South Korean auto parts maker Hyundai Mobis has started to produce instrument clusters with digital displays with an aim to generate future growth, the company said Wednesday.Making inroads into the global market for digital instruments, the auto component unit of Hyundai Motor Group, will supply 7-inch digital displays for the electric version of the Kona, a compact sport utility vehicle this month, it said in a statement.By 2020, the company also plans to produce 12.3-inch digital instrument c

Auto parts maker aims to seize $10 billion in orders globally by 2022

South Korean auto giant Hyundai Motor and its sister company Kia are expected to see a turnaround in their respective sales, with industry insiders raising their sales outlook for the second quarter.The two are expected to post nearly 10 percent on-year sales growth, moving closer to their annual goal of 7.55 million units this year, according to officials with knowledge of the matter. Hyundai Motor Vice Chairman Chung Eui-sun (right) poses next to the company’s new sports sedan Lafesta at the B

While German carmakers are facing investigation overseas over cheat devices, foreign carmakers operating in South Korea have been charged with different issues here: submitting falsified emissions test documents and selling vehicles without authorization.The first round of government hearings in Korea on BMW Korea and Porsche Korea’s emissions results took place last week.In an investigation by the Ministry of Environment and Korea Customs Service, BMW Korea was found to have falsified emissions

Hyundai Motor and Kia Motors, the country’s top two auto makers, flagged a combined 631,225 units in global sales last month, up 10.4 percent on–year, the company said Thursday. This marks the first two digit growth rate since December 2014, boosted by recovery in external factors including improved diplomatic relations between Seoul and Beijing, coupled with all-out marketing efforts of the automaker‘s top brass led by Vice Chairman Chung Eui-sun. Sales recovery was evident in China, where Hyun

Hyundai Motor said Wednesday it is working with the Transport Ministry and Ansilyeon, a citizens’ group for safety, to help educate youths on road safety such as by distributing learning materials.Hyundai Motor President Chung Jin-haeng released the plan at an event attended by Vice Minister for Transport Kim Jeong-ryeol and Kwon Byung Yoon, director of the Korea Transportation Safety Authority, and Choi In-young, co-chairman of Ansilyeon at Yunjung Elementary School in Seoul.Aimed at raising aw

World‘s first and only exhibition on pure EVs aims for carbon-free Jeju Island

At EV forum, Kepco unveils world‘s first mobile robot charger, charging tower plan

Asiana Airlines, the country’s second-largest air carrier, has launched a direct air route to Italy’s Venice that operates three times a week, marking the first case among East Asian airlines, according to company officials.A launch ceremony took place Tuesday at the presence of Asiana Airlines CEO Kim Soo-cheon and other officials at Incheon International Airport Terminal 1, the company said.Venice is the local carrier’s sixth direct European destination following Frankfurt, London, Paris, Ista

Businesses, experts and government representatives from around the world will gather on the nation’s southern resort island of Jeju this week to discuss the future of electric vehicles and seek global partnership for universal standardization.The fifth annual International Electric Vehicle Expo kicks off Wednesday through Sunday at Jeju Convention Center, presenting evolving technologies of green vehicles and new business opportunities for participants, the organizers said Monday.“This year’s ex

General Motors Co.'s Chief Financial Officer Chuck Stevens said the agreement reached last week by the carmaker's South Korean unit will lay the foundation for a turnaround next year, GM Korea Co. said Monday. In a conference call to talk about its first-quarter results, Stevens said GM Korea will be able to reduce costs by $400-$500 million a year by shutting down one of four car assembly plants in Korea and reorganizing the overall workforce.He said GM Korea, under a package of restructuring m

Though still small, motorcycle market shows steady growth led by importers

Hyundai Motor, South Korea’s No. 1 automotive company, shared plans to cancel 8.65 million shares of its stock, which equates to 960 billion won ($892.8 million), in a bid to restore shareholder value, the company said Friday. This is the first time in 14 years that Hyundai has cancelled shares. In 2004 it cancelled 1.2 million shares. (Yonhap)Hyundai disclosed through DART that it would cancel 4.41 million common stock and 1.28 million preferred stock it currently owns on July 27, and retire 2.

Auto parts maker sets annual growth at 8 percent to W44tr by 2025 in first-ever long-term strategy

US auto giant General Motors and the Seoul government agreed to inject a combined $7.1 billion to save the ailing local unit, the company said Thursday.GM has also agreed to sustain operations here for over 10 years, and grant the state-run Korea Development Bank veto rights.GM will conduct a $2.7 billion debt-equity swap on GM Korea on top of $4.4 billion investments here, while KDB will take part by investing 800 billion won, according to the share ratio.GM President Dan Ammann (left) speaks d