[Business Diplomacy] As Trump targets EVs, Hyundai-Kia shifts gears to hybrids

“I will end the electric vehicle mandate on day one.” With Donald Trump gaining traction as the Republican presidential candidate, this declaration at the Republican National Convention in Milwaukee on July 18 has sent ripples of concern through the South Korean automotive and battery industries. The potential implications of Trump’s return to the White House, coupled with his protectionist and anti-EV stance, have companies like Hyundai-Kia and major Korean battery makers brac

July 30, 2024

Geely’s top brass visit SK to speed up EV partnership

SK Group and SK On are reportedly fast-tracking their collaboration with China’s Zhejiang Geely Holding Group, a leading multinational automotive conglomerate. Industry sources reported that executives from Geely Auto responsible for technology, research and development, and international cooperation, visited SK Building headquarters in Seoul on Monday. The delegation, which included the CEO of Zeekr, Geely Auto’s premium EV brand, met SK Group Executive Vice Chairman Chey Jae-won an

July 30, 2024

Hyundai Motor accelerates air mobility business in Indonesia

Hyundai Motor and Kia demonstrated their advanced air mobility in Indonesia as they demonstrated a flying aircraft and hailing procedure at the Samarinda Airport in East Kalimantan on Monday. With officials from Indonesia’s Ministry of Transportation and Nusantara Capital City Authority in attendance for the presentation, the automakers explained how ride-pooling application Shucle and specialized aircraft can be developed to fit the circumstances of the local customers and advanced furthe

July 29, 2024

Renault Grand Koleos caters to fuel-efficient family car market

Renault Korea’s latest mid-size hybrid SUV, the Renault Grand Koleos, is showing a promising start following its debut at the 2024 Busan Mobility Show last month, reporting over 10,000 contracts signed within the first month. According to Renault Korea, more than half of Grand Koleos buyers are in their 40s and 50s, a demographic seeking fuel-efficient family cars. This trend reflects a broader market shift in the Korean market, where hybrid vehicles have grown significantly. According to

July 29, 2024

[Test Drive] Kia EV3 takes regenerative braking to next level

Kia is going all-out to turn around the slowing growth of electric vehicles with the launch of its latest all-electric vehicle EV3 as the Korean automaker has developed an affordable, all-around EV. The Korea Herald got to check out the Kia EV3 long-range model with 17-inch wheels for a test drive last week. The 201-kilometer course included city drive, highways and winding roads between Seoul and the eastern city of Sokcho in Gangwon Province. Categorized as a subcompact crossover sports utilit

July 28, 2024

Kia posts record operating profit in Q2

Kia logged another record profit in the second quarter on Friday, driven by an enhanced product mix, higher average selling price and favorable exchange rates. During the April-June period, Kia achieved two new records -- 3.64 trillion won ($2.63 billion) in operating profit and a 13.2 percent operating profit margin -- in second-quarter earnings, continuing to break records for two straight quarters. The automaker’s quarterly operating profit increased by 7.1 percent in comparison to the

July 26, 2024

Hybrid sales drive up Hyundai Motor's Q2 earnings

Hyundai Motor Company on Thursday reported a record-breaking quarterly revenue for the second quarter of this year, marking a 6.6 percent increase from last year to reach 45.02 trillion won ($32.6 billion). The company attributed the results to an improved sales mix driven by the rising popularity of hybrid vehicles, which accounted for a double-digit proportion of sales for the first time, along with favorable currency exchange rates. In the same April-June period, Hyundai's operating prof

July 25, 2024

[Herald Interview] 'Lamborghinis will always have steering wheel'

Automakers around the world are racing to develop advanced technology in autonomous driving and battery-powered vehicles. But for Italian luxury supercar brand Lamborghini, those are not the main concerns. “Lamborghini will always have a steering wheel in the cars,” said Stephan Winkelmann, CEO of Automobili Lamborghini in a video interview with a group of Korean reporters after the opening ceremony of Lamborghini Bundang in Gyeonggi Province. “We might have assisted driving

July 25, 2024

Genesis to sponsor New York's Met through new art initiatives

Hyundai Motor Group’s premium auto brand Genesis on Wednesday announced a five-year partnership with the Metropolitan Museum of Art in New York to provide various inspirational experiences for global audiences visiting the museum. The partnership marks the beginning of Genesis Art Initiatives, established to celebrate art as an authentic experience to discover truly meaningful and valuable aspects of life. Genesis will support the Met’s annual contemporary art commission series for t

July 24, 2024

Hyundai to bring electric buses to Japan's UNESCO-designated island

Hyundai Motor Company is expanding its presence in Japan’s commercial vehicle market by supplying electric buses to the Iwasaki Group for use on Yakushima Island, a UNESCO World Natural Heritage Site. Last Thursday, Hyundai signed a letter of intent with Iwasaki Group, a transportation and tourism service provider in Kagoshima Prefecture, Japan, at the Imperial Hotel in Tokyo. The agreement sets the stage for Hyundai to supply its “Elec City Town” zero-emission electric buses t

