Southeast Asia. "Some parts from Southeast Asia arrived at the plants Monday and our South

Manufacturing plants of the country’s two largest automakers, Hyundai Motor and Kia Motors, which had been suspended due to disruption of parts supplies will resume operation from Tuesday, industry sources said Monday. The resumption follows delivery of Chinese-made wiring harnesses, a crucial auto part laid on the floor of the vehicles during initial assembly. A portion was set to arrive here Monday via flights and vessels from Qingdao and Weihai, according to a Hyundai Motor official.&n

Hyundai Motor Group said Sunday its Executive Vice Chairman Chung Euisun met with state governors in the US during a summit where he exchanged his thoughts on the future of hydrogen economy and mobility innovation.  The National Governors Association Winter Summit is held twice a year, inviting governors of 50 states and five self-governing dominions, where major business and political leaders gather to exchange issues and policies.  Chung offered a toast during the reception for th

SsangYong Motors’ balance sheet went from bad to worse in 2019, due to a sharp fall in exports. The automaker said Friday its operating losses skyrocketed to 281.9 billion won ($237.4 million), a whopping 339.3 percent increase from 64.2 billion won a year earlier, and taking its run of losses to 12 consecutive quarters. The figure is the worst since 2009, when the company saw a loss of 295 billion won in the aftermath of global financial crisis. Despite a minor 2.2 percent dip in r

Hyundai Motor Group Chairman Chung Mong-koo will be the first Korean to be inducted into the Automotive Hall of Fame, the automaker said Thursday. The 2020 induction ceremony will be held in Detroit at the MGM Grand Ballroom on July 23. Established in 1939, the organization has honored some 800 business leaders around the world who have created, shaped and changed the mobility market. Past inductees include Ford founder Henry Ford, inventor Thomas Edison, founder of Mercedes-Benz Karl Be

Hyundai Motor Co., South Korea's biggest carmaker by sales, on Friday suspended all of its domestic car assembly plants due to a lack of parts from China amid the spreading coronavirus outbreak, with other local automakers set to halt production lines or considering doing so. Hyundai Motor plans to halt its assembly plants by Monday, while its affiliate Kia Motors Corp. is planning to bring all of its local assembly lines to a halt Monday.   Hyundai and Kia began to reduce output a

Hyundai Motor Group said Thursday it has decided to urgently inject 1 trillion won ($847 million) of capital into local small and midsized auto parts makers struggling amid low demand from automakers due to a disruption in parts supply from China. Some 350 companies that supply auto parts to Hyundai Motor, Kia Motors, Hyundai Mobis, Hyundai Wia and Hyundai Transys will be given 692 billion won worth of product payment in advance, as well as 308 billion won of interest-free loans for the automot

Fears of the new coronavirus have prompted South Korean air carriers to suspend more than 60 percent of their flights to China as of Thursday, according to industry sources. A total of 58 of the 94 China-bound routes operated by eight Korean carriers have been suspended due to the coronavirus scare.  The airlines have also reduced the number of flights on 25 routes to China, meaning 88 percent of all routes between the two countries have been affected by the outbreak.  The country&

  Japanese car imports to South Korea halved in the fourth quarter last year as the boycott of Japanese products in the country continued, latest data showed Thursday. The value of imported Japanese cars in South Korea amounted to $203 million in the period, a 51.9 percent drop from $422 million a year earlier, according to data from the Korea Customs Service. The market share of Japanese cars -- which commanded 15.2 percent of total imported cars -- plummeted to 6.2 percent in the same

Korean Air Lines Co., South Korea's biggest airline and national flag carrier, said Thursday it will sell property and non-core assets to improve its financial status. Korean Air plans to sell its idle property in central Seoul and a non-core business unit to emerge as a financially healthy company amid growing uncertainties in the airline industry, the company said in a statement. The company aims to sell its land and building in Songhyeon-dong and an entire 100 percent stake in Wangsan Lei