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
Samsung Group and BMW are expected to expand their cooperation from electric vehicle (EV) batteries to EV parts and autonomous driving cars.Samsung Electronics chairman Lee Jae-yong met with BMW top executives, including chairman Oliver Zipse, at the BMW Driving Center on Yeongjong Island, Incheon o
Major Japanese and German automakers such as Toyota and BMW are jumping into the hydrogen-powered vehicle market, which is dominated by Hyundai Motor Co.Toyota will introduce the second-generation model of the Mirai, a hydrogen car, to the Chinese market in December. It plans to use about 100 units
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
LG Energy Solution has placed second in the North American electric vehicle (EV) battery market. The use of batteries from SK On and Samsung SDI has also increased significantly.The total amount of battery energy of EVs registered in North America from January to October this year stood at 56.4 giga
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
Jiangsu Yueda Kia, Kia Corp.'s subsidiary in China, fell into a state of complete capital impairment at the end of the third quarter of this year. The company is in a dire need to receive support funds again in nine months since its first complete capital erosion at the end of 2021. Analysts say
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
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
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed. Samsung SDI’s business strategy of centering on margins rather than its top line is starting to pay off.To eliminate value discount graduallyWe stick to a Buy rating and a TP of W1,000,000 on Sams
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
Hyosung Advanced Materials announced on Oct. 13 that it has acquired International Sustainability & Carbon Certification (ISCC) PLUS certification, an international certification program for eco-friendly materials, for the first time in the global tire cord industry.ISCC PLUS is a sustainability cer
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
Market research firm SNE Research said on Oct. 6 that the global EV battery usage was 287.6 GWh in January to August this year, up 78.7 percent from a year ago.The use of CATL EV batteries increased 114.7 percent year on year to 102.2 GWh and the company’s market share rose from 29.6 percent to 35.5
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
Korean battery makers’ combined market share declined in the January-July period of this year due to the rapid growth of Chinese competitors. In particular, in the July rankings, China’s BYD claiming second place, beating out LG Energy Solution.The total battery usage of electric vehicles (EVs) regi
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