South Korea’s Hyundai Motor vowed to increase sales of electric vehicles (EV) to more than half a million by 2025 as part of a bid to focus on new technologies and catch up with competitors, but some analysts observed the target as conservative and warned of the expenses. The announcement by Hyundai, the world’s fifth […]
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Hyundai, Kia sue four big U.S. railroads for fuel surcharges
Hyundai Motor and its Kia affiliate have taken legal action against the four largest U.S. railroads, alleging them of violating U.S. antitrust law by conspiring to drive up shipping costs though coordinated fuel surcharges. The South Korean automakers submitted three lawsuits on Monday alleging BNSF, CSX Corp, Norfolk Southern and Union Pacific of putting the […]
Benefits Of Buying A Used Kia Rochester
Owning a car can provide a lot of benefits. It allows you to travel from one location to another, without the need to check the availability of public transportation. But since buying a brand-new car is an expensive investment, more and more people are now buying used Kia cars in Rochester and other locations. For […]
Hyundai bets on U.S., South Korea sales as profit beats consensus
Hyundai Motor revealed a promising outlook for sales in South Korea and in the United States, and also reported its first increase in profit in five quarters, in an early indication of recovery even as it battles a decline in China. This comes as Hyundai’s heir apparent Euisun Chung reshuffles top management to restore stalled […]
Hyundai to Use DLT in Smartphone-EV Pairing Tool
South Korea’s largest automaker, Hyundai Motor, will use blockchain in its new tech for using electric vehicles (EVs) with smartphones. Sustainable mobility-focused news agency Green Car Congress reported on the progress on April 22. Hyundai reportedly declared the development of smartphone-EV pairing based performance adjustment technology that permits users to customize primary functions through a […]
Genesis reveals its vision for a small electric luxury car
You might be thinking of luxury cars that they big and ultra-roomy, but Genesis, the luxury automaker spun off from Hyundai some years ago, unveiled something Tuesday night on a much smaller scale. The Genesis Mint is a small electric concept car styled to go where long and wide luxury sedans are no comfort. It’s […]
Hyundai rejects report about tie-up with Tencent on driverless cars
Hyundai Motor on Sunday rejected a report that it had signed a initial deal with Chinese technology company Tencent Holdings to develop software for driverless vehicles. Hyundai’s comments follows the report from South Korea’s Maeil Business Newspaper citing unnamed industry sources on Saturday stating that the two companies prepared to conduct joint research and development […]
U.S. to investigate thousands of fires connected to Hyundai, Kia
The top U.S. auto safety regulator stated on Monday it will start an investigation into 3 million Hyundai Motor and Kia Motors vehicles after reviewing reports of more than 3,000 fires that injured more than 100 people. The National Highway Traffic Safety Administration (NHTSA) stated the probe is in response to a petition seeking a […]
Hyundai shareholders vote against Elliott proposal
Hyundai Motor Group companies’ shareholders turned down Elliott Management’s demands on Friday for a massive special dividend and board seats, dealing a blow to the American hedge fund’s campaign to shake up South Korean conglomerate. Although Hyundai fended off the threat from Elliott at the strictly watched vote, it still deals with a daunting challenge […]
U.S. states investigating Hyundai, Kia over vehicle fires
A group of U.S. states is probing Hyundai Motor and Kia Motors for possible unfair and deceptive acts associated with reports of hundreds of vehicle fires, Connecticut Attorney General William Tong stated on Monday. The South Korean automakers have recalled over 2.3 million vehicles since 2015 to address numerous engine fire risks in a range […]
Hyundai, Kia to spend $300 million in India’s Ola
South Korean automakers Hyundai Motor and Kia Motors plans to invest $300 million in Indian ride-hailing platform Ola, playing catch-up in the worldwide race to spend in mobility firms. The move comes after the $275 million that the both companies invested in Singapore-based ride-hailing firm Grab in 2018. Hyundai, Kia and Ola will work together […]
Proxy adviser recommends voting against proposals for Hyundai Mobis
South Korea’s top proxy adviser KCGS recommended shareholders vote against Elliott Management’s proposals for dividends and board members at Hyundai Mobis. KCGS stated it believed that Elliott seems to concentrate on improving the short-term value of the autoparts maker instead of addressing its future challenges.
Kia thinks about suspending its most significant plant in China
Kia Motors may suspend operations at its No.1 plant in China as part of its longer-term plans to improve competitiveness, a source knowledgeable with the matter stated on Sunday. Kia stated in a statement after the source informed Reuters on Sunday that the company is evaluating various plans to strengthen production and sales competitiveness in […]
Hyundai Motor Manufacturing Alabama donates $50K to American Red Cross
Hyundai Motor Manufacturing Alabama LLC is donating $50,000 to the American Red Cross for tornado relief efforts. The donation of $50,000 concerns aiding the Red Cross as they work to assist Alabama people devastated by the storm. Since the storm, the American Red Cross has been in Lee County to give food, shelter, and other […]
Hyundai in talks with investors to develop new headquarters
Hyundai intends to construct its new headquarters in Seoul by 2023. Hyundai Motor is in talks with possible investors to develop its new headquarters planned for the Seoul, South Korea to share extra investment costs worth about 3.7 trillion won ($3.27 billion), it stated on Sunday. The South Korean automaker stated in a statement that […]
