French auto group Renault plans to invest hundreds of millions of euros in Korea to make it the export hub of mid- and large-sized Renault cars, the group's chairman and CEO, Luca de Meo, said during his recent visit to Seoul.Luca de Meo held a news conference in Seoul on Oct. 11 to discuss Rena
Hyundai Motor Group took third place in the European car market by beating Renault Group in terms of cumulative sales in the first three quarters of this year.Hyundai Motor Co. and Kia Corp. sold a combined total of 821,531 units in Europe during this period, up 6.6 percent from the same period last
LG Energy Solution will supply batteries for electric vehicles to Toyota of Japan, the world’s No. 1 player in car sales. The Korean battery maker also signed a battery supply deal with Japan's Honda earlier this year.LG Energy Solution is in talks with Toyota over the supply of batteries produc
A survey has found that three German automakers -- BMW Korea, Mercedes-Benz, and Volkswagen Korea -- had the highest number of recalls over the past five years from 2018 to August 2022.BMW Korea topped the list with 2,702 recalls during this period, according to Rep. Park Sang-hyuk of the Democratic
South Korean automakers sold 638,744 cars last month, up 12.3 percent from a year ago. Domestic and overseas sales fell 1.1 percent to 105,091 and rose 15.4 percent to 533,653, respectively. For the first eight months of this year, they sold 5,025,253 cars at home and abroad, down 0.8 percent year o
While the labor and management of Hyundai Motor Co., Renault Korea and Kia Corp. have ended their wage and collective bargaining talks in peace, GM Korea's management is still at loggerhead with the union.No outcome came from the 17th round of negotiations held on Aug. 25. Since then, their nego
Korea’s automobile exports totaled US$5.14 billion in July on the back of rising demand for Korean eco-friendly vehicles. It was the first time that the nation's monthly automobile exports topped US$5 billion.Last month, automobile exports swelled 25.3 percent from the same month last year, acco
Hyundai Motor Group has become the world's third-largest automaker in terms of sales volume. It is 12 years after becoming the world’s fifth-largest automaker. The company's growth was attributed to successful production line management when competitors around the world were struggling due t
Hyundai Motor Group was ranked fifth in the global EV sales rankings announced by Japan’s Nihon Keizai Shimbun on July 28.The rankings were based on electric vehicle sales data in 66 countries compiled by MarkLines, a company specializing in automobile market research. Tesla of the United States cam
The share of eco-friendly cars in Korea’s total automobile exports has exceeded 30 percent for the first time.The Korea International Trade Association announced on July 11 that green car exports from January to May this year hit US$6.18 billion, accounting for 30.3 percent of the total automobile e
LG Electronics' automotive electronics business is growing fast. It posted eight trillion won in order intake in the first half of this year.LG Electronics announced on July 5 that its VS Business Division has recently won orders for in-vehicle infotainment systems from a global automaker that o
Hyundai Motor Co.'s unionists have voted for the first strike in four years. If the carmaker's labor union stages a strike, it may spread to other carmakers, sparking off a summer labor struggle.In a vote on July 1, 71.8 percent of Hyundai Motor unionists voted for a strike. Accordingly, if
Hyundai Motor Co.’s electric vehicle IONIQ 5 has outscored models from Mercedes-Benz and Audi in a performance test by Germany’s leading automobile magazine Auto Motor und Sport (AMS). The IONIQ 5 was selected as the most competitive car in a recent evaluation of four electric SUV models conducted b
So-called “aristocratic labor unions” are attempting to raise wages by hundreds of millions of won, citing price hikes. Labor unions of major Korean conglomerates are putting pressure on the management by threatening to go on strike if their wage demands are not met, even in the midst of a stagflati
Renault Korea Motors will pursue the success of its new car project and production normalization with the support from Renault Group, its largest shareholder, and Geely of China, its second-largest shareholder, said Stephane Deblaise, the company's new CEO, on June 10.Deblaise took the helm of t
South Korean automakers sold a total of 613,562 cars in May this year, down 2.9 percent from a year ago. All of the five companies showed a negative year-on-year growth due to the ongoing global automotive chip shortage, supply chain malfunction attributable to the war in Ukraine, etc. For the first
A severe shortage of automotive semiconductors and the aftermath of Russia’s invasion of Ukraine have dampened automobiles sales in Europe and the United States, but Hyundai Motor Co. and Kia Corp. have rather expanded their presence in these markets.The Korea Automobile Manufacturers Association (K
Geely Automobile Holdings, a subsidiary of Geely Group, the largest private automobile group in China, has acquired a 34.02 percent stake in Renault Korea Motors.As a result, Geely Automobile Holdings overtook Samsung Card to become Renault Korea Motors’ second-largest shareholder. However, even aft
Hyundai Motor Co. and Kia Corp. saw their sales in the European market expand 21.3 percent in the first quarter of 2022 despite a shortage of automotive semiconductors. Thanks to the sharp sales growth, Hyundai Motor Group's ranking in the European market rose to third, up two notches from the s
Korean automakers and foreign carmakers' operations in Korea delivered mixed results in 2021. Hyundai Motor Co. and Kia Corp. achieved record-high sales in 2021 thanks to strong sales of the luxury brand Genesis and increased sales of SUVs, respectively. Renault Korea Motors, SsangYong Motor and