Trump’s 145% tariff on Chinese batteries opens door for Korean rivals

South Korean battery manufacturers are set to benefit from the 145 percent tariff imposed by the second Donald Trump administration in the US on Chinese-made goods, including lithium-ion batteries for energy storage systems. This significant tariff hike aims to curb the competitive edge of Chinese batteries, which previously capitalized on lower levies than electric vehicle cells. On April 10, the White House said that the 125 percent tariffs on Chinese imports would rise from 34 percent to 125

April 22, 2025

[Photo News] Hyundai EV buses for Japan’s UNESCO island

From left: Choi Nam-il, vice president of Hyundai Motor Company; Toshiyuki Shimegi, CEO of Hyundai Mobility Japan; Park Sang-hyeon and Chung Yoo-seok, executive vice presidents of Hyundai Motor Company; Chang Jae-hoon, vice chair of Hyundai Motor Group; Yoshitaro Iwasaki, CEO of Iwasaki Group; Takamitsu Iwasaki, vice president of Iwasaki Group; Koji Araki, mayor of Yakushima; and Masao Nishimura, CEO of Iwasaki Corporation, pose for a photo on the resort island of Yakushima in Kagoshima, Japan,

April 21, 2025

New alliances: Hyundai, Posco team up on steel, batteries to tackle US tariffs

Hyundai Motor Group and Posco Group, longtime industry rivals, have joined forces in a strategic alliance abroad, specifically in the US, a key market pressured by steep 25 percent tariffs on steel and automobiles. Hyundai Motor said Monday that it aims to create synergy with the steelmaker by securing a supply chain for key raw materials for electric vehicle batteries. Meanwhile, Posco seeks to create a foothold in the North American market, where the auto giant plans to set up a new auto steel

April 21, 2025

Kia wins World Car of the Year for 2nd consecutive year

Kia has once again claimed the automotive throne this year, winning top honors at the 2025 World Car Awards for the second year in a row. The Korean automaker’s EV3, an electric compact sport utility vehicle, was named the World Car of the Year at the New York International Auto Show last week. It received an overall score of 780 points to beat out the two other top contenders -- the Hyundai Casper Electric with 764 points and the BMW X3 with 754 points. According to the World Car Awards committ

April 20, 2025

Hyundai Motor rolls out stronger, more efficient hybrid system

Hyundai Motor has unveiled a next-generation hybrid system as the automaker aims to strengthen its market presence by offering better hybrid vehicles to customers across the globe. At a media showcase held at Crest 72 in central Seoul on April 10, Hyundai Motor presented full-scale models of the new system, emphasizing that it can be combined with different engines to offer optimized performance and fuel efficiency tailored to fit the characteristics of various vehicles, and cover the output bet

April 20, 2025

Hyundai Motor to halt Ioniq 5, Kona EV production again over weakening overseas demand

Hyundai Motor will temporarily suspend production of its Ioniq 5 and Kona electric vehicles (EVs) at its main domestic plant next week, as weakening overseas demand continues to weigh on exports, according to industry sources Thursday. The automaker plans to shut down Line 12 at its Plant 1 in Ulsan, 305 kilometers southeast of Seoul, where the two EV models are assembled, from April 24-30, citing declines in orders from key export markets, including Europe, Canada and the United States. The dro

April 17, 2025

Hyundai, Kia sweep 2025 World Car Awards

Hyundai Motor Company's Casper Electric and Kia's EV3 on Thursday won World EV of the Year and World Car of the Year, respectively, at the 2025 World Car Awards, marking four consecutive years of recognition for the brands’ EV fleet. With this achievement, Hyundai Motor Group has won the top honor, World Car of the Year, five times over the past six years, starting with the Kia Telluride SUV in 2020. The automaker’s electric vehicles then went on to claim the title for four years straight with t

