Automotive

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  Hyundai Motor posts 23.3 percent increase in Q2 net profit thanks to good performance at home SEOUL -- South Korea's top auto company, Hyundai Motor, posted a 23.3 percent increase in its net profit in the second quarter of this year, helped by a weak won and brisk domestic sales of new models including sport utility vehicles. Overseas sales remained sluggish in major markets such as China and the United States. In a preliminary earnings report on Monday, Hyundai Motor said its second-quarter net profit was up 23.3 percent on-year to 999 billio 2019-07-22
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  Renault Samsung Motors releases AI-based infotainment system for SUV SEOUL -- The South Korean unit of French carmaker Renault has unveiled an artificial intelligence-based car infotainment system which allows drivers to safely maintain their attention on the road ahead and control audio and navigation features using voice. Renault Samsung Motors said in a statement on Monday that New QM6, the latest sport utility vehicle (SUV) model released in June, will be equipped with "EASY LINK", an artificial intelligence (AI) -base 2019-07-22
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  Hyundai Mobis develops mirrorless system for next-generation and autonomous vehicles SEOUL -- Using high-performance small digital cameras, Hyundai Mobis, a parts-making unit of South Korea's Hyundai auto group, has developed a camera monitoring system that would be used widely for mirrorless next-generation and self-driving vehicles. Hyundai Mobis said in a statement on Sunday that its Camera Monitor System (CMS) would drastically improve driving safety by securing a wider angle of view than conventional mirrors while innovatively c 2019-07-22
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  Policymakers pledge drastic regulation for mobility platform operators SEOUL -- South Korean policymakers proposed drastic deregulation for ride-sharing and car-hailing services, which have been stagnant due to strong objection by taxi drivers, vowing to achieve connected mobility and stability in the country's troubled taxi industry together for shared growth. The Ministry of Land, Infrastructure and Transport Ministry said Wednesday that mobility platform operators should distribute earnings to create a state-managed fund, which 2019-07-17
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  SK Energy to start fast EV charging service at gas stations SEOUL -- SK Energy, a refinery arm of South Korea's SK Group, will provide charging services for electric vehicles at 11 gas stations in August. The company would use chargers capable of charging a 60kW-class electric vehicle in about 30 minutes. Despite state subsidies and other benefits, consumers are still reluctant to buy EVs mainly due to the lack of charging stations. The circulation rate of an EV charging station is not as fast as a gas station. An 2019-07-11
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  Hanwha jumps into air taxi market with investment in U.S. flying vehicle developer SEOUL -- Showing a strong interest in air taxis which are seen as urban mobility in the future, Hanwha Systems, a provider of defense products and technologies in South Korea, will make a $25 million equity investment in K4 Aeronautics, a U.S. personal air vehicle developer. Hanwha Systems said Thursday that it would participate in the development of personal air vehicles (PAVs) targeting the American market. The company promised to increase its investm 2019-07-11
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  Hyundai develops new eco-friendly and fuel efficient engine technology SEOUL -- South Korea's Hyundai auto group has developed a new eco-friendly and fuel-efficient engine technology which controls the opening and closing of valves according to driving conditions. The group claims its variable valve technology is "industry-first." The group said in a statement on Wednesday that it has developed Continuously Variable Valve Duration (CVVD) technology that reduces emissions by 12 percent and is five percent m 2019-07-03
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  Hyundai Motor forges strategic partnership with Saudi Aramco SEOUL -- South Korea's Hyundai auto group forged a strategic partnership with Saudi Aramco, the world’s largest oil exporter, to cooperate in fuel-cell vehicles and carbon fiber materials. In a ceremony attended by Aramco CEO Amin H. Nasser and Hyundai Motor executive vice chairman Chung Eui-sun on Wednesday, the two companies signed a memorandum of understanding to strengthen cooperation in developing hydrogen energy and carbon fiber mater 2019-06-26
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  GM to launch Colorado pickup, Traverse SUV in S. Korea: Yonhap SEOUL -- General Motors Co. will launch the Colorado pickup truck and the Traverse SUV in South Korea by September as it strives to strengthen its recreational vehicle lineup amid falling sales. The Detroit-based carmaker plans to introduce the Colorado pickup in late August and the Traverse SUV in early September, GM Korea President and CEO Kaher Kazem said in a press conference. GM Korea is targeting to increase the percentage of SUVs in its product 2019-06-25
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  Recycling center for discarded EV batteries on Jeju Island SEOUL -- A recycling center for discarded electric vehicle batteries will begin operation in the southern resort island of Jeju this week. Jeju said in a statement Monday that the so-called Electric Vehicle Battery Industrialization Center would open on Wednesday. Construction of the center began in 2017 in a joint project involving Jeju Island, the Ministry of Trade, Industry and Energy and civic groups. If a 38.3 kWh battery is removed for processing, about 1 2019-06-24
