Powered by: Motilal Oswal

News

Hyundai to utilise $5.9 bn in overseas operations' money for EV investments  Hyundai Motor Group said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward the group's planned investments in domestic electric vehicle (EV) plants. Hyundai Motor, its smaller affiliate Kia and auto parts maker Hyundai Mobis will receive $2.1 billion, $3.3 billion and $200 million, respectively, from their operations in the US and Europe in the form of dividends, the group said in a statement. H...
Hyundai to utilise $5.9 bn in overseas operations' money for EV investments
Hyundai to utilise $5.9 bn in overseas operations' money for EV investments
Source: IANS
12/06/2023 5:02:21 PM
Hyundai, Kia agree to $200 mn settlement over TikTok car theft challenge Hyundai and Kia have agreed to a $200 million settlement to resolve class-action litigation with owners of certain Hyundai and Kia vehicles without push-button ignitions and immobilising anti-theft devices, or so called "Kia Challenge" on TikTok. Hyundai Motor America and Kia America said in a statement they will provide cash compensation as part of the agreement to customers who incurred theft-related vehicle losses or damage not covered by insurance, in addition to reimbursemen...
Hyundai, Kia agree to $200 mn settlement over TikTok car theft challenge
Hyundai, Kia agree to $200 mn settlement over TikTok car theft challenge
Source: IANS
19/05/2023 10:24:29 AM
Kia to build new Electric Vehical plant in Mexico, likely to invest $1 bn Automaker Kia will build a new electric vehicle (EV) plant in northern Mexico, a Mexican governor said on Tuesday. While he did not elaborate on the details, like what models will be manufactured in a new plant, the governor uploaded a photo of Kia's EV9 SUV. He originally said an estimated investment could reach around $1 billion but later deleted the part from the post. "More good news! Nuevo Leon consolidates as the ELECTROMOBILITY HUB: KIA once again bets on Nuevo Leon with...
Kia to build new Electric Vehical plant in Mexico, likely to invest $1 bn
Kia to build new Electric Vehical plant in Mexico, likely to invest $1 bn
Source: IANS
16/05/2023 3:49:31 PM
Hyundai, SK On to build $4.9 bn EV battery plant in US  Hyundai Motor Group said on Tuesday it will build a 6.5 trillion-won ($4.9 billion) electric vehicle (EV) battery plant in the United States with SK Group's battery unit SK On. Hyundai Motor Group's three major affiliates -- Hyundai Motor, Kia and Hyundai Mobis -- approved the investment plan at their separate board meetings held Tuesday. SK On plans to hold a board meeting to approve the plan on Thursday. Under a 50:50 joint venture, Hyundai Motor Group and SK On plan to ...
Hyundai, SK On to build $4.9 bn EV battery plant in US
Hyundai, SK On to build $4.9 bn EV battery plant in US
Source: IANS
25/04/2023 3:10:15 PM
South Korean carmakers` global market share falls to 7.3% in 2022 South Korean carmakers' global market share inched down in 2022 from a year earlier due largely to weaker sales in China and Russia, industry data showed. Local automakers accounted for 7.3 per cent of vehicle sales in the world's eight major markets last year, down from 7.7 per cent in 2021, according to the data from the Korea Automobile Manufacturers Association (KAMA). Hyundai Motor and Kia are South Korea's two biggest carmakers, with three other smaller rivals -- GM Ko...
South Korean carmakers` global market share falls to 7.3% in 2022
South Korean carmakers` global market share falls to 7.3% in 2022
Source: IANS
22/04/2023 5:47:44 PM
Hyundai to develop moon-exploration mobility `Rover` Hyundai Motor said on Thursday it will develop a moon-exploration mobility "Rover" as it seeks to morph into a future mobility solutions provider. In July last year, Hyundai Motor signed a memorandum of understanding with the country's six aviation research institutes, including the Korea Aerospace Research Institute and the Korea Automotive Technology Institute, for the project, the company said in a statement. Hyundai and the institutes are aiming to collect minerals, ma...