April 17, 2025

Genesis unveils new electric off-road SUV

Hyundai Motor Group’s premium brand Genesis unveiled the X Gran Equator Concept, a first electric off-road sport utility vehicle, at the Genesis House New York on Tuesday, as the carmaker continues to expand its portfolio. “The X Gran Equator Concept is an exercise in harmonizing contrasts, combining elegance with ruggedness, and the spirit of exploration with refined comfort,” said Luc Donckerwolke, chief creative officer of genesis. “It represents the orchestration of true off-road competence

April 16, 2025

Volkswagen Financial Services Korea taps Jussi Lehtimaeki as new CEO

Volkswagen Financial Services Korea, the financial arm of the Volkswagen Group in Korea, announced Wednesday the appointment of financial expert Jussi Lehtimaeki as its new CEO. With over 32 years of experience at the Volkswagen Group since joining in 1992, the new CEO has led the group's finance and mobility-related operations in Sweden, Greece, China and Russia, establishing himself as a proven executive in the automotive finance sector. Most recently, he served as managing director of Volkswa

April 16, 2025

GM rolls out new Cadillac Escalade amid Korea exit rumors

GM Korea on Wednesday unveiled the all-new Cadillac Escalade, the latest model from the US carmaker, amid persistent rumors of its possible withdrawal from the Korean market, which has been hit hard by US tariffs. “We do not intend to respond to rumors about the company’s exit from Korea,” said Gustavo Colossi, vice president of the sales, service and marketing division at GM Korea, during a press conference held in Gwangmyeong, Gyeonggi Province. “We plan to move forward with our sales strategi

April 16, 2025

Hyundai Motor taps ex-congressman to lead Washington office amid trade tensions

Hyundai Motor Group said Tuesday that it has appointed Drew Ferguson, a former four-term Republican congressman from Georgia, as the head of its Washington office, as part of a strategic move to navigate looming hefty automotive tariffs in the US. Effective May 1, Ferguson will assume the role of senior vice president of government affairs at Hyundai Motor Group, where he will represent the auto giant’s interests and actively engage with the US government and Congress. The group previously did n

April 15, 2025

Hyundai Motor to convert Indonesian landfill waste into hydrogen

Hyundai Motor will initiate its first overseas project to produce hydrogen from waste in Indonesia as it aims to build a hydrogen ecosystem in the Southeast Asian nation in collaboration with local partners, the Korean auto conglomerate said Tuesday. Hyundai Motor unveiled its plan to utilize the biogas extracted from the Sarimukti landfill near Bandung in West Java to produce hydrogen and carry out what it calls the Waste-to-Hydrogen, or W2H, solution. The Sarimukti landfill processes about 80

April 15, 2025

Auto exports edge up in March despite falling demand for eco-friendly cars

South Korea's car exports inched up from a year earlier in March, driven by rising demand from Asian nations, data showed Tuesday. The value of outbound shipments of automobiles came to $6.24 billion last month, up 1.2 percent from a year earlier, according to data from the Ministry of Trade, Industry and Energy. It marked the second consecutive month of increase and the second-highest export value ever for any March, it added. In terms of volume, however, exports fell 2.4 percent on-year to 240

April 15, 2025

Hyundai Mobis develops fire-suppressing EV battery system

Hyundai Mobis, the auto parts manufacturing arm of Hyundai Motor Group, said Monday it developed advanced technology that effectively prevents electric vehicle battery fires, the first of its kind to be incorporated into mass-produced vehicles. Hyundai Mobis said the new battery system will significantly reduce the fear of EV fires. Although the specifics, including the timeline for implementing the technology in Hyundai Motor Company and Kia vehicles, remain undisclosed. The new fire-suppressin

April 14, 2025

Hyundai Motor, Kia post all-time high Q1 sales in India

Hyundai Motor Company and Kia achieved record-breaking quarterly sales in the January-March period in India, the world’s third-largest automotive market after China and the US. According to data from the Society of Indian Automobile Manufacturers, Hyundai Motor and Kia respectively sold 153,550 and 75,576 vehicles in the first three months of 2025, reaching a combined total of 229,126. This marks a 1.5 percent increase over last year’s 225,686 vehicles sold. Notably, Kia set an all-time high rec

April 13, 2025