Germany’s abrupt suspension of subsidies for electric vehicles (EVs) sold in the country is puzzling South Korea’s auto industry, which exports electric vehicles to the region. This along with France’s plan to reorganize its EV subsidies to measure carbon emissions and provide differential subsidies
Hyundai Mobis (KRX 012330) will unveil 20 production-ready mobility technologies at CES 2024. These include the ‘Innovative Display’ series, packed with high-value advanced technologies, and the high-power Integrated Charging Control Unit (ICCU), a critical future mobility technology, which are like
Samsung Electronics, once the world’s No. 1 research and development (R&D) company, has slipped to seventh place. The number of Korean companies in the top 2,500 global R&D companies has also dropped.Samsung’s R&D investment in 2022 amounted to 18.435 billion euros (US$20.083 billion), pulling down
Hyundai, Honda, Volkswagen and other foreign automakers in the United States have been accused of sabotaging the establishment of labor unions.Workers at Honda’s Indiana plant, Hyundai’s Alabama plant and Volkswagen’s Tennessee plant have filed complaints with the National Labor Relations Board (NLR
Samjong KPMG (KPMG Korea) predicts that the semiconductor and smartphone markets will rebound in 2024 thanks to the full-scale commercialization of artificial intelligence (AI) technology. On the other hand, the automobile, shipping, construction, and distribution industries are likely to show slugg
As the Foreign Entity of Concern (FEOC) regulation under the U.S. Inflation Reduction Act (IRA) is set to be implemented from Jan. 1 next year, the potential benefits for domestic battery material companies are drawing attention.On Dec. 11, the battery material industry is closely monitoring the pos
Hyundai Motor has announced to launch its entire Genesis lineup as electric vehicles from 2025. But with the number of hybrid electric vehicle registrations at a record high in Korea this year, the automaker may launch hybrid models (excluding mild hybrids) for the first time.According to the CarIsY
GM Korea has reached the milestone of 10 million cars in exports in its 21st year in Korea with vehicles ranging from the Chevrolet Aveo and the Spark to recent models such as the Trailblazer and the Trax Crossover.GM Korea announced on Dec. 7 that it has crossed the 10 million unit mark in cumulati
Global EV battery usage continued to enjoy double-digit growth this year despite concerns that the growth of the EV market will slow down.The total usage of batteries in battery electric vehicles, plug-in hybrids, and hybrid vehicles registered in various countries from January to October this year
Automakers are making changes in their strategies as they grapple with the increasingly complex rules of the Inflation Reduction Act (IRA), which subsidizes electric vehicles built in North America while excluding Chinese supply chains. Some automakers are looking to keep Chinese companies as partne
Hyundai Motor will shut down its local plant, which once drove the automaker’s strong sales in Russia, by the end of this year. Some local reports say that the Korean carmaker will sell the plant to a local company in Russia in the aftermath of the Russian-Ukrainian war.Hyundai Motor plans to close
POSCO International has recently announced on Dec. 6 that it has secured an order worth 300 billion won for eco-friendly car parts from a major U.S. automaker.The electric vehicle (EV) components acquired in this order are reducers, essential parts of the EV drive system, and are increasingly spotli
Due to a slump in the global economy, auto demand is expected to decline in Korea and Korea’s car exports are expected to increase slightly as Korean car makers still have waiting orders. Therefore, Korea’s car production is expected to remain flat next year.The Korea Automobile and Mobility Associa
Hyundai Mobis (KRX 012330) announced on 5th that Hyundai Mobis has established the 'Electrification Research Center' within the Hyundai Motor Group's Uiwang R&D Center in Uiwang, Gyeonggi Province and held an inauguration ceremony. At the ceremony, the newly appointed President of Hyundai Mobis, Lee
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
Hyundai Mobis (KRX 012330) is poised to secure new orders for premium vehicle displays, characterized by large screens, high definition, and slim design, using a fusion of innovative technologies targeting global automakers. The company plans to capture the next-generation vehicle display market wit
China has overtaken Germany as the top exporter of electric vehicles (EVs) to Korea.Korea’s imports of Chinese EVs totaled US$172 million in October, according to the Korea International Trade Association (KITA). That’s more than double the amount of Korea’s German EV imports (US$70 million). This i
The Hyundai Motor Group Innovation Center in Singapore (HMGICS) is an urban micro-factory. Urban micro-factories are characterized by a multi-vehicle, low-volume production system rather than mass production of a traditional automobile factory. Although Singapore has a small automobile market, it is
The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.In 2024, global automotive demand should continue to recover, but growth momentum is set to slow y-y. Although demand has yet to return to pre-pandemic levels (95mn units), a significant portion
Facing a slowdown in electric vehicle demand, South Korea’s battery industry has begun reducing staff at its overseas plants. This move appears to be in response to lowered operation rates, following the revision of electrification plans by automakers, which has delayed battery shipments.LG Energy S