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Hyundai Motor said Dec. 11 it will supply more than 1,200 Sonata gasoline hybrid sedans as taxis to Dubai next year. The company has signed deals with the Dubai Taxi Corp. and Cars Taxi to deliver a combined 1,232 Sonata hybrid taxis to the companies by the end of 2020, the company said in a st...
The number of executives at South Korea’s top 30 conglomerates fell 0.5 percent compared to 2015, amid a slowing economy, data showed Dec. 11. The data compiled by CEOScore, a research firm that tracks conglomerates, showed that the number of executives at 262 companies affiliated with the con...
Hankook Tire & Technology said Dec. 10 it began to supply tires for Audi’s SQ8 TDI SUV in October. The company supplies the high-performance Ventus S1 evo 3 SUV tires for the high-performance SQ8 TDI SUV in the form of original equipment tires, the company said in a statement. It didn’t g...
Some 80 percent of firms listed on the local stock market expect their earnings to improve in the current quarter compared to a year, data showed on Dec. 10. According to the data compiled by market tracker FnGuide, combined operating profit of the 217 companies listed on the main bourse was es...
Celltrion announced on Dec. 9 that it has disclosed its biosimilar Truxima’s results of phase 3 clinical trial at the 2019 annual meeting of the American Society of Hematology last week. “The clinical trials were conducted among patients in European countries including Germany, Spain and Russia ...
Hanwha Systems, the defense industry unit of Hanwha Group, said Monday it has partnered with a US innovation platform to explore joint business opportunities. The company has signed a “strategic partnership” with Plug and Play, the world’s leading innovation platform for startups and corpora...
Electric vehicle models reached over 40 percent of Hyundai Motor and Kia Motors’ environmentally friendly vehicle sales in the January-October period, an automobile association said Dec. 9. In the first 10 months, Hyundai and Kia sold a combined 291,237 eco-friendly models in global markets, a...
Hanwha Systems announced on Dec.8 that its $25 million investment in US-based air taxi startup Overair has got final approval from authorities. The two companies plan to jointly develop personalized aerial vehicles following the US Committee on Foreign Investment’s greenlight. Overair, previousl...
More than a half of new cars manufactured by South Korean carmakers Hyundai and Kia sold in US were sport utility vehicles, reaching the highest mark since its operation in the world’s second-largest auto market, the companies said Dec. 8. Of the 1.2 million vehicles Hyundai and its sister compan...
Korean cosmetics startup MBX, which recently switched the company’s name and branding from Memebox, announced on Dec. 6 that it would launch a new skincare brand with US-based multi-brand cosmetics store operator Sephora. “We were able to stay tight with Sephora as we understand the demands of t...
SK Innovation said Dec. 5 that it has built its first electric vehicle battery cell manufacturing plant in China. The completion ceremony for BEST -- a joint venture established by SK Innovation, Beijing Automotive Group and Beijing Electronics -- in Changzhou in the eastern Chinese province of...
SK Innovation said Dec. 4 it has signed a six-year deal with Swiss-based Glencore PLC to secure supplies of cobalt, a key material used in EV batteries. Under the agreement, SK Innovation will receive a total of 30,000 tons of cobalt, which is enough to make batteries for 3 million EVs, from Sw...
Imported car sales in South Korea rose 14 percent on-year last month, helped by new models, industry data showed Dec. 4. The number of newly registered foreign vehicles rose to 25,514 units in November, up from 22,387 a year earlier, the Korea Automobile Importers & Distributors Association sai...
Hyundai Motor said Dec. 4 it will invest 61 trillion won ($51 billion) in its core automobile and future mobility businesses by 2025. The decision is designed to enhance the competitiveness of its existing car manufacturing business and generate new business opportunities by investing in future...
Doosan Bobcat said Dec. 3 it will acquire the zero-turn mower business of US grounds care equipment manufacturer Schiller Grounds Care. Under the agreement, Doosan Bobcat will acquire Schiller Grounds Care’s manufacturing facility in Wisconsin and its three brands of grounds care equipment -- ...
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