Kia posted a record third quarter sales revenue this year, driven primarily by aggressive sales of ecofriendly vehicles, expanding its market presence in key global markets, including the US, despite the downturn in industry demand. In a quarterly earnings release on Friday, Kia said in the July-September period, its revenue rose 10.1 percent to 31.6 trillion won ($23.69 billion). It marked the highest third-quarter figure on record. The increase was largely driven by rising sales of hybrid elec

Hyundai Motor Group is accelerating its AI data center project in Korea — a key driver for its physical AI capabilities — with the HMG Saemangeum Office in Gunsan, North Jeolla Province, set to spearhead the initiative. The company said Friday it held a signboard unveiling ceremony for the Saemangeum office, attended by key figures, including Shin Seung-kyu, vice president of Hyundai Motor Group' Robotics and Hydrogen Project Management Office, Gunsan Mayor Kim Jae-jun and Saemangeum Development

South Korea's battery industry is showing early signs of recovery as stalled electric vehicle projects resume and growing demand for energy storage systems helps offset a slowdown in the US EV market, a leading industry executive said Thursday. Eom Ki-cheon, chairman of the Korea Battery Industry Association and CEO of Posco Future M, said global EV projects began restarting late last year, raising hopes of a gradual rebound across the battery supply chain. Speaking to reporters ahead of Korea B

SK Innovation posted record operating profit in the third quarter, fueled by soaring refining margins amid Middle East tensions and an unprecedented earnings surge at its lubricants business. The South Korean energy giant said Thursday its quarterly operating profit jumped 532.5 percent on-year to 3.07 trillion won ($2.3 billion) in the July-September period, while revenue climbed 39.7 percent to 28.77 trillion won. The standout performer was lubricants subsidiary SK Enmove, which generated a re

YONGIN, Gyeonggi Province — Emerging automakers, particularly Chinese electric vehicle brands, are rapidly expanding their presence in South Korea. But Mercedes-Benz Korea bets on its two decades of technician training and rigorous German certification standards to defend its position in the market. Establishing retail networks may be relatively straightforward, but building a reliable after-sales service infrastructure is a far greater challenge for newcomers. At the HS Hyosung The Class Jukjeo

Hyundai Motor and its labor union agreed to reduce planned US production relocation to 74,000 units from its Ulsan plant to secure domestic employment, resolving monthslong negotiations over facility reconstruction. According to media reports Monday, Hyundai’s management and its union signed an agreement outlined by the employment stability committee, mapping out volume transfer and workforce relocation tied to the reconstruction of Ulsan plant one and line two of plant four. A primary focus of

Chinese automakers are turning Europe from an export market into a manufacturing foothold, building factories and joining forces with established rivals to overcome trade barriers and challenge the region's automotive giants. Facing fierce competition and overcapacity at home, companies including BYD, Chery and Geely are moving production closer to European customers. Their strategy goes beyond avoiding EU tariffs: By taking advantage of underused factories and local partnerships, they are posit

Hyundai Motor Group is consolidating its ground weapons businesses under Hyundai Rotem, bringing tank and artillery production together in a 358.4 billion won ($269.9 million) deal aimed at strengthening its competitiveness in the global defense market. Hyundai Rotem said Monday it had acquired Hyundai WIA’s defense division, bringing production of the K2 Black Panther tank’s main gun in-house. Until now, Hyundai Rotem has manufactured the tank while Hyundai WIA supplied its 120-millimeter main

Mercedes-Benz is ramping up its electrification push in South Korea, with the debut of the all-new electric CLA sedan and GLC SUV in the country’s fiercely competitive electric vehicle market. Speaking at a press briefing at the company’s Seongsu-dong studio in Seoul on Monday, Mercedes-Benz Korea CEO Shirin Emeera highlighted both models as a pivotal turning point in the brand’s electrification journey, noting they are the first to feature its new purpose-built EV architectures. The all-new ele

PUNE, India — Hyundai Motor's newly opened plant in Pune is raising hopes of a sales rebound in India, where the Korean automaker is looking to regain market share as younger, tech-savvy consumers reshape demand. Hitesh Chadha, director of Kundan Hyundai, a major Pune dealership, said the added production capacity could strengthen Hyundai's appeal among Indian buyers while supporting SUV and electric-vehicle sales. "As we have enhanced capacity, now people feel more connected … and feel that Hyu

Kia has launched Korea’s first car-sharing trial using remote vehicle operation, aiming to assess its commercial viability and accelerate next-generation mobility solutions. The program began Thursday for employees of businesses in the Second Pangyo Techno Valley, using its PV5 model. Operations will continue through the end of the year. Customers reserve a vehicle through a dedicated app, prompting it to travel to their requested location without a driver. The customer then drives the vehicle t

PUNE, India — Hyundai Motor Group will allocate 60 percent of its planned $15.5 billion investment in India to expanding manufacturing capacity, with the remainder going toward emerging technologies, research and talent development, as the Korean auto giant steps up its push in one of the world's fastest-growing car markets. Vice Chair Chang Jae-hoon outlined the investment breakdown Wednesday following the inauguration of Hyundai Motor's new Pune plant, saying 20 percent would go toward technol

PUNE, India — Yellow robotic arms swing, twist and weld steel car bodies in synchronized movements at Hyundai Motor's new plant in Pune, western India. Nearby, laser scanners sweep across doors and hoods, checking for defects with precision beyond the human eye. The factory floor is a striking departure from what stood here just a few years ago. When General Motors shut down the facility in 2020 and exited India, it left behind a largely manual assembly plant with just six welding robots. The si

PUNE, India — Hyundai Motor is stepping up its India expansion with a new factory in Pune, bringing its annual production capacity in the country close to 1 million vehicles, as the South Korean automaker strengthens its foothold in the world's third-largest auto market. Built on the site of a former General Motors plant acquired in 2023, the facility is central to Hyundai's strategy to make India both a major production base for domestic sales and an export hub serving emerging markets. The exp

NEW DELHI — Hyundai Motor Group is investing $15.5 billion in India over the next seven years, as the Korean auto giant moves to create a major production and export hub in the world's third-largest auto market. Executive Chair Chung Euisun outlined the commitment during talks with Indian Prime Minister Narendra Modi in New Delhi on Tuesday, unveiling plans to expand vehicle production, strengthen research and development and broaden supply chains through 2032. The meeting, their eighth, undersc