Hyundai stops work at Korean factory after worker tests positive for coronavirus

Hyundai has closed a factory in South Korea on Friday after an employee tested positive for coronavirus, disrupting production of well-known models such as Palisade sport utility vehicle. Shares of the automaker dropped down over 5% following the news, while the wider market dropped 3.3%. The closing dealt a fresh setback to the automaker, which has […]

Some South Korean Samsung, Hyundai employees self-quarantine

Samsung Electronics logo

Some South Korean workers at Samsung Electronics and Hyundai Motor are staying home as a precautionary measure as South Korea scrambles to avoid the coronavirus outbreak from causing widespread disruption in the country. About 1,500 employees of Samsung Electronics’ phone complex in the southeastern city of Gumi have self-quarantined after one of its employees was […]

Hyundai signs development deal with electric car startup Canoo

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Korean automaker Hyundai Motor expanded its future transportation portfolio with an agreement to jointly develop electric vehicles with California startup Canoo, the companies stated last week. It was the second such deal declared in recently by Hyundai and sister company Kia Motors, which in mid-January stated they would spend $110 million in UK startup Arrival […]

Kia in talks to spend over $1.1 billion to move a plant within India

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South Korea’s Kia Motors is in discussion with the Indian state of Tamil Nadu regarding the possibility of moving a $1.1 billion plant out of neighboring Andhra Pradesh. The move comes after a few months after it fully opened, because of policy changes last year, sources knowledgeable with the talks informed Reuters. Kia inaugurated the […]

Hyundai and Kia Motors to keep Chinese plant idled until February 16

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Hyundai Motor and affiliate Kia Motors plan to resume production at their Chinese factories on February 17, a representative said on Friday. They suspended Chinese production because of the coronavirus outbreak. The five-plant network of Hyundai is capable of making 1.4 million vehicles per year, in a coastal location facilitating importing components and exporting vehicles […]

Hyundai, Kia backs electric van startup Arrival Ltd with $110 million investment

Arrival Ltd

South Korea’s Hyundai Group is backing a UK electric vehicle startup that plans to start selling battery-powered delivery vans in 2021, the companies stated last week. Hyundai Motor and sister firm Kia Motors are making an investment of 100 million euros ($110 million) in Arrival Ltd. Founded in 2015 and based in London, Arrival has […]

Hyundai reveals first Genesis SUV, making further expansion overseas

2021 Genesis GV80

Hyundai Motor revealed the first sport-utility vehicle (SUV) under its Genesis brand on Wednesday, move analysts stated was an important move for the automaker’s expansion in overseas markets. The brand spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung is dedicated to revamping the image of the value-for-money automaker. However, […]

Hyundai Development’s consortium closes $2.2 billion acquisition of Asiana Airlines

HDC Hyundai Development Company logo

South Korean Seol-based Hyundai Development Company (HDC) stated on Friday its consortium has closed on its 2.5 trillion won ($2.16 billion) acquisition of a controlling stake in the nation’s second-biggest carrier Asiana Airlines Inc. Hyundai Development stated out of the 2.5 trillion won its consortium with Mirae Asset is going to pay for the acquisition, […]