Hyundai Mobis to build 1st EV power system plant in Slovakia

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Thursday that it signed an agreement with the Slovakian government to set up its first manufacturing plant for electric vehicle power systems in Europe. With a 350 billion won ($256.7 million) investment, Hyundai Mobis will construct a plant in the Novaky region of western Slovakia to produce EV drive units consisting of an electric motor, inverter and reducer. Once completed next year, the facility will have the capacity

Oct. 16, 2024

LS Electric forays into Vietnam’s smart factory solutions market

LS Electric forged a partnership with Becamex, an industrial development firm in Vietnam, in a bid to enter the booming smart factory solutions market. The companies signed a memorandum of understanding on Monday, outlining ways to advance smart factory businesses in Vietnam’s manufacturing sector to contribute to creating a sustainable industrial ecosystem. LS Electric Chairman Koo Ja-kyun and Becamex Chairman Nguyen Van Hung and other executives attended the signing ceremony held at the

Oct. 15, 2024

Korea urged to enhance readiness for self-driving safety rules

South Korea should join the global movement to set safer international standards for autonomous driving systems, according to a report released by the state-run Korea Automotive Technology Institute on Monday. Cho Min-wook, senior researcher and author of the report, stated that the International Organization for Standardization and the auto industry are looking to adopt a more comprehensive approach that encompasses safety and security for Level 3 and more advanced self-driving systems. ISO is

Oct. 14, 2024

Aston Martin seeks bigger footing in Korean luxury car market

INCHEON -- Aston Martin, the ultraluxury British sports car brand known for its affinity with the James Bond franchise, plans to expand its presence in South Korea's booming high-end car market with a more proactive approach to marketing. “This year marks the 111th anniversary of Aston Martin, but we are also celebrating another important milestone -- 10 years since our entry into Korea,” said Marco Mattiacci, chief brand officer and commercial officer of Aston Martin, during a

Oct. 11, 2024

HD Hyundai unveils world’s 1st high-pressure ammonia engine

HD Hyundai Heavy Industries, the world’s largest shipbuilder affiliated with HD Hyundai, said Thursday that it has developed the world’s first ammonia dual-fuel engine using a high-pressure direct injection system. The company recently passed the “type approval test” for its HiMSEN ammonia dual-fuel engine, which evaluates whether critical apparatuses installed on vessels meet mandatory requirements. The test was conducted at its Ulsan engine center and was attended by ke

Oct. 10, 2024

[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?

China’s CATL, the world’s largest battery maker for electric vehicles, is reportedly seeking a bigger footing in Korea, the home turf of its archrivals LG Energy Solution, Samsung SDI and SK On, and a crucial client, Hyundai Motor Group. According to industry sources, the Chinese company is reviewing setting up its Korean unit by upgrading the current office in Seoul that has been operational since 2011. The specific nature of the new operations has not yet been disclosed -- whether

Oct. 9, 2024

Hyundai, Singapore bolster R&D ties in hydrogen, manufacturing

Hyundai Motor Group said Wednesday it will boost its partnership with Singapore, home to the carmaker’s highly automated production base and key research hub, focusing on areas ranging from advanced and sustainable energy to manufacturing solutions. The company signed a memorandum of understanding with Malaysia’s Nanyang Technological University earlier in the day during the Singapore-Korea Business Forum. The signing ceremony was attended by: Chang Jae-hoon, president and CEO of Hyu

Oct. 9, 2024

Korea launches antidumping probe into Chinese steel

Following the US and EU’s efforts to curb the flow of "underpriced" Chinese steel, South Korea has launched an anti-dumping probe into imports of Chinese-made heavy steel plates. The Korea Trade Commission under the Ministry of Trade, Industry and Energy announced on Friday that it initiated an investigation against the Chinese steel suppliers, including Shagang Group. The steel products in question, sheets 6 millimeters thick or more, are primarily used in shipbuilding. After a

Oct. 8, 2024

[From the Scene] Hyundai Mobis catalyzes electrification with new mobility tech

UIWANG, Gyeonggi Province – Hyundai Mobis, a car parts manufacturing affiliate of Hyundai Motor Group, on Wednesday opened its electrification research wing to the press in Uiwang, 24 kilometers south of Seoul. The wing, built as a leading tech center for developing and testing key parts for electric vehicles, was completed in August 2023, and has been in use since December. With a record-breaking 1.7 trillion won ($1.3 billion) in investment this year alone, the company has introduced 65

Oct. 3, 2024

[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears

Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrades

Oct. 1, 2024