[THE INVESTOR] U.S.-based ride-hailing service provider Uber Technology’s employees attended Hyundai Motor’s autonomous technology seminar Wednesday, the automaker confirmed, raising speculation of the two firms’ possible tie-up in the self-driving sector. “It is true that Uber’s working-level employees have joined a two-day autonomous technology seminar held in Hyundai’s research center,” a Hyundai Motor spokesperson told The Korea Herald by phone. The closed-door seminar was held together with

[THE INVESTOR] The nation’s largest automaker Hyundai Motor will soon roll out its electric vehicle Ioniq Electric, local news reported June 16. Ioniq Electric, the automaker’s first electric vehicle in the lineup of its eco-friendly car brand Ioniq, will soon be delivered to customers who preordered in cities across the country, including Jejudo Island, among others. Ioniq ElectricThe latest EV boasts an official driving range certification of 191 kilometers on a single charge, the longest mile

[THE INVESTOR] European countries are on alert after the Korean government decided to curb diesel-fueled cars as part of measures to counter fine dust in the country. The European Commission, the executive body of the European Union, has put Korea’s diesel-related measures as one of the agendas to discuss during its regular meeting next week, according to a report by local media Herald Business, which cited a government official. The move indicates that the countermeasure will be a serious hit t

[THE INVESTOR] U.S.-based ride-hailing service provider Uber Technology’s employees attended Hyundai Motor’s autonomous technology seminar Wednesday, the automaker confirmed, raising speculation of the two firms’ possible tie-up in the self-driving sector. “It is true that Uber’s working-level employees have joined a two-day autonomous technology seminar held in Hyundai’s research center,” a Hyundai Motor spokesperson told The Korea Herald by phone. The closed-door seminar was held together with

 Firms with robust top-line growth generally command high valuation multiples, but often see shares plunge if sales stall or profitability deteriorates, and even if such adversity is overcome, shares can rebound sharply even if valuation multiples do not. We focus on stocks with low price-to-sales ratios (P/S)—overly punished for flaws—that boast solid top-line growth and thus provide investment opportunities.Firms with robust top-line growth generally command high valuation multiples, but often

 2Q operating profit estimated at W1.69tr (-3.2% YoY)Hyundai Motor is expected to post 2Q16 sales of W23.6tr (+3.2% YoY) and operating profit of W1.69tr (-3.2% YoY, 7.2% margin). Domestic sales amounted to 120,000 units (+2% YoY) through May, but total domestic shipments came in at 300,000 units (-8% YoY) as exports went down 13% YoY 180,000 units.Domestic shipments, however, improved markedly from 1Q16 when there were concerns over capacity utilization rates. Domestic plant shipments stood at 2

[THE INVESTOR] The global electric vehicle market is predicted to grow around 60 percent this year and next year amid global efforts to boost the green car industry, according to market data Tuesday. According to Japanese market research firm B3, the volume of the global electric car battery market is expected to grow 66 percent this year to 16,000 kilowatt-hours from the previous year. This is a 23 times increase over the past seven years, compared to 1,140 kilowatt-hours in 2010. The figure is

[THE INVESTOR] Hyundai Motor Co. on June 14 announced a recall of the compact sport utility vehicle Tucson manufactured between May 2015 and March 2016. According to the company, Tucson vehicles produced over the period may experience their hoods coming open due to a fault in the secondary latch.  Hyundai Tucson.The company said that due to the fault, the hood may pop open while on the move if the primary latch is not properly fastened. The affected vehicles were all produced in Korea. The compa

[THE INVESTOR] Kia Motors Corp. revealed on June 14 that fault has been found with the hood latch of the minivan Carnival produced between June 2005 and April 2015. Due to the fault, Kia will recall nearly 220,000 units of the minivan, sold as Sedona in the U.S.The company said that the secondary hood latch may fail to operate due to corrosion. It added that such corrosion was mainly found in those in areas of the U.S. with heavy winter snows and that similar cases have not been reported in Kore

[THE INVESTOR] Driving down the road, when suddenly an ambulance screeches by with red sirens flashing and calling out to clear the way, another driver would naturally see that the special vehicle belongs to a nearby hospital, without thinking about where it comes from.Actually, almost all of the ambulances on the road speeding by in Korea come from the KOSDAQ-listed tech company Autech.Autech ambulance (Autech)It not only makes ambulances with auto partners such as Hyundai Motor and Kia Motors,

South Korean prosecutors said Monday they had summoned an executive of Audi Volkswagen Korea for questioning on charges against the automaker that include selling cars that had not received required certification and fabricating test results on fuel efficiency. The executive in charge of certification of the Korean arm is reportedly to be summoned at least three to four times for testimony. During the investigation, he may become a suspect, industry watchers said. This is the first probe into th

[THE INVESTOR] South Korean battery-maker Samsung SDI’s shares rebounded Thursday after Tesla Motors chief executive Elon Musk said the Korean firm may supply batteries for its energy unit. Earlier on Wednesday, Samsung SDI’s shares had tumbled 8 percent, as Musk denied news reports that Tesla would procure batteries for its electric vehicles from the Korean battery-maker. YonhapHe tweeted, “Would like to clarify that Tesla is working exclusively with Panasonic for Model 3 cells. News articles c

German automotive firm Continental AG’s interest in acquiring local tire company Kumho Tire has increased the pressure on Kumho Asiana Group chairman, as he has to solely prepare around 1 trillion won ($8.6 billion) to reacquire the firm. Local news reports said Tuesday Continental is in talks with financial investors to participate in the bidding for the Korean tire company, citing sources from the creditors of Kumho Tire. Other global firms, including French tire firm Michelin and Chinese stat

Chevrolet of General Motors debuts the 2016 Camaro, while Hyundai continues its performance car development push

BUSAN -- A representative from the Korean unit of emissions-rigging scandal-marred German carmaker Volkswagen said the company is set to submit software to the Korean Ministry of Environment to fix about 125,000 affected vehicles, a critical step to push for its recall plan here.“The software will be presented in the near future (to the ministry). Once the software is tested and approved by the ministry as planned, we expect the recall can start this summer,” Volkswagen Korea CEO Thomas Kuehl to