Hyundai to develop moon-exploration mobility `Rover`
Hyundai to develop moon-exploration mobility `Rover`
Source: IANS
20/04/2023 5:02:09 PM
Auto-Expo 2023: Interior made from recycled plastic & fishnet debris, Kia reveals its EV9 concept SUV South Korea's auto company, Kia motors, on Wednesday unveiled its Concept EV9 for the first time in India at the Auto Expo 2023, made of upcycled materials and inbuilt solar panel. The car was first unveiled to the world at the 2021 Los Angeles Motor show. With the aim to give a futuristic layout, the EV9's interior is made from materials, including natural wool yarns, recycled plastic, fishnet debris, and plant-based materials. Besides, it also features a 27-inch display screen...
Auto-Expo 2023: Interior made from recycled plastic & fishnet debris, Kia reveals its EV9 concept SUV
Auto-Expo 2023: Interior made from recycled plastic & fishnet debris, Kia reveals its EV9 concept SUV
Source: IANS
11/01/2023 2:25:55 PM
South Korea`s Trade Minister to visit US for talks on Inflation Reduction Act South Korea's Trade Minister Ahn Duk-geun will visit the US for talks on the US Inflation Reduction Act (IRA) that excludes electric vehicles assembled outside North America from tax incentives, the ministry said Sunday. Ahn is set to hold meetings with US Trade Representative Katherine Tai, John Podesta, the senior adviser to the US president for clean energy innovation and implementation, as well as US lawmakers during a five-day visit that begins Monday, according to the Ministry of...
South Korea`s Trade Minister to visit US for talks on Inflation Reduction Act
South Korea`s Trade Minister to visit US for talks on Inflation Reduction Act
Source: IANS
4/12/2022 10:35:39 AM
Hyundai, Kia`s US sales up 7.9% amid chip shortage Hyundai Motor Group said on Wednesday its overall vehicle sales in the United States rose 7.9 per cent last month from a year earlier despite the extended chip shortage. Hyundai Motor, its independent Genesis brand, and Hyundai's smaller affiliate Kia sold a combined 123,233 vehicles in the world's most important automobile market in October, up from 114,128 units a year ago, according to the companies' sales data. Hyundai's sales climbed 7 percent to 60,604 units last m...
Hyundai, Kia`s US sales up 7.9% amid chip shortage
Hyundai, Kia`s US sales up 7.9% amid chip shortage
Source: IANS
2/11/2022 3:41:43 PM
Long queue for utility vehicles in India Even as the demand for passenger vehicles going up, the supplies of semi-conductors easing and manufacturers launching new models, the waiting period for customers for some models is nearly two years, states a report. The car companies with long waiting list includes Kia Motors, Mahindra and Mahindra (M&M) Hyundai Motor India, Maruti Suzuki India, Toyota Kirloskar and others. Interestingly topping the list is M&M's Scorpio model having a wait ing period of about 21 months. ...
Long queue for utility vehicles in India
Long queue for utility vehicles in India
Source: IANS
12/10/2022 5:26:21 PM
Hyundai, Kia's US sales up 4.4% amid chip shortage Hyundai Motor Group said on Wednesday its vehicle sales in the United States rose 4.4 per cent last month from a year earlier despite the extended chip shortage. Hyundai, its affiliate Kia Corp. and Hyundai's independent Genesis brand sold a combined 120,642 vehicles in the world's most important automobile market in September, up from 115,573 units a year ago, according to the companies' sales data. Hyundai's sales climbed 11 percent to 59,465 units last month from 53,8...
Hyundai, Kia's US sales up 4.4% amid chip shortage
Hyundai, Kia's US sales up 4.4% amid chip shortage
Source: Reuters
6/10/2022 9:15:36 AM
Kia to launch high-performance electric model EV6 GT next week  Kia Corp, South Korea's second-biggest carmaker, said on Thursday it will launch the pure electric high-performance model EV6 GT in the domestic market next week in a move to beef up its EV lineup. The EV6 GT comes with a 77.4 kWh battery pack and can travel up to 342 kilometers on a single charge. It can accelerate from zero to 100 km in only 3.5 seconds, the company said in a statement. The company said the EV6 GT will be the "fastest car" among passenger vehicles ...
