WASHINGTON, March 24 (Korea Bizwire) — South Korean conglomerate Hyundai Motor Group said Monday it will invest US$21 billion in the United States through 2028, as U.S. President Donald Trump is ramping up tariff pressure to boost domestic manufacturing. The group’s Executive Chair Euisun Chung, alongside Trump and Louisiana Gov. Jeff Landry, made the announcement [...]
SEOUL, March 24 (Korea Bizwire) — South Korea’s largest automotive giant Hyundai Motor Group is set to reach a major milestone of 30 million cumulative vehicle sales in the United States this year, continuing its steady growth in the key overseas market, the group said Monday. Since their entry into the U.S. market in 1986, [...]
SEOUL, March 21 (Korea Bizwire) — After facing a surge in thefts that tarnished their reputation in the American market, Hyundai and Kia have seen a dramatic turnaround, with vehicle theft rates dropping significantly following the implementation of enhanced anti-theft measures. According to data from the National Insurance Crime Bureau (NICB), reported by Reuters on [...]
SEOUL, March 21 (Korea Bizwire) — Hyundai Motor Group is accelerating efforts to expand its production footprint in the United States, amid U.S. President Donald Trump’s continued call for foreign companies to manufacture in the country to do business there, according to industry observers Friday. According to the industry sources, the group plans to hold [...]
SEOUL, Feb. 26 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it has joined hands with Hyundai Motor Co. to integrate its fifth-generation (5G) private network solutions with the carmaker’s advanced vehicle manufacturing facilities. The two companies recently completed the end-to-end Reduced Capability (RedCap) trial over a private 5G network and will showcase the technology [...]
POHANG, South Korea, Feb. 13 (Korea Bizwire) — The mood outside Hyundai Steel’s Pohang Plant 2 is one of unease. Employees show up for work, but operations remain largely stalled. “We come in, but there’s no production. It’s frustrating,” a worker in his 40s, employed by Hyundai IMC, a Hyundai Steel subsidiary, said on Monday. [...]
SEOUL, Feb. 10 (Korea Bizwire) – Hyundai Motor Co. said Monday it plans to release an off-road themed variant of the Casper Electric, the company’s entry-level electric vehicle (EV), in South Korea this week. The Casper Electric Cross retains the core design identity of the original model, known as Inster Electric overseas, introduced last year, [...]
SEOUL, Feb. 7 (Korea Bizwire) – Hyundai Motor Co. will temporarily suspend production of its Ioniq 5 and Kona Electric models, as weakening electric vehicle (EV) demand continues to impact sales, according to industry sources Friday. According to the sources, Hyundai Motor will halt operations of Line 12 at its Ulsan Plant 1 in South [...]
LOS ANGELES, Feb. 5 (Korea Bizwire) — Hyundai and Kia, along with other global automakers, have launched operations for their joint electric vehicle (EV) charging venture, Ionna, marking a significant expansion of EV infrastructure across the United States. Hyundai announced on February 4 that Ionna, established last year to develop a robust North American charging network, [...]
SEOUL, Feb. 5 (Korea Bizwire) - Hyundai Motor Group is expected to be among the least affected global automakers from the United States’ plan to levy a 25 percent tariff on goods from Mexico, according to market watchers Wednesday. Major automakers with production bases in Mexico include General Motors (GM), Ford, Toyota, Nissan, Volkswagen, Honda [...]