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  Seoul citizens test 5G-based autonomous bus on urban road SEOUL -- In a street show to demonstrate self-driving technology by using a commercialized 5G mobile network for the first time in the world, an autonomous bus carrying passengers has made a seamless run on an urban road in Seoul. The 11-seater bus moved along a street some 500 meters (0.3 miles) in Sangam Digital Media City (DMC), an industrial cluster of digital media and entertainment companies located in western Seoul, carrying citizens who were selected to experie 2019-06-24
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  Kia Motors' strategic compact SUV 'Seltos' makes debut in India SEOUL -- Seltos, a new compact sport utility vehicle designed by South Korea's Kia Motors, made its debut for the first time in the world in an event in India. The strategic model targeting the millennial generation will be released in South Korea in July. Kia, a subsidiary of South Korea's Hyundai auto group, said Seltos was unveiled Thursday at a convention center in Gurugram, formerly known as Gurgaon, a financial and technology hub southwest of New Delhi. 2019-06-20
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  Hyundai Glovis makes inroads into U.S. trucking industry SEOUL -- As part of its strategy to expand an overseas business network, Hyundai Glovis, a logistics arm of South Korea's Hyundai auto group, has made inroads into the American freight transportation industry. Hyundai Glovis said Thursday that it held an opening ceremony this week for its American subsidiary called Global Expedited Transportation (GET) in Bloomington, California, for the direct transportation of vehicles, which was entrusted to a loca 2019-06-20
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  Car parts subsidiary Myoung Shin agrees to take over GM plant in Gunsan SEOUL -- Myoung Shin, a subsidiary of MS Autotech which produces car parts for South Korea's Hyundai auto group, signed a deal to take over an idle plant shut down by U.S. carmaker General Motors as part of global restructuring. In a signing ceremony on Wednesday, Myoung Shin agreed to invest some 250 billion won ($213 million) in purchasing the GM factory in the southeastern port city of Gunsan. At first, car parts makers formed a consortium to take over the plant 2019-06-19
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  Hyundai to start receiving pre-orders for new compact SUV 'VENUE' SEOUL -- Hyundai Motor will start receiving pre-orders for "VENUE", a new entry-level compact sport utility vehicle, on June 24. The SUV targets tech-savvy young people with forward-collision-avoidance assist and lane-keeping-assist features. Customers can choose between three different trims -- Smart, Modern and FLUX -- of the 1.6-liter gasoline engine SUV, Hyundai said in a statement on Wednesday. VENUE provides options on both manual and autom 2019-06-19
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  KT demonstrates 5G-based vehicle-to-everything technology on actual roads SEOUL -- KT, a telecom company involved in the establishment of a 5G network in South Korea, demonstrated its 5G-based vehicle-to-everything (V2X) technology on actual roads. Along with V2X networks and vehicle communication terminals, South Korea is building an infrastructure for connected car services such as ultra-low-latency communication. KT said Monday that vehicles installed with 5G V2X terminals conducted the verification of various scenarios such as front 2019-06-17
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  ​Hyundai makes strategic investment in American self-driving tech company SEOUL -- South Korea's Hyundai auto group made a strategic investment into Aurora Innovation, an American autonomous vehicle technology company, to put robot taxis into test operation by 2021 in smart cities by using NEXO, a hydrogen fuel cell electric vehicle. The group said in a statement on Thursday that Hyundai and Aurora would upgrade "Aurora Driver", the American tech company's self-driving system, and test launch an autonomous l 2019-06-13
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  Chinese auto group Geely agrees to set up battery joint venture with LG Chem SEOUL -- Geely, an aggressive investor in the electric vehicle market, has agreed with LG Chem, a major battery maker in South Korea, to set up a joint venture for batteries that would be used by electric vehicles produced by the Chinese auto group. LG Chem said Thursday that it has signed a joint venture deal at Geely's research center in Ningbo in China's Zhejiang province. Geely is based in Hangzhou in China's Zhejiang province, but the site for t 2019-06-13
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  Hyundai Rotem partners with American firm to develop wireless train signalling device SEOUL -- Hyundai Rotem, a leading manufacturer of rolling stock and defense products in South Korea, partnered with Wind River Systems, an American embedded and mobile software developer, to develop high-speed train signaling devices for the third level of Europe's train control system. Hyundai Rotem, a unit of South Korea's Hyundai auto group, said Tuesday that it has signed a memorandum of understanding with Wind River, which has unveiled VxWor 2019-06-11
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  Hyundai agrees to unveil prototype of fuel cell electric trams in 2020 SEOUL -- Hyundai Rotem, a train-making subsidiary of South Korea's Hyundai auto group, agreed to unveil the prototype of low-floor electric trams powered by hydrogen fuel cells next year. Hyundai Rotem said Monday that it has signed a memorandum of understanding with Hyundai Motor on the development of fuel cell electric trams with a low-floor design that improves accessibility and provides larger windows and more airspace. They would also team up to 2019-06-10