The second factory of Ultium Cells, a joint venture between LG Energy Solution and General Motors (GM) for electric vehicle batteries, has commenced commercial operations. LG Energy Solution has decided to continue proactive investments, particularly in North America, as part of its strategy to soli
Kia announced on March 10 that its flagship electric vehicle, the EV9, has been named as the 2024 U.K. Car of the Year.The U.K. Car of the Year is selected each year by a 30-member judging panel of locally based automotive journalists who vote on vehicles launched in the last 12 months. Participatin
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced that a voluntary recall will start for about 40,000 vehicles from Hyundai Motor Company, Mercedes-Benz Korea, BMW Korea, Honda Korea, and Man Truck Bus Korea for manufacturing defects.According to MOLIT on Feb. 8, 18,664 Hyundai K
LG Energy Solution is actively expanding its business in North America. Following its success in electric vehicle batteries, the company is now accelerating its Energy Storage Systems (ESS) business. The growth of ESS is closely tied to the increasing generation of renewable energy.According to the
Considering the key role of electronics in future cars, alliances between electronics and automotive companies, dubbed E-Vehicle Alliances, are being formed worldwide.Sony Honda Mobility, the electric vehicle joint venture of Sony and Honda, held a press conference in Las Vegas on Jan. 8 (local time
Hyundai Motor Group has achieved its highest-ever sales record in the United States, selling over 1.6 million vehicles last year. This milestone has propelled Hyundai Motor Group, the world’s third-largest automaker, into the top 5 in the U.S., surpassing Japan’s Honda. Last year, the group also ove
Hyundai, Honda, Volkswagen and other foreign automakers in the United States have been accused of sabotaging the establishment of labor unions.Workers at Honda’s Indiana plant, Hyundai’s Alabama plant and Volkswagen’s Tennessee plant have filed complaints with the National Labor Relations Board (NLR
In November, Lexus sold 1183 units, a 42.4 percent surge from the same month of 2022 in Korea.Mercedes-Benz topped import sales last month. Volvo and Lexus were also strong. By vehicle type, sales of internal combustion engine cars declined, while sales of eco-friendly cars such as hybrids and elect
The Hyundai Motor Group Innovation Center in Singapore (HMGICS) is an urban micro-factory. Urban micro-factories are characterized by a multi-vehicle, low-volume production system rather than mass production of a traditional automobile factory. Although Singapore has a small automobile market, it is
South Korean conglomerates, including Samsung and LG, are set to unveil new home appliances, mobile technologies, and mobility (automotive) solutions at CES 2024, the world’s largest electronics trade show held in the United States, embarking on extensive promotional activities.According to industry
The growth of electric vehicles (EVs) changing the paradigm of the global automobile market has come to an abrupt halt. As a result, carmakers are showing mixed moves.General Motors (GM), Ford and Volkswagen, as well as the world’s No. 1 EV maker Tesla, have postponed or canceled their investment pl
Japan’s Mitsubishi Motors has decided to exit the Chinese market as local Chinese car brands dominate the scene, tarnishing the reputation of automobile powerhouses like Germany and Japan.According to a report by Japan’s NHK Broadcasting on Oct. 19, sources have indicated that Mitsubishi Motors has
Hyundai Motor and Toyota, two major players that have been struggling in the world’s largest automobile market, China, are taking different paths. Hyundai Motor has recently considered outsourcing local car brand production as it played its “sell Chinese factories” card. On the other hand, Toyota ha
Following LG Energy Solution’s recent massive electric vehicle battery supply contract with Toyota, the world’s top-selling automaker, LG Chem has also sealed a deal with Toyota to supply cathode materials, an essential component for secondary batteries.On Oct. 6, LG Chem announced that it had enter
Over the past five years, the automotive company that received the highest amount of fines and penalties in South Korea was Mercedes-Benz Korea, the leading player in the imported car industry. The company had a cumulative amount of approximately 28 billion won.According to data obtained by Park San
LG Energy Solution has secured a long-term agreement with Toyota, the world’s largest automaker, ensuring that it will now supply electric vehicle (EV) batteries to all of the top five global automakers, namely Toyota, Volkswagen, Renault-Nissan, Hyundai, and GM.On Oct. 5, LG Energy Solution announc
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
Concerns are growing among domestic businesses as former U.S. President Donald Trump has pledged to nullify President Joe Biden’s electric vehicle transition policy if elected in the 2024 presidential election.Former U.S. President Donald Trump recently criticized President Biden’s electric vehicle
Hyundai Motor Company is leading the electrification trend in the automotive industry in Indonesia, the world’s fourth-most-populous country and the world’s top nickel producer.According to the Association of Indonesia Automotive Industries (GAIKINDO) on Friday, Hyundai sold 3,913 electric vehicles