July 23, 2024

[Photo News] Hyundai EV charging alliance in Indonesia

Hyundai Motor Group made a new partnership with six Indonesian private charging operators last Friday at the Gaikindo Indonesia International Auto Show 2024. This alliance makes charging much easier for local Hyundai EV owners. With the “myHyundai” app, Hyundai drivers can now access charging stations from any alliance member without needing separate memberships or payment methods. This is the first roaming system of its kind in Indonesia. The alliance covers 696 charging stations at

July 23, 2024

Hanwha-HD Hyundai rivalry shifts to US warship maintenance

The competition between Korean conglomerates Hanwha and HD Hyundai to expand their work with the US Navy has heated up as both secured key certification for maintenance and repair projects this month. Hanwha Ocean, which was known as Daewoo Shipbuilding and Marine Engineering before Hanwha Group’s acquisition last year, said Monday that it had signed a master ship repair agreement (MSRA) with the US Naval Supply Systems Command to secure the right to bid for maintenance, repair and operati

July 22, 2024

Ultium Cells halts construction of Michigan plant amid market slump

Ultium Cells, the joint electric vehicle battery venture between LG Energy Solution and General Motors, has suspended the construction of its third electric vehicle battery plant in the US. This decision comes in response to rising economic pressures, including high interest rates and inflation, as well as a slowdown in the demand for EVs. The $2.6 billion facility in Lansing, Michigan, broke ground in 2022 and was scheduled for completion by the end of this year. Once operational, the plant was

July 22, 2024

[Exclusive] BlueOval SK’s Kentucky plant to start production in 1st half of 2025: official

BlueOval SK, a joint venture between Korean battery maker SK On and US automaker Ford, will begin mass production of batteries at its first plant in Glendale, Kentucky, in the first half of next year, a company official said Wednesday. “We are very excited about Kentucky 1 going online, the first of our three plants,” said Keli McAlister, external affairs director at BlueOval SK in an interview with The Korea Herald in Seoul. “There’s a lot of moving parts in a project th

July 18, 2024

Volvo XC40 triumphs as best-selling premium compact SUV

The Volvo XC40 has emerged as Korea’s best-selling premium compact sport utility vehicle in the first half of this year. The XC40 sold 1,089 units between January and June, with its B4 Ultimate all-wheel drive trim leading in single-trim sales, according to data from the Korea Automobile Importers & Distributors Association. In second place for single-trim sales was the MINI Cooper Countryman with 945 units, followed by the BMW X1 2.0 with 727 units. The same XC40 model secured second

July 18, 2024

Kia EV3 boasts array of new technologies for mass-market EVs

Kia on Tuesday presented the most cutting-edge technologies applied to craft the automaker’s latest all-electric vehicle EV3 to auto journalists in Seoul, showcasing several new technologies developed to make the car a leader in popularizing EVs amid slowing EV growth. The EV3 has been equipped with the i-Pedal 3.0, which offers different levels of regenerative braking to allow more flexible ways to slow down the vehicle. Unlike the automaker’s previous i-Pedal technology which only

July 17, 2024

Renault Korea begins mass production of new Grand Koleos

Renault Korea has begun the mass production of its new Grand Koleos at its Busan plant, the company said Tuesday. The company held a ceremony to roll out its new Grand Koleos at the Busan plant on the previous day. The automaker plans to begin delivery of the new sports utility vehicle to customers in autumn. Renault Korea debuted the new Grand Koleos at the 2024 Busan International Mobility Show at Bexco on June 27, marking the first new car from the Renault subsidiary in four years. According

July 16, 2024

[Photo News] Winner of Genesis Scottish Open

Robert MacIntyre, a Scottish professional golfer, has won the 2024 Genesis Scottish Open that took place at the Renaissance Club in North Berwick, Scotland, from Thursday to Sunday. MacIntyre was given the Electrified GV70, an all-electric sports utility vehicle along with the first prize money of $1.58 million. From left in this photo are Song Min-kyu, global head of Genesis, Robert MacIntyre and Chang Jae-hoon, CEO of Hyundai Motor Company. (Hyundai Motor Group)

July 15, 2024

[KH Explains] Are pedal cams the answer to Korea’s sudden acceleration disputes?

In the wake of several tragic car accidents across Korea, pedal cameras are being proposed as a new tool to address the contentious issue of sudden unintended acceleration, or SUA. These cameras, which capture drivers’ foot movements, are being touted as a means to provide clear evidence and settle disputes over the true cause of accidents. The conversation is divided: Should car manufacturers include pedal cameras as standard equipment, or should individual drivers be responsible for inst

July 14, 2024

LG Energy Solution’s AI model to expedite battery cell design

LG Energy Solution said Sunday that it has developed an artificial intelligence solution to substantially shorten the battery cell design period from two weeks to just one day. This significant leap in the initial stage of battery production leverages generative AI techniques to output battery cell designs from clients' specific requirement input. Harnessing the proprietary battery design algorithm, which uses data from approximately 100,000 design cases, the AI model ensures optimal cell

July 14, 2024