Urban Mobility
Korea’s 1,079 automobile companies saw their average operating profit-to-sales ratio stand relatively low at 5 percent. In other words, they gained a profit of 5 won by selling 100 won worth of goods. In addition, one out of the nation’s five auto-related firms has higher than 400-percent debt-to-equity ratio. The Korea 20,000 Corporate Research Institute announced on August 17 that
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PRNewswire/ — BorgWarner provides its latest variable turbine geometry (VTG) turbocharging technology for a wide range of Euro 6 diesel engines used for numerous Hyundai and Kia models of the Hyundai Motor Company worldwide. “BorgWarner values its long-standing partnership with the Hyundai Motor Company and we are very proud to extend our cooperation by providing our latest VTG turbochargers, which improve
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South Korea has announced stricter emissions standards for vehicles starting next year, as part of efforts to clean up the air in its major cities. The Ministry of Environment said Thursday that old diesel-powered vehicles weighing 2.5 tons or more will be banned from Seoul if they aren’t equipped with an emission-reducing device or a low-pollution engine. The ban will
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South Korea today suspended sales of most Volkswagen AG models in a fresh blow to the German automaker as it struggles to overcome the global repercussions of its emissions-test cheating scandal and rebuild its tattered image. The government revoked certification for 80 model variants of VW, Audi and Bentley vehicles, and fined Volkswagen 17.8 billion won ($16.06 million) for allegedly
Read moreIran Khodro Co., an automaker based in Tehran, is reportedly in discussions with LG Chem to provide battery cells for its upcoming plug-in electrified vehicles (PEVs). Iran Khodro’s CEO Hashem Yekke-Zare, says that “negotiations are underway” and that a deal may be struck as soon as this fall. Iran Khodro plans to produce 60,000 PEVs by 2023, and LG Chem
Read moreJust within 10 years, six Chinese car brands came to Vietnam through different ways. They are either imported to Vietnam under the mode of complete built units (CBU) or assembled in Vietnam by joint ventures between Vietnamese and Chinese manufacturers. Chinese cars tried to conquer Vietnamese hearts thanks to their low prices, positioned as the cheapest car products in the
Read moreRenault Samsung Motors said on July 25 it will produce next-generation engines for Renault and Nissan vehicles at its Busan plant. The Korean unit of France’s Renault Group had been competing with other overseas plants of the Renault-Nissan Alliance, including those in China and Japan, to host the strategic partner firms’ new engine production facilities. The company said it could
Read moreThe 14th round of wage negotiations between Hyundai Motor and its labor union held Thursday failed, and a strike by workers will continue. Management and the union had hoped to settle the labor dispute before the approaching holiday season, which begins next month. The negotiation, which began at 2 p.m. at the auto company’s Ulsan headquarters, was attended by Hyundai
Read moreSouth Korea’s POSCO, one of the biggest steel-making company in the world, has reportedly signed an important memorandum of understanding (MOU) to supply Tesla’s Model 3 program with steel for the upcoming vehicle’s A pillars, which support both sides of the front windshield. and potentially more parts to come. While Tesla’s two current vehicles, the Model S and Model X,
Read moreVolkswagen AG is suspending sales of its cars implicated in an emissions scandal in South Korea, in effect stopping all its marketing activities in the country. In a recent letter to local dealers, Audi Volkswagen Korea Co., the Korean unit of the German auto maker, said it would stop delivering 79 models of 34 vehicle types starting Monday. The suspension,
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