Hyundai-Kia climb to top credit ranks among global automakers

Hyundai Motor Company and Kia have just secured their place among the world’s most financially sound automakers. According to industry sources Monday, both companies received A ratings from the world’s three major credit rating agencies -- Moody's, S&P and Fitch. This positions Hyundai and Kia alongside just three other automakers -- Mercedes-Benz, Toyota and Honda -- that have earned A ratings from all three major credit rating agencies. Credit ratings from these agencies i

Aug. 26, 2024

[Test Drive] Audi's A7 PHEV, an all-around beauty

The popularity of hybrid vehicles has been gaining steam in South Korea as the country is still in an early phase of adapting electric vehicles. Audi’s A7 55 TFSI e quattro Premium, an upgraded plug-in hybrid vehicle, offers an ideal choice for drivers seeking comfortable city driving on electricity and sporty maneuvering on highways. Measuring at a length of 4,975 millimeters, a wheelbase of 2,926 mm, a width of 1,910 mm and a height of 1,425 mm, the A7 PHEV looks longer, wider and lower

Aug. 25, 2024

Renault Grand Koleos boasts extensive safety features

Renault Korea’s Grand Koleos stands out as a mid-size hybrid sport utility vehicle with extensive safety features, including numerous advanced driving assistance systems and high-strength materials. This vehicle has gained attention in the Korean market since its June debut, particularly for its robust safety features, which have become increasingly important to consumers amidst rising concerns over road safety. The Grand Koleos comes in three trims: Techno, Iconic and Esprit Alpine. Even

Aug. 25, 2024

[Test Drive] Casper Electric: a small, yet full package

The Casper Electric, Hyundai Motor’s newest all-electric sub-compact sport utility vehicle, might look unassuming but it wins consumers' hearts with a big surprise inside. The Korea Herald got to check out the EV model of the Casper, known as the Inster in overseas markets, in a test drive in Seoul and Gyeonggi Province on Wednesday. The first impression of the EV was the distinguished adorableness featuring harmless-looking circular headlights with pixel-style eyebrows on the front s

Aug. 22, 2024

Porsche unveils K-edition Taycan in Seoul

Porsche Korea launched the new Taycan on Thursday, the brand’s upgraded all-electric sports sedan, as the German sports car-maker aims to keep building on the success of the EV here. “Since (the Taycan’s) launch in 2020, the demand for (our) first fully electric sports car has exceeded our expectations,” said Holger Gerrmann, CEO of Porsche Korea, during the launch ceremony at Grand Hyatt Seoul. “Last year, the Taycan accounted for a 16 percent share of sales as the

Aug. 22, 2024

Hyundai Motor previews new tech to beat heat waves

Amid one of South Korea’s hottest summers on record, Hyundai Motor Group hosted the Heat Tech Day event on Thursday in Seoul to preview three advanced climate control technologies to improve passenger comfort in both scorching summers and harsh winters. The three technologies introduced at the event include a nano-cooling film that significantly lowers cabin temperatures during the summer, a radiant heating system that quickly warms passengers in winter and a metal-coated heated glass that

Aug. 22, 2024

LG Energy Solution to expand battery safety software business

LG Energy Solution said Wednesday it is expanding its battery safety diagnostic software business in response to the rising demand from electric vehicle manufacturers for more advanced safety measures. "With the recent EV fires, automakers are under pressure to enhance battery safety, but developing reliable diagnostic software is both complex and resource-intensive. LG Energy Solution is in a strong position here -- we have the diagnostic capabilities, the patents, and the real-world data.

Aug. 21, 2024

KG Mobility to sell new Actyon SUV on Naver shopping platform

Korean sport utility vehicle dark horse KG Mobility (KGM) unveiled a refreshed brand strategy Tuesday as it launched its new SUV Actyon, with eyes set on expanding its presence in the global market. “KG Mobility has a history that always pursued being the first during its 70-year-long history, including the launch of the Korando and Musso -- the beginnings of traditional SUVs -- and the Chairman, Korea’s first luxury sedan,” said KGM Chairman Kwak Jea-sun during a media event a

Aug. 20, 2024

[Herald Interview] Jeep Avenger looks to repeat European success in Korea

Jeep is launching its first all-electric vehicle, the Avenger, in Korea next month. “The Avenger was the first Jeep nameplate offered with an all-electric power train. It marks the Jeep’s brand entrance in the (battery electric vehicle) arena in Korea,” said Matt Nyquist, vice president of global product planning at the Jeep brand, in an online interview with a group of reporters Tuesday. The Jeep official pointed out that the country’s sports utility vehicle segment was

Aug. 20, 2024

Ford halts Quebec battery plant project with SK, EcoPro

Construction of a cathode material plant in Becancour, Quebec -- a joint venture between Korea’s EcoPro BM, SK On, and US automaker Ford -- has been halted for the second time this year, amid growing uncertainty surrounding Ford’s electric vehicle strategy. The plant's construction began in August last year and was initially paused in April this year due to issues with selecting a contractor and finalizing the facility’s design. At the time, Francois Legault, the Premier o

