Hyundai Motor to provide Genesis sedans for S. Korea-Africa summit
Hyundai Motor Group said on Friday it will provide the luxury Genesis brand's G90 and G80 sedans during the South Korea-Africa Summit due in Seoul in June.
Hyundai Motor Group said on Friday it will provide the luxury Genesis brand's G90 and G80 sedans during the South Korea-Africa Summit due in Seoul in June.
The South Korean government said on Wednesday that it has imposed fines totalling 10.3 billion won (USD 7.6 million) on 10 foreign and domestic automakers for selling cars with inadequate safety standards.
South Korea's biggest carmakers Hyundai Motor and Kia have sold more than an accumulated 5 million eco-friendly vehicles in the global market over the past 15 years, company officials said on Sunday.
By leveraging the advanced technologies and assets of each party, the two companies expect to accelerate the transition to a sustainable future.
South Korea's top automaker Hyundai Motor said on Saturday that it recorded a 6 percent increase in its sales in the United States last month.
Total sales in February were down MoM at 60,501 units compared to 67,615 units in January 2023.
They will establish the ‘Hyundai Motor Group-KAIST On-Chip LiDAR Joint Research Lab’ at KAIST in Daejeon to develop LiDAR sensors for advanced autonomous vehicles. The lab aims to develop essential high-performance, compact on-chip sensors and new signal detection technology. On-chip sensors can reduce the size of LiDAR system compared to conventional methods and secure price competitiveness through mass production using semiconductor fabrication processes
The participation of the South Korean company is notable because a similarly named Hyundai Global Motors had got sops for setting up a 20 gigawatt hour (GWh) capacity in the earlier PLI auction round for ACC batteries, held in January 2022. It was eventually concluded that this was a case of impersonation and that Hyundai Global Motors had used fake documentation while bidding.
South Korea's top automaker Hyundai Motor is widely anticipated to reach accumulated shipments of 100 million units this year since its first sales in 1968, the company said on Monday.
Banker pitch at HQ last week; raise of USD 3.3-5.6 billion may value HMIL up to USD 28 billion. At USD 28 billion, HMIL will be valued at 48 times FY23 earnings, while at the lower end of the band at USD 22 billion, it would be 38.4 times. Maruti Suzuki trades at 40 times FY23 earnings.
South Korea's Hyundai Motor and its smaller affiliate Kia on Sunday said their combined electric vehicle sales exceeded 1.5 million units as of December, 12 years after Hyundai debuted its first EV model.