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Audi, Mini bounce back in Korea on surging EV sales
Electric vehicle sales are fueling Audi and Mini's comeback in Korea after years of sharp declines, as they find footing in a market increasingly dominated by EV-only brands. According to data from the Korea Automobile Importers and Distributors Association, Audi sold 4,106 EVs in Korea between January and September, up 46 percent from the same period last year. While Audi ranks sixth overall in Korea’s imported car market with 8,858 units sold, the increase in EV sales places it third among EVs
Oct. 19, 2025 -
LG Energy Solution, GM win Battery Innovation of the Year for manganese-rich EV battery tech
General Motors said Friday it won the Battery Innovation of the Year award at The Battery Show North America for its lithium manganese rich battery technology jointly developed with LG Energy Solution. Targeting the world’s first commercial launch of LMR batteries by 2028, the new chemistry combines longer driving range, higher energy density and lower costs by increasing manganese content in the cathode to reduce reliance on cobalt and nickel. GM plans to use the next-generation cells in large
Oct. 17, 2025 -
Hyundai Motor India unveils $5.1b growth road map to 2030
Hyundai Motor India, the Indian arm of South Korea’s Hyundai Motor Co., held its first-ever investor meeting on Wednesday to outline an ambitious growth strategy through 2030. The company aims to achieve $11 billion in sales while maintaining high profit margins. Hyundai's Global President and CEO Jose Munoz announced that Hyundai would invest $5.1 billion in India by 2030, underscoring the country’s role as a “strategic priority” in the automaker’s global operations. He said Hyundai plans to ma
Oct. 15, 2025 -
Hyundai may face W8.4tr hit from US tariffs: report
Hyundai Motor Group could face an annual tariff burden of around 8.4 trillion won ($5.9 billion) if the US maintains its current 25 percent import duty on Korean automobiles, according to a report released Wednesday by NICE Investors Service. The report estimated that Hyundai would shoulder the largest tariff cost among global carmakers, paying over 8 trillion won compared to Toyota’s 6.2 trillion won, General Motors’ 7 trillion won and Volkswagen’s 4.6 trillion won, as Korea remains excluded fr
Oct. 15, 2025 -
3 carmakers to recall over 42,000 vehicles due to faulty parts
Hyundai Motor Co., KG Mobility Corp. and Stellantis Korea Co. will voluntarily recall more than 42,000 vehicles to address various component defects, the transport ministry said Wednesday. The three companies are recalling a combined 42,388 units across four different models, the Ministry of Land, Infrastructure and Transport said in a press release. The recalls were issued due to several defects, including a faulty charging door in Hyundai Motor's Ioniq 6 model, a possible power outage during d
Oct. 15, 2025 -
Posco Future M wins record W671b anode deal
Posco Future M, the battery materials arm of Posco Group, has secured its largest-ever anode materials supply contract, worth 671 billion won ($468.3 million), with a global automaker. According to Posco Future M’s regulatory filing on Tuesday, the company will supply natural graphite anode materials over four years from October 2027 to September 2031. The contract includes an option to extend through 2037 by mutual agreement, which could raise the total value to 1.7 trillion won. The client’s n
Oct. 14, 2025 -
US port fee piles pressure on Hyundai, Kia amid tariff delay
Hyundai Motor and Kia are facing mounting cost pressures in the US market as Washington begins imposing a new port entry fee on foreign-built vehicle carriers, adding to the burden of the 25 percent import tariff. Starting Tuesday, the US will collect a $46-per-net-ton entry fee on all non-US-built vehicle carriers entering American ports under a Section 301 action announced by the US Trade Representative in April. The measure aims to protect the domestic shipbuilding industry from Chinese compe
Oct. 14, 2025 -
Hyundai, Tesla slash prices as US EV battle intensifies
