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The Korea Herald

Automobiles

March 20, 2019
Kia mulls EV production in China

Kia Motors said on March 20 that it is considering producing electric vehicles at one of its three plants in China amid weak sales there. “The company is considering halting the production of existing models such as the Sportage sport utility vehicle and the localized KX7 SUV and manufacturing...
March 20, 2019
Renault Samsung assigned to new region amid weak sales

Renault has placed its South Korean unit under the expanded Africa-Middle East-India-Pacific regional headquarters in its realignment of six regional business headquarters, Renault Samsung Motors said on March 20. Renault Samsung had been part of Renault’s Asia-Pacific Region business headquar...
March 20, 2019
Govt moving to make commercial cars run on hydrogen by 2035

South Korea is aiming to get all commercial vehicles in the country to run on hydrogen fuel cells by 2035 in a move to help ease fine dust air pollution, the Transport Ministry said on March 20. In a report submitted to Rep. Youn Kwan-suk of the ruling Democratic Party, the ministry said it aim...
March 20, 2019
Hyundai Mobis partners with Russia’s Yandex on autonomous cars

Hyundai Mobis has partnered with Russia’s biggest technology company Yandex NV to jointly develop autonomous vehicles, the company said on March 20. In its research and development center in Yongin, southeast of Seoul, Hyundai Mobis inked an initial agreement to develop a prototype driverless ...
March 18, 2019
Hyundai AutoEver IPO to raise $150m

South Korea’s ICT service provider Hyundai AutoEver is poised to raise 168.4 billion won ($148.63 million) in its forthcoming initial public offering, a disclosure showed on March 18. Hyundai AutoEver’s initial offering price was set at 48,000 won per share, above the ceiling of the suggested pr...
March 18, 2019
British Embassy to help promote UK-made EVs in S. Korea

The British Embassy in Seoul said on March 18 it will help carmaker Jaguar Land Rover’s promotion of its all-electric vehicle in South Korea amid rising demand for environmentally friendly cars. It has kicked off a five-day “Green is Great” campaign in order to highlight areas of cooperation...
March 18, 2019
Elliott claims dividends request won’t affect Hyundai’s liquidity

US hedge fund Elliott Management said on March 18 that its dividends proposal for Hyundai Motor and its auto parts affiliate Hyundai Mobis will not affect their liquidity or future investment plans. The hedge fund made the claim regarding the ongoing dispute over the firms‘ dividend plan for t...
March 17, 2019
Sonata preorders surpass 10,000 mark in 5 days

The number of preorders for Hyundai Motor’s all-new Sonata has surpassed the 10,000 mark in five days across the country since the carmaker start receiving orders on March 11, the company said on March 17. The eighth-generation Sonata sedan is selling faster than the previous one, around 2,000 u...
March 15, 2019
Hyundai Motor’s heir apparent named director at affiliate Kia

Shareholders of Kia Motors voted on March 15 to name Hyundai Motor Group Executive Vice Chairman Chung Eui-sun as director at the key affiliate. The automotive conglomerate’s heir apparent has served as a part-time director on Kia’s board, while the carmaker’s President and CEO Park Han-woo,...
March 15, 2019
Hyundai wins NPS’ support in blow to Elliott

Hyundai Motor Group won support from the National Pension Service for its key proposals ahead of its shareholders meeting on March 22, in a blow to Elliott Management. Elliott Corp. founder Paul Singer NPS is the second-largest shareholder of Hyundai Motor. On March 14, it decided to back propos...
March 14, 2019
GM Korea to supply at least 6,000 Bolt EVs this year

GM Korea said on March 14 it will supply at least 6,000 Chevrolet Bolt electric vehicles this year amid rising local demand for environmentally friendly vehicles. The target volume for this year exceeds the accumulated 5,500 units the Detroit-based carmaker has sold in the South Korean market s...
March 14, 2019
S. Korea’s auto exports down 1.6% in Feb.

The number of South Korean cars shipped overseas fell 1.6 percent on-year in February due to weaker demand for sedans and a smaller number of business days, government data showed on March 14. According to the Ministry of Trade, Industry and Energy, automakers here shipped 160,442 cars overseas...
March 14, 2019
Eight imported brands to recall 74,000 vehicles

Eight imported vehicle brands, including one two-wheeler importer, will voluntarily recall nearly 74,000 vehicles to repair faulty components, the Transport Ministry said on March 14. This is the latest in a series of recall plans for foreign carmakers and importers of foreign vehicles, according ...
March 12, 2019
Kia launches upgraded K5 sedan to boost sales

Kia Motors on March 12 launched the upgraded K5 sedan in the domestic market to boost sales. Higher-trim models of the upgraded K5 come with safety features, such as the front collision avoidance, lane keeping assist and driver awareness warning systems, Kia said in a statement. The K5 is avai...
March 12, 2019
Hyundai AutoEver eyes future growth momentum via IPO

Hyundai AutoEver said on March 12 it will lead the group’s paradigm shift by providing new platform-based IT services through its planned listing on the country’s main stock market this month. The ICT service provider of the country’s automotive conglomerate won approval for the initial publ...

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