[THE INVESTOR] South Korea’s major automakers are seeking to expand their eco-friendly vehicles to other countries around the world this year, local news reported on June 26. Hyundai Motor plans to sell Ioniq Hybrid in the US and European markets in the second half of this year. Hyundai’s latest green car boasts a fuel efficiency of 22.4 km per liter, which is likely to compete with Toyota Prius, the market leader of hybrid vehicles. Ioniq Electric, the automaker’s first electric vehicle in the

[THE INVESTOR] GM Korea chief executive James Kim warned that any employee found to be taking part in illegal activities will be dealt with sternly.“Any illegal activities or customs concerning the company will be dealt with sternly,” Kim said in an email sent to employees on June 23.GM Korea chief executive James Kim. “Remember that the actions of an individual can create negative situations for the entire organization,” Kim said, calling on GM Korea employees to focus on further raising domest

[THE INVESTOR] An executive of Volkswagen Korea was arrested by prosecutors on June 24 for his alleged involvement in the firm’s irregularities in the emissions scandal.The Seoul Central District Court issued an arrest warrant for the official in charge of the vehicles’ certification process, surnamed Yoon, on a charges including forging documents and violating the Clean Air Conservation Act.The court said there are enough reasons indicating that he is responsible for the crimes.The 52-year-old,

[THE INVESTOR] Audi Volkswagen Korea -- the local importer and distributer of Germany‘s Volkswagen Group -- will recall 2,425 units of its Passat sedans for an engine oil pump failure, the South Korean transport ministry said on June 24.A defect in the oil pump shaft may result in low or no oil pressure, which could cause the engine to stop without warning. The government said 2,425 units of the Passat 2.0 TDI sedans produced between July 13, 2005, and May 16, 2008, are eligible for free repair

[THE INVESTOR] Volkswagen held its first annual shareholders meeting in Hanover, Germany, on June 22 (local time), the first in nine months since it became embroiled in the emissions rigging scandal.While the senior management and directors apologized and explained its ongoing recall plans in Germany and the US, there were no mention of compensatory measures for victims from other countries, including Korea, where 125,522 units were affected. “On behalf of the Volkswagen Group and everyone who w

[THE INVESTOR]  Hyundai Motor’s i30 compact maintained it spot as Australia’s best-selling vehicle for the third consecutive month in May, government data showed. The data compiled by Australia’s Federal Chamber of Automotive Industries showed that South Korea’s top automaker sold 3,771 units of its i30 compact in Australia in May, up 126 percent from a year earlier.                                                               i30Toyota Motor’s Hilux took the second place with sales of 3,675 un

[THE INVESTOR] Hyundai Motor announced on June 22 that a commercial vehicle assembly line in Algeria, and that the facility will being production next month. The facility was built by Global Motors, Hyundai’s commercial vehicle vendor in Algeria.The US$63 million facility will assemble knockdown kits of Hyundai’s commercial vehicles including Mighty and Trago. The facility’s annual production capacity is 15,000 units. Mighty.The facility was built to bypass tougher regulations on imported vehicl

[THE INVESTOR] Hyundai Mobis maintained its place as the world’s sixth largest auto parts maker in 2015, industry data showed on June 22. According to the rankings by sales compiled by Automotive News, Hyundai Mobis recorded sales of US$26.262 billion to retain the sixth place for the third consecutive year. The top place was retained by Robert Bosch with US$44.825 billion. Japan’s Denso rose to the second place with US$36.03 billion, followed by Canada’s Magna International with US$32.134 billi

[THE INVESTOR] Prosecutors on June 21 filed for an arrest warrant for the head of certification unit of Audi Volkswagen Korea over the automaker’s emission rigging scandal. The head, identified by his surname Yoon, has been charged with fabrication of private documents and obstruction of justice, Seoul Central District Prosecutors’ Office said. Yoon is the first executive in the snowballing case for whom prosecutors are seeking an arrest warrant. According to prosecutors, Yoon is suspected of ma

[THE INVESTOR] The prosecution team looking into Volkswagen’s emissions manipulation case are now inspecting models advertised as meeting Euro 6 emissions standards, a local daily reported on June 22. According to reports, Seoul Central District Prosecutors’ Office has requested 2015 Audi A1 vehicle to be inspected, making it the first Euro 6 vehicle to be included in the probe.About 280 units of 2015 A1 have already been sold in Korea. The 2015 Audi A1 lineup includes engines shared with 2016 A