News | Latest Breaking News Stories & Headlines

A large EV manufacturing facilty pictures against a cloudy sky

South Korea to fly detained workers back from US

South Korea is moving to pick up Korean workers following a raid at a Hyundai Motor manufacturing facility in the US state of Georgia last week, a Korean presidential official said.

Business • 08 Sep

Work paused at Hyundai's US site as workers detained

Up to 450 workers at a Hyundai Motor facility under construction in Georgia have been detained in a major raid by US authorities that has led to a pause in the project to build a car battery factory.

Business • 05 Sep

Car sales in the European Union, Britain and the European Free Trade Association fell 5.1% in June from a year earlier, to 1.24 million cars, new figures show today

June European car sales slump as automakers' woes deepen

New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said today, in a reflection of the global challenges faced by automakers.

Business • 24 Jul

EU Commissioner Stephane Sejourne in a suit walking in front of a flag

EU 'must reduce reliance' on China's rare earth minerals

The diversification of supply of raw materials is important to stay independent in the future, EU Commissioner for Industrial Strategy Stephane Sejourne has said, adding that the EU should reduce its dependency on China regarding rare earth magnets.

Business • 04 Jun

Hyundai and its affiliate Kia are particularly vulnerable to US tariffs

Hyundai Motor launches US tariff task force

Hyundai said today it has launched a task force to respond to US tariffs and reaffirmed its annual earnings target after reporting a 2% rise in first-quarter operating profit.

Business • 24 Apr

Hyundai, with Kia, are second in US sales of electric vehicles after Tesla

Hyundai picks first foreign CEO as it braces for Trump

Hyundai has named Jose Munoz, its current US chief and global chief operating officer, as co-chief executive officer, marking a rare appointment of a foreign national to a CEO post at a major South Korean conglomerate.

Business • 15 Nov 24

Hyundai India's IPO in Mumbai today will be world's second biggest IPO in 2024

Hyundai India starts country's largest ever share sale

Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai today, the company said in regulatory filings, a deal that will be the country's largest ever share offering and world's second biggest IPO in 2024.

Business • 14 Oct 24

Hyundai is planning to double its hybrid lineup to counter a slowdown in global electric vehicle demand

Hyundai Motor targets 30% rise in sales by 2030

Hyundai Motor said today it was targeting annual global sales of 5.55 million vehicles by 2030, up 30% from 2023, as it plans to double its hybrid lineup to counter a slowdown in global electric vehicle demand.

Business • 28 Aug 24

The car maker said it plans to spend about 35.8 trillion won on EVs in the period to 2032, targeting the sale of 2 million EV units annually by 2030.

Hyundai to invest $85bn by 2032, accelerate EV plans

South Korea's Hyundai Motor has said it plans to invest about $85.4 billion in the period through to 2032, allocating around a third to meet a "seismic change" in the industry toward electric vehicles (EVs).

Business • 20 Jun 23

Hyundair said it expects the global chip shortage to gradually become less acute in the second half of the year

Hyundai's second quarter net profit soars

South Korea's Hyundai has today turned in its best quarterly profit in about six years, helped by solid demand for its high-margin sport-utility vehicles (SUVs) and its premium Genesis cars.

Business • 22 Jul 21

Hyundai is to mass produce flying cars for Uber's aerial taxi network

Hyundai to make flying cars for Uber air taxis

Hyundai has announced that it would mass produce flying cars for Uber's aerial taxi network set to deploy in 2023.

Business • 07 Jan 20

Solid performance at home and in the United States helped offset a sales slump in China

Hyundai posts steepest quarterly profits in years

South Korea's Hyundai has posted its steepest quarterly net profit gain in over seven years, as a weaker local currency helped lift US income, while new models boosted domestic sales.

Business • 22 Jul 19

Hyundai reported net profit of 913.6 billion won (€701m) in April-June, down from 1.764 trillion won a year earlier

Hyundai posts 48% drop in Q2 net profit on China snub

South Korea's top carmaker Hyundai has posted a 48% drop in second-quarter net profit as China retaliated against South Korean exporters over a new US missile defence system.

Business • 26 Jul 17

The two car companies said they will recall 171,348 vehicles in South Korea because of a manufacturing problem, which leads to possible engine stalling

Hyundai, Kia to recall more than one million cars

Hyundai and Kia are expected to recall more than a million vehicles in South Korea and the US due to engine issues, the latest blow for two firms already struggling in key markets.

Business • 07 Apr 17

Toyota was the top-selling manufacturer of 2016, ahead of Hyundai, Volkswagen, and Ford

2016 car sales rise 17.5%, Toyota top make - SIMI

New car registrations increased by 17.5% last year when compared with 2015, while Toyota was the most popular manufacturer during 2016.

Business • 03 Jan 17

Over the past couple of years, the manufacturer has bet on new versions of former hit saloons to help it reverse out of its long-term profit slowdown

Hyundai slips to tenth straight profit drop in Q2

South Korean carmaker Hyundai slipped to its tenth straight profit drop in the second quarter and warned of a tough second half in store as it soaks up stiff competition.

Business • 26 Jul 16

Hyundai has reported a drop in profits for the last seven quarters

Hyundai and Kia forecast lowest sales in a decade

South Korea's largest carmakers, Hyundai and its affiliate Kia, have forecast their slowest sales growth in a decade for 2016, due to slumping demand in China and a strong Korean won.

Business • 04 Jan 16