Sales of South Korea's largest automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. in the United States grew from a year earlier in January, the companies said Saturday, with both reporting sharp increases in sales of sport utility vehicles.According to Hyundai Motor, the company sold 40,796 cars in the US last month, up 2.9 percent from the same month last year.The company said its sales of SUVs jumped 37 percent on-year to 21,007 units, accounting for more than half of its overall s

Hyundai Motor’s sports utility vehicle Palisade that debuted late last year has been named Car of the Year by a group of Korean auto journalists, the organization said Wednesday. The vehicle also scored highest marks in the SUV category, the Korea Automobile Journalists Association said in a statement. (Yonhap)The association that comprises 48 newspapers, TV stations and magazines tested 58 vehicles from 21 brands from late last year at three separate test-drive sessions. The Palisade scored 93.

SK Holdings, the holding company of the nation’s second-largest conglomerate by market cap, has invested $100 million into American smart glass manufacturer Kinestral in a deal that gives the Korean company the right to manufacture and sell the product in China.Smart glass tints to darker neutral grays to block solar heat and light when voltage is applied. The product, used both for residential and commercial buildings, blocks 99 percent of ultraviolet light and reduces 30 percent of heat energy

South Korean auto giant Hyundai Motor is planning to launch its luxury brand Genesis in China, seeking a change in its sales strategy that has only targeted the mass market for years.Hyundai Motor is in preparation for the official launch of the brand, said officials in Seoul, and is looking for places to start the business in Shanghai.The carmaker is reviewing launches in the regional basis of the world’s largest auto market along with Shanghai to compete with other luxury automakers that have

Slovakia's finance minister called for cooperation with South Korea in a wide-range of areas such as hydrogen fuel cell electric vehicles and infrastructure, the government here said Tuesday.    Peter Kazimir made the comments in a meeting with his South Korean counterpart Hong Nam-ki at the government complex building in central Seoul, calling Asia's fourth-largest economy a very important country for Slovakia, according to the Ministry of Economy and Finance. Korea's Minister of Economy and Fi

South Korean solar panel maker Hanwha Q Cells was named the top photovoltaics installer in Europe and Australia this year by research institutes in the respective regions that surveyed its brand recognition, management and market share, the company said Tuesday.In Europe, Hanwha Q Cells has remained in the top position since its acquisition of German company Q Cells in 2012, and for four years in Australia. The survey was conducted and announced by EuPD Research, an information provider on busin

BMW Korea, the local branch of the German luxury carmaker, is betting on sales of the all-new 3 Series and X5 in the first quarter of this year. The seventh generation of the 3 Series, BMW’s best-selling series for more than 40 years, is ready to hit the market in March with a renewed design, technology-enhanced features and upgraded performance, the company said in a statement. 　 BMW 3 Series (BMW Korea)The sports sedan, more than 15 million units of which have sold worldwide, was unveiled at t

SsangYong Motor plans to renew its signature sport utility vehicle Korando in eight years next month, the company said Monday.Unveiling a teaser image of the vehicle, the company said it has the most “flamboyant” digital interface, state-of-the-art tech features and a sophisticated body design. The vehicle, code-named C300, is a successor to the Korando C SUV upholding the legacy of the 37-year-old brand. Korando is the oldest SUV brand in South Korea.A teaser image of Korando (SsangYong Motor)T

French carmaker Renault said Thursday that it has named Thierry Bollore as its new chief executive and Jean-Dominique Senard as board chairman, replacing former boss Carlos Ghosn following his arrest in Japan for alleged financial misconduct.Jean-Dominique Senard, newly-appointed Chairman of Renault, and Thierry Bollore, newly-appointed Chief Executive Officer of Renault, talk to journalists after French carmaker Renault`s board of directors meeting in Boulogne-Billancourt, near Paris, France, T

Hyundai Motor Executive Vice Chairman Chung Eui-sun has been named co-chair of the Hydrogen Council, a global alliance of hydrogen technologies launched to promote the energy transition from fossil fuels, the organization said Thursday.Chung replaces Yang Woong-chul, a former vice chairman of Hyundai Motor who left the carmaker late last year, and joins incumbent Co-chair Benoit Potier, chairman and CEO of Air Liquide, to lead the council for the next two years. (Yonhap)The Hydrogen Council said

Hyundai Motor has signed a memorandum of understanding with Vietnam’s Thanh Cong Group to set up a joint sales venture as part of efforts to expand its presence in the Southeast Asian country, the company said Thursday.Under the agreement, the companies will work together to expand sales and after-service networks to cater to growing demand in the country’s auto market. Vietnam’s auto market grew 27 percent last year. (Hyundai Motor)Established in 1999, Thanh Cong Group is a Vietnamese conglomer

EV version to launch next month; carmaker aims to sell 20,000 units in Korea, 100,000 overseas

A 25 percent tariff slapped on imported vehicles and auto parts by the United States could have a serious impact on South Korean and U.S. carmakers in the long term, a local think tank said Wednesday. If the US invokes Section 232 tariffs on vehicles and components imported from the European Union and other trading partners, it could have far-reaching consequences for the auto industry around the world, the Korea Economic Research Institute said in its recent report.  (Yonhap)"If the country doe

South Korea's international trade organization said Wednesday it held a meeting with the industry ministry to share ideas on supporting the local automobile industry amid growing protectionism around the globe.The Korea International Trade Association said it held this year's first round of regular forum talks with the Ministry of Trade, Industry, and Energy, centering on the car industry.  (Yonhap)While KITA and the ministry have held regular trade discussions once a year, the two decided to co

McDonald’s in Korea will replace all of its motorbikes used for its delivery service with electric scooters by 2021, the Korean branch of the fast food chain said Tuesday.“In the next three years, we are going to replace around 1,400 vehicles (operated by) restaurants under direct management with electric bikes,” it said in a statement. Electric bikes are lined up at a McDonald's chain in Jeju. (McDonald's Korea)The fast food giant has placed around 40 electric bikes late last year for its opera