By Baek Byung-yeul
With Hyundai Motor and LG Energy Solution (LGES) deciding to replace battery packs for the former s 82,000 electric vehicles (EVs) including the Kona EV, it appeared that the two companies have not reach an agreement over how they will share the recall expenses estimated at around 1 trillion won ($892 million).
According to the battery industry, Monday, no progress has been made yet about how much cost they will incur, and given the sensitivity of the matter, attention is growing on whether the two companies will seek legal remedies to minimize impact.
The recall announcement comes after Hyundai Motor announced its first recall of 77,000 Kona EVs four month ago as more than 10 of the cars were reported to have caught fire both here and abroad.
Hyundai unveils new electric crossover Ioniq 5
By (0)
Hyundai Motor’s Ioniq 5 electric vehicle was introduced during an online event on Tuesday. Photo courtesy of Hyundai Motor
SEOUL, Feb. 24 (UPI) Hyundai Motor has unveiled its new all-electric vehicle, the Ioniq 5, a midsize crossover that will be the first to use the automaker s own battery electric platform.
Hyundai aims to launch 12 new electric vehicles by 2025.
Advertisement
The Ioniq 5, unveiled Tuesday, can go 300 miles on a single charge, the company said, adding that it takes less than 20 minutes to charge from 10 percent to 80 percent. Five minutes of charge can power a 60-mile trip.
By Nam Hyun-woo
As Hyundai Motor Group announces its acquisition of robot company Boston Dynamics, attention is on how the automotive giant will unfold its robot business.
Hyundai Motor Group said the acquisition will help the conglomerate take an early lead in forthcoming competition between robot makers and quickly grow its robot business from a promising prospect to a major revenue source in the near future.
Hyundai Motor Group announced on Friday it agreed to acquire a controlling 80 percent stake in Boston Dynamics from SoftBank Group. SoftBank will hold the remaining 20 percent and a put option to sell the remainder in the future. The total value of the deal is estimated to reach $880 million.