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Thu, January 28, 2021 | 23:43

Competition heating up for hydrogen vehicles

Competition heating up for hydrogen vehicles

The market for hydrogen-powered vehicles is gaining momentum amid global interest in the fuel as a means of meeting carbon targets. Major economies have announced plans to achieve carbon neutrality by 2050 and have unveiled national roadmaps for building a hydrogen economy. These efforts are placing an increased focus on eco-friendly vehicles such as electric vehicles (EVs) a...

Kim Bo-eun | 2021-01-28 17:50

GM Korea chief picks labor issues as key concern for investment

GM Korea chief picks labor issues as key concern for investment

Lack of labor flexibility, continued industrial action and annual wage negotiations remain major challenges to doing business in South Korea and attracting foreign investment, the chief of GM Korea Co. said Thursday. GM Korea President and Chief Executive Kaher Kazem said there are things to be improved to make multinational companies invest further in Korea.

2021-01-28 16:12

Hyundai Mobis' EV component sales takes off

Hyundai Mobis' EV component sales takes off

Hyundai Mobis said Thursday its electric vehicle (EV) component sales showed noticeable improvements in the fourth quarter of 2020, enabling the Hyundai Motor Group auto parts unit to increase its order target by more than $1 billion for this year.

Nam Hyun-woo | 2021-01-28 15:54

Tesla reports $721 million in 2020 earnings, first profitable year

Tesla reports $721 million in 2020 earnings, first profitable year

Tesla Motors reported its first annual profit Wednesday following a big jump in auto deliveries despite the upheaval of the coronavirus pandemic as it signaled confidence for more growth in 2021.

2021-01-28 13:35

Hyundai Motor chief designer wins FAI award

Hyundai Motor chief designer wins FAI award

Lee Sang-yup, head of Hyundai Motor's Global Design Center, has received the grand prize at a renowned vehicle design award festival in France, being recognized for his contributions to advancing the Korean carmaker's design capability.

Baek Byung-yeul | 2021-01-28 12:38

SsangYong Motor says deal with potential buyer 'still under way'

SsangYong Motor says deal with potential buyer 'still under way'

SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra Mahindra Ltd., said Thursday that its Indian parent company is still in talks to sell its controlling stake, denying media reports that the deal has fallen through. SsangYong Motor made the statement in response to media reports that Mahindra and HAAH Automotive Holdings, Inc., a California company that im...

2021-01-28 12:33

SsangYong faces receivership as Mahindra-HAAH deal collapses

SsangYong faces receivership as Mahindra-HAAH deal collapses

SsangYong faces receivership as Mahindra-HAAH deal collapses

SsangYong Motor entering court receivership now appears to be inevitable, after the troubled carmaker's largest shareholder, Mahindra & Mahindra, paid off a 30 billion won ($27.15 million) debt it owed. This is seen as a sign that the Indian auto giant is giving up on its Korean unit, which is in an autonomous restructuring support (ARS) program giving the two time to find ne...

Nam Hyun-woo | 2021-01-27 16:56

SsangYong Motor says deal with potential buyer 'still under way'

Kia dismisses concerns over automotive chip shortage

Kia dismisses concerns over automotive chip shortage

Kia has dismissed concerns of an automotive chip shortage, assuring consumers that is has not been affected by the scarcity that global automakers are currently experiencing due to the excessive demand for chips for IT devices which occurred after the coronavirus outbreak, the Hyundai Motor Group affiliate said Wednesday.

Baek Byung-yeul | 2021-01-27 16:32

Hyundai to acquire LG's automotive components firm

Hyundai to acquire LG's automotive components firm

LG Hausys said in a filing to the Korea Exchange, Tuesday, that it had selected Hyundai BNG Steel as the preferred negotiator to acquire its automotive components and industrial film businesses.

Kim Hyun-bin | 2021-01-26 16:23

Hyundai Motor bets big on electric cars in 2021

Hyundai Motor bets big on electric cars in 2021

Hyundai Motor bets big on electric cars in 2021

Hyundai Motor has vowed to focus more on electric vehicles (EVs) in 2021 in a bid to make its way into the rapidly growing eco-friendly car market, the carmaker said Tuesday.

Baek Byung-yeul | 2021-01-26 16:23

Hyundai to acquire LG's automotive components firm

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