Kia to launch high-performance electric model EV6 GT next week
Kia to launch high-performance electric model EV6 GT next week
Source: IANS
29/09/2022 3:24:59 PM
Hyundai, Kia`s US sales fall 11% amid chip shortage Hyundai Motor and its affiliate Kia said on Wednesday their combined sales in the United States fell 11 per cent last month from a year earlier amid the prolonged global chip shortage. Hyundai, its independent Genesis brand, and Kia sold 128,283 vehicles in the world's most important automobile market in July compared with 143,779 units a year ago, according to the companies' sales data. Hyundai's sales declined 11 per cent to 60,631 units last month from 68,500 a year ago. ...
Hyundai, Kia`s US sales fall 11% amid chip shortage
Hyundai, Kia`s US sales fall 11% amid chip shortage
Source: IANS
3/08/2022 10:09:07 AM
Kia's sales fall 4.9% globally amid chip shortage Kia, South Korea's second-largest automaker, said on Thursday its sales fell 4.9 per cent last month from a year earlier as a global chip shortage affected its vehicle production and sales. Kia sold a total of 234,554 vehicles in May, down from 246,768 units a year ago, the company said in a statement. Domestic sales declined 4.7 per cent on-year to 45,663 units last month from 47,901, while exports were down 5 per cent to 188,891 from 198,867 during the cited period, reports Yonhap...
Kia's sales fall 4.9% globally amid chip shortage
Kia's sales fall 4.9% globally amid chip shortage
Source: IANS
2/06/2022 2:56:36 PM
Kia reports drop in Q1 net profit amid chip shortage Kia, South Korea's second-largest carmaker, said on Monday that its first-quarter net profit fell 0.2 per cent from a year earlier due to one-off costs amid global chip shortages. Net profit for the three months ended in March fell to 1.032 trillion won ($825 million) from 1.035 trillion won during the same period of last year, the company said in a statement. In the first three months, Kia's vehicle sales fell 0.6 per cent to 685,739 vehicles, including 564,075 units overseas. ...
Kia reports drop in Q1 net profit amid chip shortage
Kia reports drop in Q1 net profit amid chip shortage
Source: IANS
25/04/2022 4:09:12 PM
Indian automakers face heat amid global constraints, hike prices It is becoming increasingly difficult for Indian automakers to control input costs as they are dependent on China and Japan which are facing supply chain woes, resulting in price hikes across vehicle ranges, according to a new report. Indian automakers are responding to raw material price hikes by at least 2 per cent price hike on average, according to Counterpoint Research. KIA Motors has increased prices of all its vehicles. Maruti Suzuki, India's largest passenger vehicle (PV) ma...
Indian automakers face heat amid global constraints, hike prices
Indian automakers face heat amid global constraints, hike prices
Source: IANS
16/04/2022 4:03:50 PM
Kia India launches Carens at introductory starting price from Rs 8.99 lk Automaker Kia India on Tuesday launched its fourth offering -- Carens -- a three-row recreational vehicle at an introductory price of Rs 8.99 lakh (ex-showroom, pan-India). According to the company, Carens is offered in 19 variants with prices ranging from Rs 8.99 lakh to Rs 16.99 lakh (ex-showroom, pan-India). The model is available in five trims, three engine options and three transmission options. So far, the company has received 19,089 bookings for the car in over a month since t...
Kia India launches Carens at introductory starting price from Rs 8.99 lk
Kia India launches Carens at introductory starting price from Rs 8.99 lk
Source: IANS
16/02/2022 9:40:49 AM
Kia`s January sales fall 5.7% on chip shortage Kia, South Korea's second-largest automaker said its sales fell 5.7 percent last month from a year earlier as the global chip shortage continued to affect its production. Kia sold 2,12,819 vehicles in January, down from 2,25,733 units a year ago, the company said in a statement. Sales in South Korea declined 11 per cent on-year to 37,038 units last month from 41,481, while exports were down 4.6 per cent to 1,75,781 from 1,84,252 during the cited period, it said. Continued chip sh...