Hyundai Motor and Tesla have ignited a fierce electric vehicle price war in the US, slashing prices and rolling out budget models in a bid to defend their footing in the world’s second-largest EV market. According to industry sources on Tuesday, Hyundai Motor is continuing its aggressive price cutting strategy launched earlier this month, reducing prices on the 2026 Ioniq 5 by up to $9,800 and offering a $7,500 cash rebate on the 2025 model. Hyundai Motor America CEO Randy Parker had mentioned,
Oct. 14, 2025 -
Porsche Korea Q3 sales jump 38% on strong EV demand
Porsche Korea said Tuesday it sold 8,345 vehicles in the third quarter, marking a 38.1 percent increase from a year earlier, driven by rising demand for electric models. The strong performance contributed to the brand’s highest sales volume among overseas emerging markets, according to the company. Globally, Porsche AG delivered 212,509 vehicles between January and September, with electric models accounting for 35.2 percent of total sales. Pure EVs made up 23.1 percent, while plug-in hybrids acc
Oct. 14, 2025 -
In his five years, Chung Euisun has cemented Hyundai’s global top-three rank
Hyundai Motor Group Executive Chair Chung Euisun, having cemented the auto conglomerate’s title of world’s third-largest carmaker, seeks to sustain growth while weathering the storms of US tariffs and Chinese automakers' expanding global reach. Marking the fifth anniversary of the top leadership appointment on Tuesday, Chung has guided the rise of Hyundai Motor, Kia and its premium brand Genesis on the global stage over the past five years. The three brands sold 7.23 million vehicles last year,
Oct. 13, 2025 -
Korens joins government-backed AI manufacturing project
Korens, a South Korean automotive parts maker, said on Monday that it has been selected to join the government’s physical manufacturing AI support project led by the Ministry of Science and ICT. Through the initiative, Korens plans to adopt Korean-style physical AI technology and transform its production sites into AI-driven autonomous factories capable of making operational decisions without human intervention. The company expects that applying physical AI to existing facilities will reduce pro
Oct. 13, 2025 -
LG Energy Solution defies EV slowdown with ESS-led profit
LG Energy Solution has posted a second consecutive quarter of profit excluding US subsidies, as surging demand for energy storage systems offset a downturn in electric vehicle sales. According to its regulatory filing on Monday, the company’s operating profit rose 34.1 percent from a year earlier and 2.4 percent from the previous quarter to 601.3 billion won ($420.9 million) in the July-September period. Without the Advanced Manufacturing Production Credit under the US Inflation Reduction Act, w
Oct. 13, 2025 -
SK On expands Georgia plant for EVs, ESS amid US curbs on China
SK On is expanding its Georgia plant into a full-scale US production base for both electric vehicle and energy storage system batteries, bolstering its position amid tightening restrictions on Chinese battery imports. In September SK On signed its first major US ESS deal with Colorado-based renewable developer Flatiron Energy Development, valued at about 2 trillion won ($1.4 billion) for 7.2 gigawatt-hours of cost-efficient lithium iron phosphate batteries. To deliver the four-year contract star
Oct. 12, 2025 -
Hyundai Motor’s autonomous hydrogen truck makes Time magazine’s Best Inventions list
Hyundai Motor Company announced Friday that its Xcient Fuel Cell Class 8 truck has been selected for Time magazine’s Best Inventions of 2025, recognized for bridging the transition toward both hydrogen mobility and autonomous driving. Time's annual list highlights 300 groundbreaking innovations from around the world that are transforming human life and daily experiences. Jointly developed by Hyundai Motor and PlusAI, a US-based autonomous driving technology company, the heavy-duty truck is built
Oct. 10, 2025 -
Hybrid boom offsets EV slump in Korea’s auto market
Despite challenges ranging from US auto tariffs to slowing electric vehicle demand, Korea’s automotive market is showing resilience, driven by carmakers’ push to expand hybrid offerings and strengthen their SUV and RV portfolios. From January to September, a highlight of Hyundai Motor Group’s new launches was the All-New Palisade, the first revamped version of the large SUV in six years. A major selling point was the addition of a hybrid powertrain option -- a first in a family SUV. Consumer res
Oct. 7, 2025