-
Hyundai Motor invests in U.S. mobility service company Migo
SEOUL -- Hyundai Motor, a top carmaker in South Korea, made a strategic investment in U.S. mobility service specialist Migo in an effort to develop innovative mobility services, following similar deals with promising startups in Singapore, India, Australia and China. Through its investment in the Seattle-based Mobility-as-a-Service (MaaS) company, Hyundai hopes to acquire know-how on the U.S. mobility business and develop competitive mobility services as Migo's unique
September 11, 2018
-
Hyundai's large self-driving truck tested on busy expressway
SEOUL -- Hyundai Motor, a top auto company in South Korea, made a breakthrough this week in its push for autonomous driving with the successful test of a large self-driving truck connected with a fully loaded trailer on a busy expressway. For a one-hour test on August 21, the company used a level 3 self-driving system which provides self-driving features such as lane keeping assistant and highway driving assistant. Level 4 and 5 require intervention by a driver
August 22, 2018
-
Some 27,000 BMW vehicles ordered to stop running on South Korean roads
SEOUL -- South Korea's transport ministry ordered the compulsory suspension of more than 27,000 BMW vehicles Tuesday amid heightened safety concerns over a string of fires, urging the German carmaker to give a clear answer to allegations that it has overlooked or covered up structural defects. The order from Land, Infrastructure and Transport Minister Kim Hyun-mee came as BMW failed to complete a voluntary recall of 106,317 vehicles to fix faulty compone
August 14, 2018
-
Hyundai Motor workers endorse modest wage increase
SEOUL -- Workers at South Korea's top carmaker Hyundai Motor endorsed a modest wage deal between union leaders and management, agreeing to stop the disruption of car production in an unusually quick manner that reflected widespread concerns about trade protectionism abroad and slow sales. Hyundai said that 63.4 percent of 42,046 unionized workers who participated in a vote Thursday approved the deal that included a basic wage increase of 45,000 won ($40), bonuses, the adju
July 27, 2018
-
GM to invest $50 mln in expansion of plant in S. Korea: Yonhap
SEOUL -- General Motors will invest $50 million to expand its main plant in South Korea as it strives to put its loss-making Korean unit back on track, GM Korea Co. said Friday. GM, which owns a 77 percent stake in GM Korea, will make the investment for the expansion of its plant in Bupyeong, just west of Seoul. It will increase the facility's output capacity by 75,000 units to 515,000 units by next year, the Korean unit said in a statement. The Trax compact SUV,
July 20, 2018
-
Hyundai and Baidu step up partnership to develop new technologies
SEOUL -- South Korea's Hyundai auto group and Chinese technology giant Baidu will step up their strategic partnership to jointly develop connected car technologies, an upgraded voice recognition system and an artificial intelligence (AI) robot for connectivity. Hyundai said in a statement Tuesday that a memorandum of understanding (MOU) was signed between the two companies at Baidu's headquarters in Beijing to strengthen their partnership. Choo Kyo-woong, who h
July 10, 2018
-
Hyundai invests in Israel's Autotalks to develop connected car chipset
SEOUL -- As part of efforts to gain next-generation technologies, Hyundai Motor, a leading South Korean carmaker, made a strategic investment in Autotalks, a global leader in vehicle to vehicle communications in autonomous driving, to cooperate in developing chipsets for connected cars. Without disclosing financial terms, Hyundai said Tuesday that its capital injection was made in the form of equity investment. Like other carmakers, Hyundai has tried to develop an ope
July 3, 2018
-
Hyundai Motor workers support strike for higher payment
SEOUL -- Workers at South Korea's top carmaker Hyundai Motor, known for their labor militancy, voted to support a strike proposed by union leaders for higher payment, shrugging off growing concerns about trade protectionism abroad and slow sales at home. Hyundai Motor said that 44,782 workers of its 50,417-member union participated in a vote Monday with 65.6 percent of them supporting a proposed strike after wage negotiations broke down. Union leaders proposed a wage packa
July 3, 2018
-
Bosch to strengthen powertrain business in S. Korea: Yonhap
SEOUL -- Robert Bosch GmbH, a German engineering and electronics company, will strengthen its electrical powertrain business in South Korea as it expects the mass market for electric cars to take off in 2020, a company executive said Tuesday. Bosch won 20 contracts to produce electrical powertrain systems worth a combined five trillion won ($4.5 billion) globally last year and aims to win further deals in new markets, the company said in a statement. "We believe in the co
June 26, 2018
-
GM Korea to launch Equinox, Traverse SUVs to jump-start sales: Yonhap
SEOUL -- GM Korea Co., the South Korean unit of General Motors Co., said it will launch two Chevrolet sport utility vehicles in the domestic market to revive its lackluster sales. "The Equinox (midsize SUV) will go on sale in the Korean market on Thursday. The Traverse (large-size SUV) will be the next Chevrolet SUV in the domestic market after the Equinox," GM President and Chief Executive Kaher Kazem said during a press event in Busan, some 450 kilometers s
June 7, 2018
