CATL’s plant in Erfurt, Germany, its first overseas plant, started its operation. Competition is likely to further intensify between the world’s largest and South Korean EV battery manufacturers. The plant in Germany has an annual production capacity of 14 GWh, equivalent to 280,000 cars.CATL’s prod
The Ministry of Land, Infrastructure and Transport announced on Dec. 27 that the number of registered imported cars in Korea was 3,166,772 at the end of last month, 12.4 percent of the total vehicle registration.The number was less than 600,000 in 2011. It topped one million in 2014 and has risen ra
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, target price of KRW110,000 We maintain BUY and 12m TP of KRW110,000 on LGE. We remain positive because logistics costs should become far less burdensome in 2023. Also, VS should continue to see to
The Korea Automobile Importers & Distributors Association announced on Dec. 5 that 28,222 imported cars were newly registered in November, up 50 percent from a year ago and up 11.3 percent from the previous month.The cars include 7,734 Mercedes-Benz, 7,209 BMW, 2,615 Volvo, 1,943 Volkswagen and 1,66
Hyundai Motor Group ranked second in the U.S. electric vehicle (EV) market in the January-September period of this year.The group accounted for 9 percent of the U.S. EV market during the period -- Hyundai Motor Co. took up 4 percent, placing fourth, while Kia Corp. controlled 5 percent, ranking thir
For the first time, Samsung Electronics ranked first among the world's top brands selected by YouGov, a global polling company. Google, which was No. 1 in 2021, fell to second place.Samsung Electronics earned 127 points to top YouGov Global Best Brand Rankings 2022, which was announced on Nov. 2
Consumer Reports, an American consumer media outlet, announced on Nov. 15 (local time) that Toyota, Lexus, BMW, Mazda and Honda came in first to fifth in its car brand reliability survey. It polled 300,000 vehicle owners in the United States.Four of the top five spots in this year's survey were
Major LG Group affiliates such as LG Electronics, LG Innotek, and LG Energy Solution are generating operating profits in new business domains such as automotive electronics and batteries.LG Electronics' Vehicle Component Solutions (VS) Division is considering raising its sales target for 2023 by
Global brand consulting company Interbrand estimated Samsung Electronics’ brand value for this year at US$87.7 billion, the fifth highest after the U.S. Big Four tech companies -- Apple, Microsoft, Amazon, and Google. Samsung has maintained its fifth place for three consecutive years since 2020.Hyun
As the war between Russia and Ukraine prolongs, Hyundai Motor Group is deeply contemplating whether to withdraw or stay in the Russian market.Hyundai Motor Manufacturing Russia (HMMR) did not sell a single car for two consecutive months in August and September.The Russian-Ukrainian war broke out on
Hyundai Mobis will supply chassis modules for electric vehicles of Mercedes-Benz AG, becoming the first non-European supplier of chassis modules for the German automaker.The company is now fully operating its new production facility in McCalla, Alabama in the United States. It has built the new plan
Hankook & Company Co., Ltd., the holding company of Hankook Tire & Technology Co., Ltd., recently has announced the establishment of a subsidiary company, Hankook & Company ES Deutschland GmbH, under its Energy Solution (ES) Business Headquarters. Located in Frankfurt, Germany, Hankook & Company ES
BMW has retained the top spot in the imported car market in Korea for four consecutive months by becoming the top seller in September.The company surpassed Mercedes-Benz in cumulative sales for the first time this year. Whether it will become the sales leader among foreign automakers in 2022 remains
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
The Korea Automobile Importers & Distributors Association announced on Sept. 5 that a total of 23,850 imported cars were newly registered in South Korea last month, up 7.8 percent from a year ago and up 11.3 percent from the previous month. The number for the first eight months of this year is 176,2
The Genesis G90 overtook the Mercedes-Benz S-Class in sales in Korea in the first half of this year.Domestic G90 sales hit 9,962 units in the first half of 2022, a Genesis official said on Sept. 4. This figure is 3,400 units more than the 6,473 units recorded by the S-Class. During the same period l
The Ministry of Land, Infrastructure and Transport has announced a recall of 222,138 cars divided into 14 models.Those include 185,523 Santa Fes and Max Cruzes sold by Hyundai Motor Co., in which a hydraulic electronic control unit short circuit may cause a fire. Those also include 125 Hyundai Avant
LG Electronics plans to launch an automotive electronics talent nurturing program next year, starting with Hanyang University and Kookmin University. It aims to enhance its competitiveness by expanding the domestic automotive electronics industry ecosystem.The company is expanding investment in auto
Hyundai Motor Group has reformulated its strategy for the Chinese market. It is planning to produce electric vehicles (EVs) in China and introduce high-end models and brands such as the Genesis in the Chinese market to expand its presence.In China, Hyundai Motor Group has been caught between high-en
Starting from Aug. 16 (local time), the United States halted paying subsidies for electric vehicles (EVs) not assembled in North America. U.S. President Joe Biden signed the Inflation Reduction Act on the day. The U.S. government released a list of EVs eligible for subsidies. Only 21 models assemble