Hyundai Motor Group is aiming to list its Indian subsidiary, Hyundai Motor India, in the coming months, raising up to $3 billion in a landmark initial public offering, according to industry sources Monday. HMI reportedly plans to file for the IPO in June, with Kotak and Morgan Stanley newly joining the syndicate as the deal advisers. If successful, it could surpass the $2.5 billion raised by the Life Insurance Corporation of India in 2022, potentially setting a new record in the Indian stock mar

Mobility June 3, 2024

Hyundai Motor Co. said Monday it clinched its third consecutive victory of the 2024 World Rally Championship season on Sunday at the Rally Italia Sardegna. The Hyundai World Rally Team secured a win in the sixth round of the 2024 WRC season on the Italian island of Sardinia, held from Thursday to Sunday. Rally Italia Sardegna, known for its challenging narrow and rough roads and sweltering early summer weather, is considered one of the toughest events in the WRC calendar. Hyundai's Ott Tana

Mobility June 3, 2024

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding and offshore businesses, unveiled its latest advancements in ammonia-fueled vessel technology at the Global Tech Forum on Friday in Athens, Greece. At the forum, which attracted over 100 attendees from the global shipbuilding and maritime industry, the Korean vessel manufacturer introduced its integrated scrubber technology designed to nearly eliminate toxic gas emissions from am

Industry June 2, 2024

HD Hyundai Oil Bank is stepping up its focus on the premium gasoline market with an updated brand design and slogan for Kazen, its flagship high-end gasoline product. The new design, launched in May, aims to improve readability and create a strong, dynamic impression. It will be rolled out across all HD Hyundai Oil Bank gas stations nationwide. The Kazen boasts an octane rating of over 100, exceeding legal standards. This high-octane fuel is crucial for preventing engine knocking and optimizing

Mobility May 30, 2024

Hanwha Qcells said Thursday that it had completed a major solar power and energy storage project in California to supply renewable energy to Meta, Facebook's parent company. Located in Borrego Springs, California, the facility has 50 megawatts of solar modules and a 200-megawatt-hour energy storage system. Meta has been carbon neutral since 2020 and is committed to achieving full supply chain carbon neutrality by 2030. A 50 MW solar capacity situates this project in the mid-range among util

Industry May 30, 2024

Hyundai Motor Group Executive Chair Chung Euisun met with United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan in Seoul on Tuesday to discuss enhancing private-sector collaboration in sustainable mobility during Al Nahyan's visit to Korea this week. The UAE President's visit, his first to South Korea, also included meetings with leaders of other major South Korean conglomerates, such as Samsung Electronics' Lee Jae-yong and SK Group's Chey Tae-won. These discuss

Mobility May 29, 2024

South Korea's privacy watchdog has denied claims from a news report suggesting the agency is specifically investigating Tesla for potential privacy violations related to the carmaker's Autopilot system. The Personal Information Protection Commission clarified that its current efforts are part of a broader privacy policy initiative that involves all smart cars and self-driving mobility systems, not just Tesla’s Autopilot. On Tuesday, a local daily reported that the Personal Information Prot

Mobility May 28, 2024

Korean nuclear power plant builder Doosan Enerbility saw its shares soar more than 16 percent Monday following a news report that it is likely to secure over 2 trillion won ($1.46 billion) worth of orders for NuScale Power’s 50 trillion won small modular reactor project in the US. Its stock surged by 16.65 percent, closing at 21,300 won and reaching a 52-week high of 21,750 won during trading hours. Doosan Group’s stock also peaked at 218,500 won. The report suggests that NuScale Pow

Industry May 27, 2024

Renault Group has been reshaping its brand with a strong emphasis on the balanced design of analog and digital elements, led by the group’s Design Vice President Gilles Vidal, a renowned figure in automotive design. Renault's design transformation began in 2021 with the introduction of its "Nouvelle Vague" brand strategy, meaning “new wave” in French, aiming to craft the next generation of stylish, modern vehicles for Renault. This effort bore fruit when the Rena

Mobility May 27, 2024

The South Korean government and automotive industry are on high alert as the US prepares to enforce regulations on Chinese-made connected vehicles this fall, citing national security concerns about potential data leaks involving American consumers. While the focus seems to be on complete vehicles, the regulations could indirectly affect Chinese-made components if they are deemed integral to the data collection and transmission processes that raise security concerns. The broad scope of the term &

Mobility May 26, 2024

  HD Hyundai announced Friday a partnership with Shell to advance liquefied hydrogen (LH2) transportation technologies. HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries, both integral parts of HD Hyundai's shipbuilding division, have signed a joint development agreement with Shell International Trading and Shipping Company Ltd. The agreement was signed at the HD Hyundai Global Research and Development Center in Gyeonggi Province. Executives in attendance incl

Industry May 24, 2024

Kia unveiled its latest electric vehicle, the EV3, a subcompact electric sport utility vehicle designed to attract mainstream consumers and drive mass adoption of EVs, during an online media conference Thursday. Made for nimble city driving, the EV3 serves as the entry-level model in Kia’s EV lineup that boasts a range of up to 600 km according to the Worldwide Harmonized Light Vehicle Test Procedure, or WLTP, marking it as best-in-class for its size. It is equipped with a front-wheel-driv

Mobility May 23, 2024

An increasing share of manufacturing capacity is not being used in Korea’s battery industry due to waning demand in the electric vehicle market. But manufacturers remain optimistic about a recovery later this year as inventory adjustments end and new EV models are launched. Official data released this week reveal that LG Energy Solution’s factory capacity utilization rate fell to 57.4 percent in the first quarter, a steep decline from 77.7 percent during the same period last year. Si

Mobility May 22, 2024

Hyundai Motor Group Executive Chair Chung Euisun met with Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, in Seoul on Monday to discuss ongoing and expanding collaborations in hydrogen energy and electric vehicle production. The meeting also included Kim Il-boom, executive vice president at the Global Policy Office, Hyundai Motor Company CEO Jang Jae-hoon and his foreign affairs advisor Sung Kim, a former US ambassador to South Korea. Hyundai is addressing Indone

Economy May 21, 2024

Hyundai Motor Group is reportedly set to produce a hydrogen-powered supercar with a whopping 775 horsepower as early as 2026, according to news reports Tuesday. If the plan materializes, the car will be the first of its kind. Reports said the new car will be based on the N Vision 74 concept car that was unveiled as a hydrogen hybrid model two years ago. The car codenamed the N74 is expected to be a hydrogen fuel cell-only supercar. Details of the car are said to have already been shared with Hyu

Mobility May 21, 2024