Hankook Tire has been supplying tires for Porsche Taycan electric sedan

SEOUL, July 9 (Yonhap) — Hankook Tire & Technology Co., the world’s seventh-largest tiremaker by sales, said Thursday it has been supplying tires for Porsche’s Taycan 4S model. Hankook Tire has supplied the high-performance Ventus S1 evo 3 SUV tires for Porsche’s quickest electric sedan in the form of original equipment (OE) tires since the… Continue reading Hankook Tire has been supplying tires for Porsche Taycan electric sedan

Kia’s June sales fall 12 pct on weak sales overseas

SEOUL, July 1 (Yonhap) — Kia Motors Corp. said Wednesday its sales fell 12 percent last month from a year earlier as the new coronavirus continued to affect the automobile industry. Kia sold 207,406 vehicles in June, down from 235,847 units a year ago, due to sharply reduced overseas demand amid the spread of the… Continue reading Kia’s June sales fall 12 pct on weak sales overseas

GM Korea’s June sales dip 29 pct amid pandemic

SEOUL, July 1 (Yonhap) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday its sales plunged 29 percent last month from a year earlier amid the new coronavirus pandemic. GM Korea sold 25,983 vehicles in June, down from 36,451 units the previous year, the company said in a statement. Domestic… Continue reading GM Korea’s June sales dip 29 pct amid pandemic

SsangYong’s June sales rise 0.2 pct on domestic demand

SEOUL, July 1 (Yonhap) — SsangYong Motor Co. said Wednesday its sales inched up 0.2 percent last month from a year earlier as robust domestic sales offset weak exports amid the new coronavirus outbreak. SsangYong Motor sold 10,181 vehicles in June, slightly up from 10,159 units a year ago on increased sales of its sport… Continue reading SsangYong’s June sales rise 0.2 pct on domestic demand

GM committed to making EVs reality in S. Korea

By Choi Kyong-ae SEOUL, June 21 (Yonhap) — General Motors Co. is committed to expanding its position in South Korea by introducing more electric vehicles amid growing appetite for zero-emission cars thanks to improving charging infrastructure and state subsidies, the company has said. In a virtual media briefing held Wednesday, Jesse Ortega, architectural chief engineer… Continue reading GM committed to making EVs reality in S. Korea

(LEAD) SsangYong partners with Chinese firm for exports

(ATTN: ADDS ongoing effort to find new investor in last 5 paras) SEOUL, June 19 (Yonhap) — SsangYong Motor Co. said Friday it has signed an initial agreement with Chinese carmaker Songuo Motors Co. to export its Tivoli sport utility vehicle. Under the basic agreement, SsangYong Motor will deliver the Tivoli SUV in the form… Continue reading (LEAD) SsangYong partners with Chinese firm for exports

Hyundai Motor, LG to expand EV biz partnership

SEOUL, June 19 (Yonhap) — The heads of Hyundai Motor Group and LG Group, South Korea’s two major conglomerates, will meet next week to discuss expanded cooperation in the electric vehicle business, a person familiar with the matter said Friday. Hyundai Motor Group Executive Vice Chairman Chung Euisun is set to discuss an expanded EV… Continue reading Hyundai Motor, LG to expand EV biz partnership

Kia Motors to expand engine production line in Slovakia

SEOUL, June 12 (Yonhap) — Kia Motors Corp., South Korea’s second-largest automaker, said on Friday that it will invest 70 million euros (US$79 million) to expand its engine production facility in Slovakia. The affiliate of Hyundai Motor Group said it plans to complete the expansion of the engine production line at its plant in Zilina,… Continue reading Kia Motors to expand engine production line in Slovakia

5 companies to recall nearly 120,000 vehicles

SEOUL, June 4 (Yonhap) — Hyundai Motor Co., Mercedes-Benz and three other companies will voluntarily recall nearly 120,000 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers operating in South Korea and vehicle importers due to problems with the components of vehicles they… Continue reading 5 companies to recall nearly 120,000 vehicles

Hyundai’s debt offerings draw strong response

SEOUL, April 28 (Yonhap) — Hyundai Motor Co.’s planned 300 billion won (US$240 million) worth of corporate bond sales have received a strong market response despite the coronavirus impact on the automobile sector, financial sources said Tuesday. Hyundai will sell the debt with a maturity period of three to seven years on May 8, to… Continue reading Hyundai’s debt offerings draw strong response