SsangYong Motor’s creditors will be requesting a rebidding of the merger and acquisition of the carmaker next Tuesday, according to SsangYong Motors. The debt-laden SsangYong Motors confirmed that creditors had brought up the prospect of looking for a new owner instead of completing the M&A procedure with the bidder Edison Motors for a while. South Korean electric carmaker Edison Motors had stepped closer to acquiring major stakes in SsangYong Motor in January after the two firms cli

Price increases of metals essential for electric batteries could spell trouble for automakers who are already struggling to keep costs down in the face of supply chain disruptions, market insiders said Wednesday. The price of nickel is surging as Russia, a key supplier of the metal, faces extensive global sanctions over its invasion of Ukraine. On Tuesday, the price of nickel doubled to $100,000 per metric ton, causing the London Metal Exchange to suspend trading for the rest of the day on wo

Hyundai Motor’s all-electric Ioniq 5 was named the UK car of the year, for its stylish design, power efficiency and practicality as a family car, the company said Tuesday. Ioniq 5 took the throne after being awarded the top prize in the Best Family Car category, beating out nine other UK car of the year category winners. Among the top 10 finalists were Fiat 500-e, Skoda Fabia, Kia Ceed, Genesis G70 Shooting Brake, Toyota Yaris Cross, Skoda Enyaq, BMW iX, Porsche Taycan, and Hyundai i20N.

South Korea's top automaker Hyundai Motor Co. has cancelled a plan to resume the operation of a factory in Russia due to continued supply disruptions amid the Ukraine crisis, company officials said Tuesday. Hyundai Motor originally planned to reopen the temporarily suspended operation of the factory in St. Petersburg on Wednesday but called it off due to persisting supply shortages of automotive semiconductors, according to the officials. The plant has been shut down since March 1. Automotiv

Hyundai Motor announced Tuesday that it will officially begin sales of the latest 2022 model of Avante, its compact sedan. The 2022 Avante comes with enhanced sound-absorbing doors and with more basic and extra options. The model will have 8-inch display audio in all trims, which before was only applied on its ‘smart’ trim. Hyundai added extra options such as ‘Smart Sense 3’ which includes rear collision prevention assistance and safety exit warning, as well as the cho

Tesla’s new tab-less cylindrical battery cell has the potential to become a game-changer in the electric vehicle industry, according to the Korea Automotive Technology Institute (KATECH). The KATECH released an industry trend report on Monday that said the EV market must prepare for what is to come after Tesla starts mass producing its 4680 batteries. Tesla’s 4680 battery is 46 millimeters in diameter and 80 millimeters in length, and offers six times the power of the carmaker&rsqu

Hyundai Motor, South Korea‘s largest carmaker, made its entry to the local secondhand car market official on Monday, after facing opposition from small- and medium-sized dealers in the market for years. The company will only sell high-quality certified used cars that have been driven less than 100,000 kilometers and owned for less than five years for customer satisfaction, it said. All cars to be sold must go through performance tests and maintenance service provided by the automaker and

Hyundai Motor’s standalone luxury brand Genesis announced Sunday that it is offering an “over-the-air” software update for its GV60 model that was launched last October. The software update will enhance the car’s advanced driver assistance system by improving forward and backward collision warnings, parking distance warnings, and remote smart parking assist features. With GV60, drivers will be able to download the updated software “over-the-air” while drivin

Han Sung Motor, an official dealer of Mercedes-Benz Korea, said Friday that it has clinched a contract to sponsor three breakdancers. The sponsorship is part of a new project called WANNA.B by Han Sung Motor. It was established this year to support B-boy and B-girls to achieve what they want to become in the future. Through such a project, Han Sung Motor said it will launch more activities to expand the realm of breakdance and facilitate communication with millennials and Generation Z. 

Hyundai Motor Group said Friday that its flagship electric model Ioniq 5 has received a higher score than Mercedes-Benz EQB from German automotive magazine AutoBild’s review. The carmaker said AutoBild compared the two models based on seven categories -– body, comfort, powertrain, driving dynamics, connected car, environment and cost -– along with 53 subcategories. Out of 800 points, Ioniq 5 received 582 points, 20 points more than the EQB.  Ioniq 5 received higher poin

South Korea’s aviation industry is set to take another hit after years of pandemic losses, as oil prices are soaring amid the escalating Ukraine conflict, driving up their fuel prices and operating costs overall. According to the air industry on Thursday, Brent crude oil jumped $5.93 to $111.19 per barrel on Wednesday night, its highest level since July 2014. The reason behind the price increase is due to a high possibility that western countries including the US might impose sanctions

Kia Motors, a sister company of Hyundai Motor, is aiming to sell 4 million vehicles globally by 2030, with half of them being eco-friendly models, the company said on Thursday. The carmaker will expand the portion of electric vehicles and hybrids in overall sales from the current 17 percent to 52 percent by 2030. For markets with state-supportive policies for EVs –- Korea, North America, Europe and China -- Kia said it will pull up its EV and hybrid sales portion up to 78 percent by 2030

New roadmap includes W12tr investment in software development of EVs

Kia announced Tuesday that its first dedicated electric vehicle EV6 has become the first South Korean car to be named the Car of the Year in the European Car of the Year awards. EV6 took the throne, beating out over 60 models launched in 2021 listed as candidates for the 2022 Car of the Year. Among the top seven finalists were Hyundai Ioniq 5, Ford Mustang Mach-E, Skoda Enyaq iV, Cupra Born, Renault Megane E-Tech and Peugeot 308. The Car of the Year was chosen by 61 auto journalists from 23

Hyundai Motor Group’s electric SUV models Ioniq 5 and EV6 have been picked as the most competitive electric SUVs in a ranking by the German automotive magazine Auto Zeitung, beating the same segment models from Mercedes-Benz, Tesla and Polestar, the carmaker said. Auto Zeitung’s latest edition compared Hyundai’s Ioniq 5, Kia’s EV6, Polestar’s Polestar 2, Tesla’s Model Y and Mercedes-Benz’s EQB, based on the categories of driving comfort, powertrain, dr