Aug. 19, 2024

Hybrid vehicles report fewest fire incidents: data

Statistics from the National Fire Agency showed Sunday that hybrid vehicles reported the fewest fire incidents over the last five years, as fears related to battery-electric vehicles spread across Korea following the recent EV fires that occurred earlier this month. According to the fire authority’s fire incident status by vehicle type, there were 131 fire cases among hybrid vehicles, which are powered by both an internal combustion engine and an electric motor. As the accumulated number o

Aug. 18, 2024

Korea sees panic selling in used EVs

A mass sell-off of EVs has begun in South Korea, following a fire involving a Mercedes-Benz EV in Incheon that destroyed more than 140 cars and sparked proposals to restrict EVs' access to underground parking lots. Since the fire on Aug. 1, the market has been flooded with used EVs. K Car, Korea’s second-largest used car trading platform, reported an 184 percent increase in used EV listings in the first week of August compared to the final week of July. The Mercedes-Benz EQE series, w

Aug. 16, 2024

Hyundai, Kia report zero EV fires from overcharging

Hyundai Motor and Kia on Thursday said there had been no fire incidents due to overcharging their electric vehicles as the automakers emphasized the safety of their battery management system, or BMS, in the wake of consecutive EV fires spreading fears across Korea. The companies dismissed the claims that point fingers at overcharging behind the reason for EV fires, explaining that the BMS closely monitors an EV’s charging status in real-time and works in conjunction with the charging contr

Aug. 15, 2024

Tesla Korea keeps mum about battery suppliers

Tesla, the biggest electric vehicle importer in Korea, is keeping mum about releasing the information about their cars’ battery makers despite the government’s recommendation to do so following a recent series of EV fires. After two EV fires -- one in a Mercedes EQE and the other in a Kia EV6 -- broke out earlier this month, the government on Tuesday decided to recommend domestic automakers and importers to disclose the information of their battery suppliers. Korean automakers Hyunda

Aug. 15, 2024

[KH Explains] Are China-made batteries being fairly criticized for Mercedes EV fires in Korea?

“Our Mercedes-Benz customers are upset, and some are canceling their EV reservations. They’re saying, ‘How can you use cheap Chinese batteries in a luxury car?’ They’re angry because they feel betrayed,” said a manager at a Mercedes-Benz dealership in Korea. This backlash stems from the revelation that the battery in a Mercedes electric vehicle that led to a major fire in an Incheon apartment underground parking lot on Aug. 1 was made by Farasis Energy, a rela

Aug. 14, 2024

Carmakers advised to disclose battery suppliers in EVs

The Korean government will issue an advisory urging every electric vehicle automaker in Korea to disclose battery manufacturers and offer free inspections to owners, in response to rising concerns about EV safety following a ravaging fire in an underground apartment parking lot in Incheon. The government held a high-level meeting Tuesday, chaired by Bang Ki-sun, minister of government policy coordination, with vice ministers from key ministries, including Interior and Safety, Industry, Environme

Aug. 13, 2024

Hyundai, Kia to offer free EV safety inspections

Hyundai Motor Company and Kia have announced a free inspection service for all owners of their electric vehicles, responding to heightened safety concerns following a recent apartment fire in Cheongna International City, Incheon earlier this month. The inspection service, already underway since Aug. 8 for Hyundai and Aug. 9 for Kia, aims to reassure customers by thoroughly checking the safety of their vehicles. Hyundai and Genesis owners can access inspections at 22 premium High Tech and 1,234 a

Aug. 13, 2024

Polestar 4 signals premium EV expansion in Korea

Polestar Korea has launched the Polestar 4, the Swedish electric-vehicle maker’s coupe-style sports utility vehicle, seeking a breakthrough amid the ailing EV market with the new model. “The Polestar 4 boasts an overwhelming performance, design, interior space and outstanding price when compared to other vehicles in the same segment, including those with internal combustion engines. It will be able to breathe a fresh breeze into the domestic premium EV market,” said Ham Jong-su

Aug. 13, 2024

Mercedes-Benz Korea responds to EV fire with supplier list, free inspections

Mercedes-Benz Korea on Tuesday revealed the battery suppliers for all its electric cars sold here on its official Korean website and announced free inspections for all EV owners to address mounting safety concerns in the wake of a devastating fire in Incheon involving one of its electric vehicles. This announcement comes 12 days after the fire and follows similar actions taken by domestic automakers Hyundai Motor Company and Kia, both of which recently disclosed their EV battery suppliers. BMW K

Aug. 13, 2024

[Photo News] Hyundai Motor's e-paper ID cards

Hyundai Motor Company has developed an eco-friendly e-paper ID card for employees to replace plastic-based radio frequency cards. This card uses an LCD display and electronic ink, allowing for updates to user information like names and photos as needed. The card also enhances security by signaling unauthorized access with color changes and alarms and providing an SOS function for emergencies. The carmaker plans to implement this technology across its global operations. (Hyundai Motor Company)

Aug. 13, 2024