Hyundai Motor Group pulled in an all-time high annual operating profit of 26.7 trillion won ($20 billion) last year, outpacing Samsung Electronics, which held the No. 1 position among the listed companies in Korea for 14 consecutive years, for the first time. Hyundai Motor Company saw a 15.1 trillion won record profit in 2023, a 54 percent jump from the earlier year with a 9.3 percent operating profit margin, while i.
Hyundai Motor Group and Korean battery manufacturers called for leniency in the US electric vehicle tax credit rules blocking battery sourcing from foreign adversaries including China, according to the Federal Register. In public comments submitted to the open-access website for US federal government documents on Thursday, Hyundai said, “It is unlikely that other countries will be able to replace China in the s.
With the yearslong electric vehicle boom showing signs of dying down, hybrid cars using a combination of electric and gasoline power are seeing a boost in sales in Korea. In the January-November period of 2023, Korea sold a record 254,258 hybrid cars, growing 54.7 percent from a year earlier, while EV sales dipped 7.9 percent to 107,453 units, according to data from the Korea Automobile Manufacturers Association. Bes.
SEOUL (ANN/THE KOREA HERALD) – Long a fantasy in sci-fi, flying cars are becoming a reality for Hyundai Motor Group. Supernal, their US-based advanced air mobility company, is set to unveil a life-size eVTOL model at CES 2024. The AAM firm will showcase its vision and strategies at the world’s largest tech exhibition, offering a […]
Hyundai Motor Group said Tuesday it has decided to sell its entire shares of its car manufacturing plant in Russia, which has been temporarily shut down because of Russia's invasion of Ukraine, to a Moscow-based company, ending a decadelong operation. The carmaker’s board of directors approved selling Hyundai Motor Manufacturing Russia in St. Petersburg, along with a General Motor plant it acquired in 2020.