In 2023, Hyundai Motor Company and Kia Corp. racked up more operating profit than Samsung Electronics, the country’s No. 1 company by market capitalization. The two automakers also posted a double-digit operating profit margin, higher than the company Tesla that is leading a global electric car boom
Hyundai Motor and Kia Corp. sold more than 1.1 million vehicles in Europe in 2023, setting a new record for annual sales.Hyundai and Kia sold 1,106,467 units in Europe in 2023, up 4.3 percent year on year according to the European Automobile Manufacturers’ Association (ACEA) on Jan. 18. This surpass
POSCO International announced on Jan. 18 that it has secured an order for 1.03 million units of drive motor cores. These cores will be utilized in electric vehicles of the Seltos class, which Hyundai Motor and Kia Motors plan to produce locally in Europe from 2025 to 2034. The drive motor cores will
Hyundai Motor has announced to launch its entire Genesis lineup as electric vehicles from 2025. But with the number of hybrid electric vehicle registrations at a record high in Korea this year, the automaker may launch hybrid models (excluding mild hybrids) for the first time.According to the CarIsY
Hyundai Motor Group came in second after Tesla in the first three quarters of this year as the number of electric vehicle (EV) registrations in the United States surged despite concerns over slowing demand for EVs.According to a report by Automotive News Nov. 12, a U.S. automotive publication, the n
Hyundai Motor and Kia Motors have successfully settled their wage and collective bargaining agreements (CBA) without labor disputes for the second consecutive year, but the aftermath poses significant challenges. The labor unions of Hyundai and Kia have managed to secure the highest-ever wage increa
Hyundai Motor and Kia have set all-time monthly sales records in the United States for September, with both companies also achieving record-breaking cumulative sales from January to September. With this trend, it appears that they may secure the fourth-place position in sales for the first time in 3
As the won-dollar exchange rate approaches its peak of the year, the stock prices of Hyundai Motor and Kia Motors, the leading beneficiaries of the weak won, are taking a step back. Despite posting their highest-ever quarterly earnings in the second quarter, the lingering effects of an economic slow
Hyundai Motor Group, which ranked third in the world in 2022 in terms of sales volume, joined the global top three in both operating profits and operating margins.In the second quarter of this year, Hyundai Motor Group’s operating profit ranked third behind Toyota and Volkswagen Group, which are vol
Hyundai Motor and Kia are joining hands with BMW, General Motors, Honda, Mercedes-Benz, and Stellantis to establish a joint venture to build an electric vehicle charging network in the United States.On July 27, Hyundai Motor and Kia, along with GM and seven other major automakers, announced in a joi
At Nano Tech Day 2023 held on July 20 at Community House Masil in Seoul, a team from the Hyundai-Kia Basic Materials Research Center unwrapped a transparent solar cell that can lower reliance on electric vehicle batteries and eventually enable battery-free driving.The transparent solar cell was one
Hyundai and Kia set a record for the highest number of vehicles sold in the US in the first half of this year, selling 820,000 units. Despite the implementation of new electric vehicle regulations in the Inflation Reduction Act in the US that benefits domestically produced electric vehicles, sales o
The world's first four-wheeled robot that can freely climb stairs, a drone managing Lotte World Tower, the tallest building in Korea, and an AI-based music service platform are all products of startups that Hyundai Motor Group has invested in.The Hyundai Motor Group announced on June 15 that it
Hyundai Motor Group will become the world's No. 1 automaker in 2026 with sales standing at 9.2 million vehicles, according to a new forecast. Hyundai Motor Group sold 6.85 million vehicles globally in 2022, ranking third in sales behind Japan's Toyota and Germany's Volkswagen.In a report
Hyundai Motor Group (Hyundai Motor and Kia Corp.) ranked third overall in the U.S. electric vehicle market in the first quarter of this year. Its competitors are rapidly expanding their share with the introduction of the U.S. Inflation Reduction Act (IRA).Hyundai Motor and Kia sold a combined 14,703
Local media outlets in Russia reported that Hyundai Motor Co. and Kia Corp. continued to produce vehicles in Russia. In response, Hyundai Motor officially denied the reports.The Russian state-run news agency TASS reported on April 28 (local time) that Russian Minister of Trade and Industry Denis Val
A former Hyundai Motor employee who reported safety issues with vehicles from Hyundai Motor Co. and Kia Corp. to the U.S. National Highway Traffic Safety Administration (NHTSA) will receive an award of US$24.3 million.NHTSA announced on Nov. 9 (U.S. local time) that it has paid the award to the whis
Japan's Toray Group is concentrating resources on the research and development of lithium-ion battery separators. It is implementing a roadmap to develop separators for next-generation lithium metal batteries. Competition in the separator market is heating up as LG Chem has recently entered the
The Korea Automobile Manufacturers Association announced on March 18 that Daimler, BMW and GM reduced their employment by 20,000, 16,000 and 14,000 persons last year, respectively.This was to make more investments through labor cost reduction with electric vehicles becoming the mainstream of the ind
Hyundai Motor Co. and Kia Corp. posted nearly 2 trillion won in operating losses in China in 2020. It was the worst business performance since the two Korean carmakers entered China in 2002.Hyundai Motor announced on March 10 that Beijing Hyundai, its subsidiary in China, logged 6.87 trillion won in