Hyundai Motor Company is responding to growing demand for hybrid electric vehicles (HEVs) by producing HEVs at its U.S. electric vehicle factory, Hyundai Motor Group Metaplant America (HMGMA), which is scheduled to go live in the fourth quarter of 2024.“We will begin to run HMGMA in October,” said L
As POSCO Holdings announced its first quarterly earnings under new Chairman Jang In-hwa, control of business development speeds by business division has become a hot topic.The company has set an investment budget of about 10.8 trillion won for this year, but the amount is likely to be reduced. The p
LG Energy Solution recorded an operating loss in the first quarter of this year when excluding the advanced manufacturing production credit (AMPC) from the U.S. Inflation Reduction Act (IRA).The company announced on April 25 that its first-quarter provisional sales amounted to 6.13 trillion won (US$
Hyundai Motor achieved an operating profit of over 3.5 trillion won in the first quarter of this year. Its sales reached a record high in the first quarter, surpassing the 40 trillion won mark.Hyundai Motor announced on April 25 that its consolidated sales for the first quarter of this year amounted
After receiving a lackluster performance report for the first quarter of this year, POSCO Holdings has signaled changes in its core businesses such as steel and secondary battery materials.POSCO Holdings announced on April 25 that its consolidated operating profit for the first quarter of this year
Hanwha Aerospace has signed an additional executive contract with Polish Armaments Agency for supplying 72 more Chunmoo Multiple Rocket Launcher Systems (MRLS), preceded by the framework contract and first executive contract, both signed in 2022.Worth around 2.27 trillion KRW (1.6 B USD), the contra
LG Energy Solution has declared war against technology theft, believing that patent infringement by overseas battery-related manufacturers in regions like China and Europe is severe. The company’s own investigation revealed 580 cases of confirmed patent infringement. They are ready to pursue legal a
Seoul Mayor Oh Se-hoon held a press briefing at Seoul City Hall on April 24 to announce a comprehensive plan to develop the Han River. The plan is a sequel to the Great Han River Project launched in March last year with the goal of creating a waterfront city in Seoul.Accordingly, the city aims to cr
Hyundai Mobis, a global leading company in the electric vehicle supplier, announced the construction of a new plant in Spain, the heart of Europe's automotive market. Mobis currently operates battery system production facilities in Korea, China, and the Czech Republic and is building several more in
On April 23, Samsung SDI announced that it will showcase future battery technology for electric vehicles to global scholars at the “37th Electric Vehicle Symposium & Exhibition (EVS37).”EVS is the largest electric vehicle symposium and exhibition worldwide, starting in 1969. It is an event where glo
At one point, 8 out of 10 Chinese smartphones used Organic Light Emitting Diode (OLED) panels from Korean companies. Now, that number has plummeted to less than 2 out of 10, indicating a dramatic drop in the market share of Korean companies as China encourages the use of domestically produced compon
It has emerged that the domestic battery industry, which received trillions of won in tax deductions in the United States last year, might need to pay nearly 200 billion won in additional taxes by 2026 due to the implementation of a global minimum tax. Battery companies are currently investing in th
BMW Group Korea will now carry out all electric vehicle and software development, as well as certifications in Korea.“Korea is BMW’s fifth-largest market globally, and this year we became the No. 1 brand in premium cars, including electric vehicles,” said Jochen Goller, a member of the Board of Mana
Hyundai Motor Group has signed a power purchase agreement for 147 megawatts (MW) of solar power to run an electric vehicle factory under construction in the U.S. state of Georgia with renewable energy.Hyundai Motor Group announced on April 22 that it recently signed a 15-year long-term power purchas
Global leading tire company Hankook Tire & Technology (Hankook Tire)’s iON evo SUV, a high-performance tire specially designed for electric vehicles, has received the highest rating, “Exemplary” in a tire test conducted by the German automotive magazine Auto Bild. Through this, a company once again
The Korea Exchange announced that it will commence trading of KOSDAQ Global Index futures on April 22. The KOSDAQ Global Index consists of companies selected for the “KOSDAQ Global Segment” based on certain criteria among KOSDAQ-listed stocks.The launch of KOSDAQ Global Index futures was initiated t
The 21st Huawei Analyst Summit (HAS) kicked off in Shenzhen. Themed "Thrive with Intelligence", the event brought together more than 500 analysts, think tank researchers, and other guests from around the world to explore what's coming next in the age of intelligence, where the ICT industry is headin
Hanon Systems, a leading global automotive thermal management supplier for electrified mobility, has been named a GM Supplier of the Year in General Motors’ 32nd annual Supplier of the Year awards in Miami, Florida.A global, cross-functional team at GM recognized 86 of its best suppliers for perform
Hanwha Systems (CEO: Sung-Chul Eoh) released images of various locations on Earth taken by its small SAR satellite on April 18th, successfully launched on December 4th, 2023.The images taken by Hanwha Systems' small SAR satellite were transmitted from an altitude of 650 kilometers above the Earth. T
After years of double-digit growth, the global electric vehicle market is entering a chasm, considered to be a slowdown in demand just before mass adoption. Global automakers that have been aggressively investing to expand their electric vehicle lineups are scrambling for survival by making use of a