Hyundai Motor Group’s smaller affiliate Kia’s second auto manufacturing plant in Gwangmyeong, Gyeonggi Province, will resume operation in February, after an eight-month refurbishment to prepare the plant for electric vehicle production, industry sources said Tuesday. The company reportedly announced to the factory’s production line staff, who were on paid leave during the monthslong shutdown, that they would start working from Jan. 30. An official from Hyundai Motor Group confi

Hyundai Motor Group and Korean battery manufacturers called for leniency in the US electric vehicle tax credit rules blocking battery sourcing from foreign adversaries including China, according to the Federal Register. In public comments submitted to the open-access website for US federal government documents on Thursday, Hyundai said, “It is unlikely that other countries will be able to replace China in the short term,” underscoring the global market’s dependence on the No. 1

Mercedes-Benz said Friday it is poised to roll out nine new cars in Korea this year, highlighting the strategic importance of the Korean market for the German luxury carmaker. The new lineups include five full-change models – the E-Class sedan, CLE Coupé, CLE Cabriolet, Mercedes-Maybach EQS SUV and electric G-Class – and four face-lift models – the Mercedes-Benz GLS, EQA, EQB and G-Class. One of the key launches is the 11th-generation E-Class sedan, a complete revamp fro

This year’s US presidential election is expected to be the biggest geopolitical risk for Korean companies already reeling from supply chain disruptions and protectionist policies amid an escalating Washing-Beijing rivalry, according to a global specialist in risk management. “The US election could have more direct impacts on Korean businesses in several markets (compared to other risk factors),” said Andrew Gilholm, director of analysis practice for Greater China and North Asia

Hyundai Motor Group said Wednesday it has set up a new research and development division in its push for software-defined vehicles by combining several teams across the auto giant's affiliates. The Advanced Vehicle Platform Division integrates three software development units -- its in-house SDV division and two separate teams at the carmaker’s research centers. Other teams working on the next-generation automotive platform and software that used to be under the leadership of the carm

Hyundai Motor Group plans to invest an additional 70 billion rupees ($845 million) into an automotive plant owned by General Motors in Talegaon, India, according to Indian authorities on Tuesday. According to an online post on X, formerly Twitter, uploaded by Devendra Fadnavis, deputy chief minister of the western state of Maharashtra, the Korean auto giant plans to sign a memorandum of understanding for the new funding during this week’s World Economic Forum in Davos, Switzerland. Fadnavi

SK Ecoplant, the construction arm of South Korea’s second-largest conglomerate SK Group, said Monday it will boost business ties with the US state of Nevada on electric vehicles and electronic waste recycling. SK Ecoplant CEO Park Kyung-il met with Governor of Nevada Joe Lombardo on Sunday at the company’s recycling subsidiary TES in Las Vegas. The two leaders looked around the e-waste recycling plant and discussed TES’ e-waste business, battery recycling technology and global

Samsung SDI has outpaced its Korean rivals by supplying batteries to the largest number of electric vehicles under the heightened US EV tax credit regulations that went into effect Jan. 1, according to industry sources on Sunday. Of the 19 EVs eligible for the new incentive rules this year under the Inflation Reduction Act, 15 car models will use Korea-made batteries, while China’s CATL and AESC Group, which made the cut last year, have been removed from the list. Samsung SDI topped the li

LAS VEGAS/SEOUL -- Chey Jae-won, executive vice chairman of SK Group and SK On CEO, on Wednesday vowed to accelerate plans for the battery maker's market debut at the CES 2024 tech show being held in Las Vegas this week. “It’s hard to predict (the exact timeline for the initial public offering) because we have to consider market conditions and prepare (for the IPO process),” said Chey to the press. “But we’ll push forward (the schedule) as soon as possible when

42dot, the software mobility unit under Hyundai Motor Group, clinched a deal with Samsung Electronics to develop an artificial intelligence-based software-defined vehicle platform on the sidelines of the CES 2024 tech show in Las Vegas on Tuesday. Song Chang-hyeon, who doubles as 42dot CEO and president of the software-defined vehicle unit at Hyundai Motor Group, and Park Yong-in, president of the system large-scale integration division at Samsung Electronics, participated in a signing ceremony

Hyundai Mobis, a car parts manufacturing unit under Hyundai Motor Group, unveiled Mobion, an electric vehicle running on its self-driving e-Corner System technology for the first time at CES 2024 in Las Vegas on Wednesday. The technology incorporates the world’s first in-wheel motors consisting of four small motors that incorporate rotational steering and electronic braking in one module installed in the car wheels. “The e-Corner system reduces physical connections of mechanical devi

LG Innotek, an electronic component manufacturing unit under LG Group, said Tuesday it unveiled cutting-edge technologies for autonomous driving cars and 5G telecommunications at the CES 2024 in Las Vegas on Monday. The company carried out a pre-booth tour and introduced three zones in the exhibition booth -- mobility, artificial intelligence and future pathway -- prior to the official unveiling. In the main mobility zone, the company displayed a mock-up of a self-driving car installed with 18 c

Heavy and energy industries conglomerate Doosan Group showcased futuristic technologies ranging from non-carbon energy solutions to autonomous heavy equipment at the CES 2024 in Las Vegas on Monday, a day before its official opening. Doosan Bobcat Vice Chairman Scott Park, Kim Do-won, president and chief strategy officer at Doosan Group, and Doosan Enerbility Vice President Song Yong-jin attended a press conference to share the group's key products and services. Doosan Bobcat, Doosan Group&

SK On is poised to supply high-performance nickel, cobalt and manganese (NCM) batteries for Chinese-made electric buses imported to South Korea, industry sources said Monday. The battery manufacturer recently clinched a deal with EM Korea, an electric bus sales company, which will install the batteries in China Hi-Tech Group Corporation’s EFICITY bus models, according to media reports. An SK On official confirmed the deal and said the NCM batteries have energy density levels beyond the ele

A group of 33 US senators on Thursday called on Hyundai Motor Group and 12 other auto manufacturing companies not to interfere with the United Auto Workers’ ongoing efforts to unionize at their US plants. Democrats Gary Peters, Ron Wyden, Dick Durbin and others signed a letter and sent it to top executives at Hyundai Motor Group, Tesla, Toyota, Volkswagen, Mercedes-Benz, BMW, Rivian and others, urging them to remain neutral in union organizing activities. “We are concerned by reporti