South Korea's top-3 battery makers SK On, LG Energy Solution (LGES), and Samsung SDI are all on track to build additional domestic production capacities, in order to reduce the country's...
Hyundai Motor Group and SK On Co. will spend as much as $5 billion in North America for the production of electric car batteries as President Biden's green bill encourages companies...
Hyundai Motor Group unveiled a plan to scale up its EV presence significantly. The South Korean company plans to invest KRW24 trillion (US$18 billion) by 2030 to grow production and...
Although South Korea's overall export value has gone down for five consecutive months, the automotive sector once again broke export records in February 2023 and overtook semiconductors...
Hyundai Motor Group announced on March 13 that it has signed a term sheet for the potential acquisition of Genral Motors (GM)'s plant in Maharashtra, India. The South Korean carmaker...
Indonesia took a step forward to boost its EV market on March 6. The government announced a subsidy program for electric scooters, vehicles and buses. Officials said the country is...
As SIC power chips are increasingly applied to EV inverters, many IDMs are not only expanding production capacity but also keenly launching products and solutions to meet robust market...
Hyundai Motor Group (HMG) announced its total annual sales throughout 2022 grew slightly by 1.4% on-year to 3.94 million units; global annual revenue reached KRW142.5 trillion (US$120...
Onsemi has signed a strategic agreement with German automaker Volkswagen (VW) to provide modules and semiconductors that enable a complete electric vehicle (EV) traction inverter...
General Motors retook the title of the top US car seller. According to sales numbers released on January 4, the automaker reported US sales of over 2.27 million cars in 2022, holding...
Senator Joe Manchin is pressing Treasury Secretary Janet Yellen to stand firm on North American-based manufacturing requirements for lucrative electric-vehicle tax credits under the...
Biden's IRA law, which provides subsidies for US-made EVs only, has caused tensions between the US and South Korea. Following rounds of meetings with US Trade Representative, Ahn...
SK On, one of the largest EV battery manufacturers from South Korea, signed a memorandum of understanding (MOU) on November 28 with Hyundai Motor Group. The two companies will be...
Hyundai Motor Group announced at the end of October that it broke ground on Metaplant America to produce EV and EV batteries in the US, following the passage of the US' new law Inflation...
