Genesis, a division of Hyundai Motor, will add a high-performance trim called “Magma” to all its models from 2025 starting with the GV60, just like premium automaker rivals Mercedes-Benz and BMW have AMG and M as their high-performance luxury trims.Genesis took the wraps off the GV60 Magma Concept C
A scenario analysis has been conducted on the aftermath of the U.S. presidential election, which poses a major risk to the Korean secondary battery industry for electric vehicles which is expected to expand supply in earnest beginning from 2025.If U.S. presidential hopeful Donald Trump, who has ment
As Korean battery companies are struggling amid slowing growth in the global electric vehicle market, they are expected to improve their profit margins despite falling sales in 2024.“This year, LG Energy Solution and Samsung SDI are expected to maintain profit margins in the 5 percent range, while S
Hyundai Motor Group signed a memorandum of understanding (MOU) on cooperation in future mobility with Red Sea Global (RSG), a leading developer of the Red Sea and western coastal areas, in Riyadh, the capital of Saudi Arabia, on March 24 (local time).The Red Sea coastal development project is one of
For the first time since the onset of the COVID-19 pandemic, the Export-Import Bank of Korea (Korea Eximbank) is preparing to establish its first overseas office in Poland, marking its initial foray into the country. The recent amendment to the Export-Import Bank of Korea Act has created the opportu
The performance of SK on’s C has come into the spotlight after a U.S. electric car driver reported that the battery has maintained 97 percent of its original capacity after driving 160,000 kilometers in 21 months.Automotive media outlet CarScoops carried a story based on a recent post on the F-150 L
According to sources from the battery and investment banking (IB) industries on March 24, it has been confirmed that SK on is in the final stages of securing US$1.1 billion in funding.Firstly, SK on secured a US$400 million loan through Shinhan Bank last month, which was then transferred to its U.S.
Naver is taking a significant step into the robotics market by unveiling the world’s first robot operating system based on a web platform. Its greatest strength is compatibility with web services, positioning Naver to become the “Android of Robotics” in the still-nascent robot OS market.During the ‘
Samsung SDI, a leader in the all-solid-state battery (ASB) sector, has reconfirmed its goal to start mass production of all-solid-state batteries in 2027.During the annual general meeting held on March 20 at The K Hotel Seoul in Seocho District, Seoul, Choi Yoon-ho, CEO of Samsung SDI, announced, “W
Hanwha Aerospace is working with the Korea Aerospace Research Institute to develop a next-generation launch vehicle (KSLV-III) that significantly improves on the performance of the Nuri (KSLV-II). Based on a public-private partnership, the company looks to strengthen its launch vehicle technology an
A high-power (120kV, 60kW) electron-beam welding system has been developed for the first time in the country, paving the way to the domestic production of a local vacuum high-power electron-beam welding system, the key equipment for the welding of small modular reactors (SMRs).For the first time in
In February, automobile exports, production, and domestic sales declined from the same month of 2023 and the previous month of January.The descent was attributable to a slowdown in the growth of electric vehicle sales in both the Korean and overseas markets, as well as a drop in production and shipp
Hyosung Advanced Materials recently announced the establishment of the Future Strategy Office through an internal bulletin board, according to industry sources on March 19.Industry insiders speculate that Hyosung Group will expand new businesses such as new materials, bio materials, and secondary ba
LG Electronics is expanding its content ecosystem beyond household appliances to mobility by installing its own OTT service, LG Channel, into Hyundai and Kia vehicles.According to the electronics industry on March 18, LG Electronics started the LG Channel service in Hyundai and Kia vehicles from Jan
India, the world’s third-largest automobile market, is expected to emerge as an electric vehicle battleground after the United States and Europe. This is because the Indian government, which has been sticking to high tariff barriers, has launched a drastic tariff reduction policy to attract global e
Renault Korea Motors plans to invest 700 billion won to transform its Busan plant into a future car production base. Discussions are also underway with the French Renault Group headquarters to increase the investment scale to around 1.5 trillion won by 2027.On March 18, Renault Korea Motors exchange
Kwak Hyung-chan, the manager of the Automotive Optics Team at Samsung Electro-Mechanics’ Optical Communication Solutions Division, discussed the competitive edge of Samsung Electro-Mechanics’ camera module business during a technology briefing held on March 14. He highlighted the company’s “independ
The U.S. Congress began to keep Hyundai and Kia in check as the two Korean automakers continue to enjoy the growth of their electric vehicle sales in the U.S. market. The U.S. Congress made a thing of their business strategy of discounting subsidized electric vehicles through a lease car exception u
Kumho Tire plans to invest more than 1 trillion won to build its inaugural factory in Europe by 2027. The company intends to evaluate incentives and tax benefits pledged by four countries -- Romania, Serbia, Portugal, and Turkey -- including the size of subsidies, before finalizing the factory’s loc
Top executives of LG’s major affiliates visited the headquarters of Mercedes-Benz in Germany. A lot of attention is being paid to whether or not the visit will lead to further cooperation between LG and Mercedes-Benz in the automotive electronics business.Top executives of LG’s major affiliates in t