LG Chem to secure massive supply of lithium from ExxonMobil

LG Chem has forged a deal with US energy giant ExxonMobil to secure up to 100,000 metric tons of lithium, a key material for cathodes used in electric vehicle batteries. According to the company, LG Chem Vice Chairman and CEO Shin Hak-cheol and ExxonMobil Senior Vice President Dan Holton signed a memorandum of understanding on Wednesday in Seoul. The deal price was not revealed immediately. Under the agreement, ExxonMobil will supply lithium extracted from its Arkansas brine fields to LG Chem&r

Nov. 21, 2024

KG Mobility’s Tivoli hits 300,000 units sold in Korea

KG Mobility’s compact SUV Tivoli has surpassed 300,000 units sold in South Korea, with its global cumulative sales exceeding 420,000 units since its debut in 2015. The Tivoli has gained traction for its affordability, practical designs and consistent updates, making it a popular choice for first-time SUV buyers and young drivers. In its first year, the car captured 54.7 percent of the domestic compact SUV market, which grew from 28,000 units in 2014 to more than 82,000 units by 2015. As of

Nov. 21, 2024

Hyundai Ioniq 9 debuts as electric SUV with home-like comfort

GOYANG, South Korea -- Hyundai Motor is expanding its electric vehicle lineup with the launch of the Ioniq 9, the company’s first large, all-electric sport utility vehicle. The Ioniq 9 is set to make its official global debut at the Los Angeles Auto Show on Thursday, following an exclusive media preview for South Korean journalists at Hyundai Motorstudio Goyang a day earlier. Originally teased as the SEVEN concept back in 2021, the Ioniq 9 has evolved into a production-ready model designed

Nov. 21, 2024

[KH Explains] Dissecting Hyundai Motor's lobbying in US

Hyundai Motor Group is on track to report record-high spending for lobbying in the United States this year as the Korean auto conglomerate continues to ramp up its presence and influence in Washington, DC According to OpenSecrets, a Washington, DC-based nonprofit, nonpartisan organization that tracks and publishes data on campaign finance and lobbying, Hyundai Motor Company and Kia -- the two automakers under Hyundai Motor Group -- have spent $2.51 million on lobbying in the US as of the third q

Nov. 20, 2024

3 die of suffocation at Hyundai Motor’s Ulsan plant

Three researchers died of suffocation during a vehicle testing at Hyundai Motor Company’s car manufacturing plant in Ulsan, some 300 kilometers southeast of Seoul. According to police officials Tuesday, a man in his 40s, another in his 30s and one unidentified person were found unconscious at 3 p.m., following a vehicle test conducted in the multi-environment chamber within the plant's electrical quality division. The test involves vehicles being exposed to vibration as well as high t

Nov. 19, 2024

Hyundai Mobis eyes 40% of orders from global carmakers

Hyundai Mobis, a car parts manufacturing subsidiary of Hyundai Motor Group, has committed to having global automakers account for 40 percent of its client base by leveraging its advanced automotive technology. “One of our core pillars of a long-term growth strategy is to become the world’s top three auto parts supplier, reducing reliance on Hyundai Motor Co. and Kia," which account for 90 percent of auto parts and system orders, said Axel Maschka, vice president and head of glob

Nov. 19, 2024

Carmakers, battery suppliers vie for leadership in battery management

Battery Management Systems, or BMS, often called the “brain” of an electric vehicle battery, play a crucial role with integrated hardware and software to monitor and control battery cells while safeguarding against potential fires. While battery manufacturers excel in advancing battery technologies, the BMS field has traditionally been a specialized area for automakers, who develop and integrate their own systems into battery modules. However, since a series of EV fire incidents in K

Nov. 19, 2024

LG Energy Solution inks exclusive battery deal with Bear Robotics

LG Energy Solution said Monday it forged an exclusive deal with US-based Bear Robotics to supply its cylindrical batteries, marking a significant expansion into sectors beyond electric vehicles. The battery maker’s 21700 cylindrical cells -- measuring 21 millimeters in diameter and 70 mm in height -- will be installed in Bear Robotics’ service robot “Servi Plus” and logistics robot “Carti.” The financial details of the deal were not disclosed. “This is n

Nov. 18, 2024

[Photo News] Hyundai’s Avante N TCR

Hyundai Motor on Sunday presented a racing car version of its high-performance sedan, the Avante N, based on its years of experience with the Touring Car Racing World Tour. The Avante N TCR has upgraded auto parts, including a carbon swan-neck spoiler with adjustable angles and 19-inch forged wheels, which are maintain high strength at a likght weight. It also features blue – the symbolic color of the N brand – in the steering wheel and first-row seat belts. Slated for debut in Kor

Nov. 17, 2024

Kia scales back on EV9 in US amid tightened IRA rules

Hyundai Motor Group affiliate Kia is reportedly scaling back US production of its ambitious EV9, a large all-electric sport utility vehicle, due to stricter Inflation Reduction Act regulations. According to industry sources Sunday, Hyundai Motor Group’s manufacturing facility in Georgia, which began operation last month, produced 21 EV9s in the third quarter and only one was sold in the US. Given that the EV9’s monthly sales volume is approximately 1,800 units, the US production cons

