Hyundai to Use DLT in Smartphone-EV Pairing Tool

2019 Hyundai Palisade images

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 […]

Hyundai rejects report about tie-up with Tencent on driverless cars

Tencent Holdings

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 […]

Hyundai declines Elliott’s payout call, shares increase ahead of showdown meeting

Elliott Management

Hyundai Motor Group on Tuesday declined demands by U.S. activist investor Elliott Management for a 7 trillion won ($6.3 billion) dividend payout and new board members, complicating attempts to renovate South Korea’s second-biggest conglomerate. Opposition from Elliott led Hyundai to ditch an attempt to overhaul its ownership structure in 2018, and Executive Vice-Chairman Euisun Chung […]

South Korean prosecutors raid Hyundai’s office in recall investigation

All new Hyundai Santa Fe

South Korean prosecutors on Wednesday raided the office of Hyundai Motor’s quality division located in southern Seoul as part of an investigation into how the automaker and affiliate Kia Motors managed vehicle recalls over engine defects, Chosun Biz reported. In 2017, South Korean civic group YMCA submitted a complaint with prosecutors accusing the automakers delayed […]

Hyundai observes Russia auto market growth slowing in next year

Hyundai i10 images

South Korea-based automaker Hyundai Motor expects growth in the Russian auto market to reduce significantly in 2019, the head of its Russian branch said on Monday. Automakers have warned Russia’s strategy to raise value added tax in next year would hit vehicle sales, which have recently just started to recover from four years of stagnation. […]