Due to intensified endeavors by Chinese battery manufacturers in Europe and North America, the market share of Korea’s big three battery companies has dropped below 25%.Market research firm SNE Research reported on Sept. 5 that from January to July this year, the market share of LG Energy Solution,
Mercedes-Benz has overtaken BMW as the No. 1 brand in monthly imported car sales after three months in the Korean imported car market. Audi remained in third place for the second consecutive month.The Korea Automobile Importers and Distributors Association (KAIDA) said on Sept. 5 that 23,350 importe
At IAA Mobility 2023 Hyundai Mobis (KRX: 012330) has announced its European market expansion strategy ‘MOBIS MOBILITY MOVE 2.0’ which showcased its commitment to electric mobility. Hyundai Mobis is confident it can rapidly expand in Europe where electric vehicle technology is already making an impac
Sales of Hyundai and Kia’s electric vehicles (EVs) in South Korea are steadily declining. This drop is attributed to decreasing subsidies, rising charging costs, and intensified competition as imported car brands aggressively penetrate the domestic EV market.According to Hyundai Motor Group on Sept.
Hyundai Motor Group will transfer all of its hydrogen business capabilities to one subsidiary. Hyundai Mobis’ hydrogen fuel cell production management division will be transferred to Hyundai Motor to complete the Korean automotive group’s value chain of hydrogen mobility production and boost its eff
Forecasts indicate that China’s OLED shipments for smartphones will surpass South Korea’s by 2025.According to the “3rd Quarter OLED Market Track” report published by market research firm UBI Research on Aug. 28, the current market share of smartphone OLED shipments for South Korea and China stands
Amid the threat of a full-blown strike for the first time in five years, Hyundai Motor Company is facing pressure from labor unions even at its U.S. facilities where no labor union has been established. In South Korea, the Hyundai labor union has been ramping up pressure after securing the right to
On Aug. 27, Nikkei, referencing data from MarkLines, a global auto market research firm, and various company reports, revealed that Chinese EV manufacturer BYD has entered the top 10 in global new car sales for the first half of the year (January-June).BYD’s sales stood at 1.25 million units, a 96%
Hyundai Mobis (KRX: 012330) is poised to outline its electrification-centric vision at the apex of the European mobility show. The company is positioning itself to appeal to Europe's leading automotive companies, renowned for its rigorous standards in technical excellence and dependability. The stra
Amid concerns of dampened consumer sentiment in the latter half of this year, imported car manufacturers are launching aggressive discount campaigns.According to industry sources on Aug. 23, the “Big Three” German car manufacturers – BMW, Mercedes-Benz, and Audi – initiated their discount promotions
The domestic car market is rapidly reorienting around SUVs. For the first time, SUVs have surpassed 60% of the total new car market share this year.According to industry sources on Aug. 22, a total of 546,230 SUVs, including leisure vehicles (RVs), were sold domestically from January to July this ye
Hyundai Motor Group has initiated the development of electric vehicle motors that do not utilize “rare earth elements,” which are heavily dependent on China.According to industry sources on Aug. 13, Hyundai Motor Group is currently developing a propulsion motor at its Namyang Research Center in Hwas
As the transition from Liquid Crystal Displays (LCD) to Organic Light Emitting Diodes (OLED) in vehicle displays is expected to take place, K-Display, holding over 90% market share, has solidified its position, while Chinese competitors are engaging in pursuit.According to industry sources on Aug. 9
The total amount of battery energy in electric vehicles registered in 80 countries around the world in the first half of this year was 304.3 gigawatt hours (GWh), up 50.1 percent year on year, according to SNE Research on Aug. 3. The electric vehicles included battery electric vehicles (BEVs), plug-
The number of new imported passenger car registrations in July was 21,038, down 1.3 percent from a year earlier, according to the Korea Automobile Importers & Distributors Association on Aug. 3. The figure was down 21.0 percent from the previous month. The cumulative total from January through July
Problems with power loss while driving continue to plague electric vehicles from several major brands. The issues have mostly been detected in their Integrated Power Control Units (ICCU), but other causes have also been identified. Although the history of electric vehicles is still short and require
Despite a global recession, the market for automotive organic light-emitting diodes (OLEDs) is demonstrating considerable growth, intensifying the rivalry between Samsung Display and LG Display.LG Display has previously dominated the market, but Samsung Display is swiftly catching up, securing a ser
Samsung Chairman Lee Jae-yong ambitiously invested 9 trillion won (approximately US$8 billion at the time) in the company Harman, and after a span of about six years Harman has now firmly established itself as a robust and integral part of Samsung Electronics’ business portfolio.In Samsung Electroni
Samsung Electronics and LG Electronics are gearing up to participate in the upcoming IAA Mobility 2023 event scheduled to take place in Munich, Germany, in early September. As these tech giants aggressively steer their businesses towards the burgeoning market of automotive electric and electronic co
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