Nov. 17, 2024

Hyundai Motor appoints 1st foreign CEO

Hyundai Motor Group appointed Jose Munoz, global chief operating officer at Hyundai Motor Co., as the next CEO of the auto brand on Friday, marking the conglomerate’s first-ever appointment of a foreign leader. The appointment is to take effect on Jan. 1. Munoz, a native of Spain and a US citizen, joined the Korean automaker in 2019 and has served as president and global COO of Hyundai Motor Co. as well as president of Hyundai and Genesis Motor North America. “Through strengthening d

Nov. 15, 2024

Hyundai donates EVs to support UN hunger relief with sustainable transport

Hyundai Motor Group has donated eight Ioniq 5 electric vehicles to the United Nations World Food Programme to support its humanitarian missions with cleaner, more sustainable transportation, the automaker said Friday. As the world’s largest hunger-relief organization, WFP is at the forefront of efforts to end food insecurity and malnutrition, particularly in areas affected by conflict and extreme poverty. Through this partnership, Hyundai and WFP aim to make humanitarian aid efforts more e

Nov. 15, 2024

[KH Explains] For Korean automakers, Chinese EVs may loom larger than Trump’s tariffs

Donald Trump’s impending return to the White House has reignited fears of trade protectionism in the global auto industry. But the real question for automakers may not be about tariffs or changes to the Inflation Reduction Act. Trump’s stance on Chinese electric vehicles could have a greater impact, especially as Chinese automakers continue their aggressive push into global markets. For South Korean automakers Hyundai Motor and Kia, who face the mounting pressure of China’s rap

Nov. 14, 2024

[Photo News] Hungarian SK Road

An SK Road sign is posted in Ivancsa, a Hungarian industrial village, in recognition of Korena battery-maker SK On's economic contributions to the region. The newly designated road stretches approximately 1.8 kilometers, connecting the Ivancsa industrial park to SK On’s electric vehicle battery manufacturing plant. SK On has also donated 15 million forints ($39,000) to local communities to help improve the urban environment, upgrade school facilities, revitalize local events and provi

Nov. 14, 2024

Renault Grand Koleos boasts 30% share in hybrid SUVs

Renault Korea’s latest hybrid sport utility vehicle Grand Koleos has seen smooth driving, claiming more than 30 percent market share in its segment as of October. Having debuted in August, the Grand Koleos E-Tech Hybrid sold 5,385 vehicles last month alone, with cumulative sales reaching 9,330. Driven by the new car's transactions, Renault's total sales more than tripled in Korea in October. Renault's upbeat sales come as Korean drivers have shown a growing appetite for hybr

Nov. 13, 2024

BYD to enter Korean passenger car market early next year

BYD will officially enter the Korean passenger vehicle market early next year, the Chinese electric vehicle maker's Korean office announced Wednesday. The announcement came after months of speculation over when BYD would launch its passenger EVs in the Korean market. BYD Korea already entered the commercial vehicle market in 2016 and has released electric buses and trucks here since then. BYD Korea said it has reviewed the feasibility of a passenger vehicle business in Korea over the past f

Nov. 13, 2024

Hyundai to launch AI-powered EV in China next year

Hyundai Motor, in collaboration with Chinese partner Haomo, will launch its first Chinese-market-dedicated electric vehicle equipped with generative artificial intelligence technology next year. “We are working to load the software of Haomo, a local autonomous driving software firm, onto the EV, which will be released in the Chinese market next year,” said a Hyundai Motor official. “The level of autonomous driving is somewhere between 2 and 2.5.” With a scale of autonomou

Nov. 12, 2024

Boston Dynamics robot dog joins Trump’s security detail

Spot, the four-legged robotics dog developed by Boston Dynamics, a subsidiary under Hyundai Motor Group, has reportedly joined the security detail for US President-elect Donald Trump. The $75,000 mechanical canine, bearing a cautionary tag that reads “Do not pet,” was seen patrolling the grounds of Trump’s Mar-a-Lago residence in Palm Beach, Florida. News reports said that the remote-controlled dog is with the US Secret Service. “We do not have specific details on Boston

Nov. 12, 2024

Hyundai’s Atlas robot takes the spotlight as Tesla's Optimus stumbles

Hyundai-owned Boston Dynamics has been making headlines with the latest developments in its humanoid robot, Atlas. In recent promotional videos, the all-electric version of Atlas is shown performing complex tasks in a simulated factory environment, suggesting that the company may be closer than ever to deploying humanoid robots in industrial settings. This unveiling comes about a month after Tesla demonstrated its own humanoid robot, Optimus, at the company's "We, Robot" event, wh

Nov. 12, 2024

[From the Scene] How BMW’s growing Korea parts hub gets repairs done faster than ever

ANSEONG -- In South Korea, BMW drivers benefit from a parts delivery system that’s hard to beat. Need a part? If the order is placed in the morning, it’ll arrive at the dealership by 5 p.m. the same day. Order it in the afternoon, and it’s there by 7 a.m. the next morning. This rapid response is powered by BMW’s Anseong Regional Distribution Center, a logistics hub located about 80 kilometers south of Seoul, dedicated to keeping BMWs on the road with minimal downtime. Fir

Nov. 11, 2024