Kia`s January sales fall 5.7% on chip shortage
Kia`s January sales fall 5.7% on chip shortage
Source: IANS
6/02/2022 1:47:57 PM
Kia workers OK wage deal without strike for 1st time in 10 years Unionised workers at Kia, South Korea's second-biggest carmaker, have voted to accept the company's wage proposals without a strike for the first time in a decade. Kia said 68 percent of 26,945 workers voted in favor of wage offers that include an increase of 75,000 won ($64.30) in monthly basic pay, two months of wages in performance-based pay and cash bonuses worth 5.8 million won. More than 1,600 out of the 28,604-member union abstained, reports Yonhap news agency. But Kia...
Kia workers OK wage deal without strike for 1st time in 10 years
Kia workers OK wage deal without strike for 1st time in 10 years
Source: IANS
29/08/2021 9:58:53 AM
Kia becomes fastest carmaker to sell 3L vehicles in India Passenger vehicle maker Kia India has become the quickest brand to achieve the 3 lakh vehicles sale milestone in the domestic automotive market. The brand crossed the first one lakh milestone in July 2020, the next one lakh in January 2021, and the third one lakh in August 2021. "Notably, Kia India achieved the first one lakh unit sales in one year and clocked the latter two lakhs in the same amount of time, signifying the high adoption rate of Kia cars among Indian customers,"...
Kia becomes fastest carmaker to sell 3L vehicles in India
Kia becomes fastest carmaker to sell 3L vehicles in India
Source: IANS
6/08/2021 9:28:32 AM
Kia India's July sales zooms 76% Automaker Kia India on Monday reported over 76 per cent year-on-year sales growth in July with sales of 15,016 units. Sonet emerged as the highest contributor to the company's July sales with 7,675 units, followed by Seltos and Carnival with 6,983 and 358 units, respectively. The brand also crossed the one lakh sales mark in the CY2021, indicating an improving market sentiment. "We are optimistic that the future will witness an uptick in demand for personal mobility with the...
Kia India's July sales zooms 76%
Kia India's July sales zooms 76%
Source: IANS
3/08/2021 9:32:18 AM
Kia launches 1st all-electric EV sedan, starts from $40K  Kia, South Korea's second-biggest carmaker, on Monday launched an all-electric EV6 sedan in the domestic market ahead of its overseas launches later this year. The EV6 is Kia's first model embedded with Hyundai Motor Group's own EV-only electric-global modular platform (E-GMP). Kia has received over 30,000 preorders for the EV6 in the domestic market, and a combined 8,800 preorders in Europe and the United States, the company said. The maker of the K5 sedan and the ...
Kia launches 1st all-electric EV sedan, starts from $40K
Kia launches 1st all-electric EV sedan, starts from $40K
Source: IANS
2/08/2021 9:54:44 AM
Kia launches 1st all-electric EV sedan, starts from $40K Kia, South Korea's second-biggest carmaker, on Monday launched an all-electric EV6 sedan in the domestic market ahead of its overseas launches later this year. The EV6 is Kia's first model embedded with Hyundai Motor Group's own EV-only electric-global modular platform (E-GMP). Kia has received over 30,000 preorders for the EV6 in the domestic market, and a combined 8,800 preorders in Europe and the United States, the company said. The maker of the K5 sedan and the Sorent...
Kia launches 1st all-electric EV sedan, starts from $40K
Kia launches 1st all-electric EV sedan, starts from $40K
Source: IANS
2/08/2021 9:49:04 AM
Kia drives out Motors from its name, to be called Kia India now In order to signify its new business strategy of providing mobility solutions rather than production of vehicles, the Indian subsidiary of Kia Corporation has got a new name -- Kia India Private Ltd. Earlier, the Indian company was called Kia Motors India. According to Kia India, the name change symbolises it becoming an enterprise that invests in and produces more than just vehicles to offer a long-range of sustainable mobility solutions. The company has changed its logo and name at...
Kia drives out Motors from its name, to be called Kia India now
Kia drives out Motors from its name, to be called Kia India now
Source: IANS
25/05/2021 9:37:14 AM
Kia India extends support to Andhra Pradesh for Covid relief Automobile manufacturer Kia India has contributed Rs 5 crore to the Andhra Pradesh State Disaster Management Authority (APSDMA) for Covid-19 relief work. According to the company, with the second wave of Covid-19 and the exponential rise in cases across the country, the contribution has been made to support the state and its people in these testing times. "The surge in cases during the second wave of Covid-19 has taken all of us by surprise," Kia India Managing Director and CE...
