The South Korean government announced on Jan. 21 that electric vehicles priced at more than 90 million won are no longer eligible for its subsidy and the 100 percent subsidy will be limited to those priced at less than 60 million won.From 2013 to last year, the government provided the electric vehic
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. Battery business to benefit from all-out EV push by US automakersTesla, seeing explosive sales of EVs produced at its Gigafactory in China, has doubled its sale
The Ministry of Land, Infrastructure and Transport told Mercedes-Benz late last month to exchange an S350d 4Matic manufactured in 2019 for a new one. This is the first exchange order since the implementation of South Korea’s lemon law.Last year, the ISG system of the car in question repeatedly malfu
Apple’s reported proposal for cooperation with Hyundai Motor Group to develop the so-called "Apple Car," a self-driving electric vehicle (EV), is drawing keen attention from automobile industry watchers.Hyundai Motor is an attractive partner for Apple. It is set to launch new electric vehicle models
Japanese automakers’ market share in South Korea dropped to 1.1 percent last year. This is because of their declining attractiveness as well as the boycott of Japanese products that started in 2019.According to the Korea Automobile Importers & Distributors Association, Lexus, Toyota, Honda, Nissan a
Korean and foreign automakers are set to showcase their new vehicle technologies at CES 2021, the world's largest electronics and information technology exhibition which will be held online from Jan. 11-14.The most interesting point in the automobile sector at CES 2021 is a keynote speech by GM
Imported car sales in Korea totaled 274,859 units in 2020, exceeding the previous record high of 260,705 units set in 2018, the Korea Automobile Importers Association (KAIDA) said on Jan. 6.The number of newly registered imported cars in 2020 rose 12.3 percent on year. Imported cars sold 31,419 unit
ZKW, a premium headlamp maker in Austria under the control of LG Electronics, has recently attracted an investment of 150 million euros from the European Investment Bank (EIB).The company raised the funds to finance R&D activities and expand its production lines in Slovakia.In 2019, ZKW registered a
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. Mini-LED TVs to become mainstream in 2021Samsung Electronics is gearing up to launch aggressive efforts to expand the foothold of mini-LED TVs vs. OLED TVs in t
While imported electric vehicle sales have quadrupled in Korea in 2020 from 2019, new electric vehicle models from Korean and foreign car brands are expected to flood the Korean market in 2021.According to statistics from the Korea Automobile Importers and Distributors Association and the CarIsYou D
Despite the COVID-19 pandemic, sales of imported cars jumped 13.4 percent from a year ago in the January-November period of 2020.If this trend holds, imported car sales are expected to hit a record high in 2020. The best-selling imported car brand of 2020 was Mercedes-Benz, and the share of German c
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 4Q20 OP to grow 26% QoQ to KRW337bnSamsung SDI is expected to post operating profit of KRW337bn (+26.0% QoQ, +1,564.4% YoY) on sales of KRW3.61tr (+16.9% QoQ, +
Served as former Senior VP at Valeo, Volvo, Bosch, Continental, and etc- First non-Korean C-Level executive with 30+ years of experience, expecting growth of global sales Hyundai Mobis announced on Nov. 15 that its has hired Axel J. Maschka as executive vice president and head of the Global Sales Di
Despite the COVID-19 pandemic, sales of imported cars continue to rise, fueled by new model launch effects.The Korea Automobile Importers and Distributors Association (KAIDA) announced on Nov. 4 that 24,257 imported cars were newly registered in October, up 9.8 percent from 22,101 in the same month
Samsung Electronics' IoT platform SmartThings will be applied to Mercedes-Benz cars. Samsung Electronics acquired SmartThings, a U.S. venture company specializing in IoT platforms, for about US$200 million in 2014 and is currently operating an app with the same name as that of the company. When
The driving assistance system of Hyundai Motor Co. and Kia Motors matched that of Mercedes-Benz in performance and eclipsed that of BMW, a survey has found. In the same survey, GM topped the list, followed by Tesla.U.S. consumer media outlet Consumer Reports tested 17 automakers' driving assista
Sales of luxurious imported cars costing over 100 million won have surged despite the COVID-19 crisis.A total of 30,929 such cars were sold in Korea during the first nine months of 2020, up 64 percent compared with 2019, said the Korea Automobile Manufacturers Association and the Korea Automobile Im
A total of 13,261 imported electric vehicles (EVs) were sold in Korea in the first nine months of 2020, said the Korea Automobile Importers and Distributors Association on Oct. 18. The figure is 8.5 times more than the 1,552 units sold during the same period of 2019. In September alone, 2,237 units
The Korea Automobile Importers & Distributors Association (KAIDA) announced on Oct. 7 that 5,958 Mercedes-Benz cars were newly registered in South Korea last month, followed by BMW (5,275), Audi (2,528), Mini (1,108) and Volkswagen (872). For the first nine months of this year, Mercedes-Benz sold 53
Plug-in hybrid electric vehicles (PHEVs) have become the mainstream in the imported car market of Korea.The number of newly registered imported PHEVs reached 3,900 in the January-August period, up 41 percent from one year earlier, said the Korea Automobile Importers and Distributors Association (KAI