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Hyundai

Hyundai to ship China-made cars to Southeast Asia amid erratic sales recovery

SEOUL/BEIJING: Hyundai Motor Co plans to ship China-made cars to Southeast Asia, its China joint venture, as a plunge in Chinese sales has left much of its massive local manufacturing capacity idled. Hyundai once ranked third by China sales alongside affiliate Kia Motors Corp. But just as it opened its fifth factory in the country last year, a diplomatic dispute saw Chinese consumers turn against South Korean goods, damaging Hyundai’s sales and brand image. Diplomatic ties have since normalized but Hyundai’s recovery…

Empty shipyard and suicides as ‘Hyundai Town’ grapples with grim future

SOUTH KOREA: When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea’s annual average salary. But the 52-year-old was laid off in January, joining some 27,000 workers and subcontractors who lost their jobs at Hyundai Heavy between 2015 and 2017 as ship orders plunged. To support their family, Lee’s wife took a minimum wage job at a Hyundai Motor supplier. His 20-year-old daughter,…

Automakers warn US tariffs will cost hundreds of thousands of jobs, hike prices

WASHINGTON: Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars. A coalition representing major foreign automakers including Toyota Motor, Volkswagen, BMW, and Hyundai Motor, said the tariffs would harm automakers and U.S. consumers. The administration in May launched an investigation into whether imported…

Hyundai’s new Nexo Fuel Cell Vehicle unveiled at CES 2018

LAS VEGAS: Hyundai's newly unveiled 2019 NEXO Fuel Cell Vehicle is the most talked about technology at the Consumer Electronic Show (CES) 2018 being held in Las Vegas. Following review of hundreds of products at CES, NEXO has also has won the Reviewed.com Editor's Choice award for the show. The publication’s recognition highlights NEXO as a key product in both the tech and automotive space for 2018. One of 34 products to be recognized out of the tens of thousands displayed at this year's CES, the award stems from…

Hyundai plans long-range premium electric car in strategic shift

SEOUL: Hyundai Motor said on Thursday it was placing electric vehicles at the center of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota Motor, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China. Toyota is now also working on longer distance,…

Hyundai to assemble cars in Pakistan

ISLAMABAD: Hyundai Motor Company plans to set up a car assembly plant in Pakistan in a joint venture with local textile firm Nishat Mills, an official from Nishat said on Friday. Hyundai's return to Pakistan will boost the government's efforts to bring foreign investment in the country. Hyundai and South Korea's Kia Motor used to assemble cars in Pakistan until 2004 but withdrew after their local partner Dewan Farooque Motors Limited went bust. It was not clear how much capital Hyundai, South Korea's largest…

Hyundai eyes autonomous cars for the masses

LAS VEGAS: Hyundai's Ioniq draws little attention as it maneuvers the streets of Las Vegas. The mid-sized sedan is one of a number of autonomous cars roaming the city's streets during the high-tech Consumer Electronics. The South Korean automaker wants to stand out by being ordinary: making a self-driving car for the average consumer. "The autonomous Ioniq concept is a normal car, not a science project," said Mike O'Brien, vice president of Hyundai North America, during a demonstration for AFP. "We…

Hyundai, Kia aim to grow 2017 sales to 8.25 million vehicles globally

SEOUL: Hyundai Motor Co and affiliate Kia Motors said on Monday they aim to increase their combined sales to 8.25 million vehicles globally in 2017, despite rising competition. The 2017 target is slightly higher than their 2016 goal of 8.13 million vehicles. The South Korean automakers' final sales figures for 2016 are due out later on Monday, with analysts expecting a miss due to weak demand in emerging markets. "The 2017 goal is slightly higher than my projection," said Ko Tae-bong, an auto analyst at Hi Investment…