Kia India extends support to Andhra Pradesh for Covid relief
Kia India extends support to Andhra Pradesh for Covid relief
Source: IANS
21/05/2021 9:22:15 AM
Kia Motors India is now Kia India Automobile manufacturer Kia on Tuesday relaunched its brand in India, and will now be known as Kia India, instead of Kia Motors India. "This is a proud and historic moment for us as India becomes the first country to transition to the new brand identity after our headquarters in South Korea. Our decision to increase the production capacity stems from our deep customer understanding where a faster delivery of our products can enhance their buying experience tremendously," said Koo...
Kia Motors India is now Kia India
Kia Motors India is now Kia India
Source: IANS
27/04/2021 5:43:35 PM
Kia India appoints Hardeep Singh Brar as sales, marketing head Automobile manufacturer Kia Motors India on Monday announced the appointment of Hardeep Singh Brar as the national head of sales and marketing, with immediate effect. According to the company, Brar will be responsible for enhancing Kia's leadership position in the Indian market and for enabling the next wave of growth. "Brar brings over two decades of experience in the automotive industry to Kia, having most recently served at Great Wall Motors as Director Marketing and Sales,&...
Kia India appoints Hardeep Singh Brar as sales, marketing head
Kia India appoints Hardeep Singh Brar as sales, marketing head
Source: IANS
16/03/2021 8:54:02 AM
Kia partnership with Apple for EV project 'still possible' Hyundai Motor along with its affiliate Kia said recently that it is not in talks with Apple for an electric car manufacturing project but now, a new report has claimed that a partnership may still be possible for Kia, adding that negotiations with Apple are not completely cancelled. According to a new report from South Korean news site Chosun Biz, Apple and Kia signed a memorandum of understanding (MoU) last year, "agreeing to pursue cooperation in eight sectors, including electric ve...
Kia partnership with Apple for EV project 'still possible'
Kia partnership with Apple for EV project 'still possible'
Source: IANS
26/02/2021 11:31:14 AM
Kia Motors India sold 1 lakh units since July Automobile manufacturer Kia Motors India has sold 1 lakh units since July 2020 in the domestic wholesale market. Accordingly, the maker of Seltos, Sonet and Carnival has successfully dispatched 200,000 Kia vehicles to its dealerships across India within 17 months of sales operations in the country. The second 1 lakh wholesale mark assumes significance since it took place during the economically volatile period just after the lockdown which was imposed to curb the spread of the Covid-19 ...
Kia Motors India sold 1 lakh units since July
Kia Motors India sold 1 lakh units since July
Source: IANS
26/01/2021 9:31:54 AM
South Korea`s Kia says reviewing electric car cooperation with multiple firms after Apple report SEOUL  - South Korean automaker Kia Motors Corp said on Wednesday it's reviewing cooperation on self-driving electric cars with multiple foreign firms, making no mention of a report linking it to a project with tech giant Apple Inc. Kia's comment, issued in a regulatory filing as its shares surged nearly 20% in Seoul, came after domestic online publication Edaily reported late on Tuesday that Kia's parent, Hyundai Motor Group, had decided Kia would be in charge of proposed...
South Korea`s Kia says reviewing electric car cooperation with multiple firms after Apple report
South Korea`s Kia says reviewing electric car cooperation with multiple firms after Apple report
Source: Reuters
20/01/2021 10:15:31 AM
7 things that you did not know about Kia Motors- Who is the brand? Kia Motors has finally announced its eagerly awaited foray into the fast-growing car market in India. Kia has been hugely successful across the globe, particularly over the last few years and it has now ventured into India successfully too with its hit models like the Seltos, Carnival MPV and now the popular Sonet compact SUV. Kia is a part of the Hyundai Motor Group which also has its Genesis and Hyundai passenger car brands in its portfolio. This is cumulatively the 4th biggest car manufact...
7 things that you did not know about Kia Motors- Who is the brand?
7 things that you did not know about Kia Motors- Who is the brand?
Source: Carandbike
17/12/2020 4:39:40 PM