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Biz & Tech

Auto

Mon, April 19, 2021 | 14:28

Hyundai Motor Group unveils EVs at Shanghai Motor Show

South Korean auto giant Hyundai Motor Group on Monday introduced its electric vehicles (EVs) across Hyundai Motor, Kia and Genesis brands at the Shanghai Motor Show to target the fast-growing EV market. The world's No. 5 automotive group by sales showcased three electric models at the Shanghai International Automobile Industry Exhibition, the first among the world's largest a...

2021-04-19 14:15

Chip constraints create domino effect in Korea's auto industry

The global chip shortage has impacted major automakers worldwide and Korea is also seeing a domino-like effect with consecutive shutdowns of plants at major local powerhouses such as Hyundai, Kia and GM Korea. The shutdowns have impacted best-selling lineups - Hyundai will halt production of its Grandeur and Sonata sedans, Monday, as will GM Korea with its Chevy Trailblazer. ...

Kim Hyun-bin | 2021-04-18 16:37

Amid chip shortage, businesses seek pardon for Samsung chief

What options are left for SsangYong Motor under court receivership?

After SsangYong Motor was forced back into court receivership Thursday, market observers are watching whether the debt-ridden automaker will end up being liquidated or somehow manage to survive again by coming up with a drastic restructuring plan. The SUV maker said it will map out a revival plan, but industry analysts said Friday that chances are slim for the cash-strapped c...

Baek Byung-yeul | 2021-04-17 09:40

Korea to boost spending on R&D for next-generation cars

Korea said Friday it plans to increase investment in research & development (R&D) on key technologies for next-generation vehicles in a bid to help local automakers take the lead in the market. Finance Minister Hong Nam-ki said the government will spend 367.9 billion won ($328 million) in supporting R&D on next-generation autos this year, up 37 percent from the previous year.

2021-04-16 17:44

SK Innovation joins hands with Hyundai Motor to develop batteries

SK Innovation and Hyundai Motor Group are strengthening their partnership with the two agreeing Friday to jointly develop hybrid electric vehicle (HEV) batteries.

Baek Byung-yeul | 2021-04-16 15:14

Tesla's sales nearly quadruple in Korea last year

U.S. electric vehicle maker Tesla Inc.'s sales in South Korea nearly quadrupled last year from a year earlier on rising popularity of its vehicles, its financial statement showed Thursday. Tesla Korea said in a regulatory filing that it logged 716.2 billion won (US$640 million) in sales in the Korean market in 2020, up 295 percent from a year earlier.

2021-04-15 13:32

SsangYong Motor again under court receivership

Financially ill SsangYong Motor Co. was again put under court receivership Thursday as its Indian parent Mahindra Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic. The Seoul Bankruptcy Court approved the debt-rescheduling process for SsangYong Motor as U.S. vehicle importer HAAH Automotive Holdings Inc. didn't submit a letter of intent (LOI...

2021-04-15 10:23

LG-GM joint venture to build second U.S. battery plant in Tennessee

A joint venture between South Korean battery maker LG Energy Solution Ltd. and U.S. automaker General Motors Corp. will build its second battery factory in Tennessee to step up production, industry sources said Thursday. Ultium Cells, a joint venture between LG and GM, has picked a site in Tennessee for their second electric vehicle (EV) battery plant, which will be similar i...

2021-04-15 09:59

GM Korea to halt 2 plants over chip shortage next week

GM Korea to halt 2 plants over chip shortage next week

GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will suspend two of its three plants next week due to a lack of semiconductors parts. GM Korea will halt the No. 1 and No. 2 plants in Incheon, 40 kilometers west of Seoul, from April 19-23 as the semiconductor supply continues to remain fluid globally, the company said in a statement.

2021-04-15 09:59

LG-GM joint venture to build second U.S. battery plant in Tennessee

Kumho Tire receives 2021 German Red Dot Design Award

Kumho Tire has received Germany's Red Dot Design Award 2021 for its Ecsta V730 tire in the product design category. The Red Dot Design Award is a German international design prize awarded by Red Dot GmbH.

Kim Hyun-bin | 2021-04-14 15:24

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