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Hyundai Champions ‘Mobility for All’ at Bharat Expo 2024

Since its inception in 1996, Hyundai Motor India has consistently demonstrated a commitment to India, becoming the first OEM to export ‘Made in India’ vehicles worldwide and holding the position of the largest passenger vehicle exporter from India…reports Asian Lite News

Hyundai Motor India Ltd. showcased its technologically-advanced products at the first ever Bharat Mobility Global Expo 2024. Based on the theme ‘Mobility for All’, the Hyundai Motor India Pavilion in Hall No. 6, Pragati Maidan, presented the company’s vision for India and highlighted its commitment to India.

Commenting on Hyundai Motor India’s participation at Bharat Global Mobility Expo 2024, Puneet Anand, AVP and Vertical Head, Corporate Affairs, Hyundai Motor India, said, “We would like to congratulate the Government of India and Ministry of Commerce & Industries for envisioning this unique Bharat Global Mobility Expo 2024.

“It gave us an opportunity to showcase our products & technologies to the audience. As Hyundai Motor India, we take pride in our journey of localization, epitomising the ‘Made in India, for the World’ spirit. Our commitment goes beyond cars; it’s a commitment to India’s engineering prowess and growth.

“Achieving 100 per cent localisation in vital components reflects our dedication to the ‘Make in India’ initiative. Our state-of-the-art facilities across the nation, coupled with ongoing investments, underscore our vision for excellence. Hyundai’s journey in India is more than just automobiles; it’s a narrative of progress, community development, and a relentless pursuit of innovation, reflecting our enduring commitment to India’s future.”

Localisation Zone

Localisation has been pivotal in Hyundai Motor India’s journey since its inception. As the foremost exporter of ‘Made in India’ cars globally, Hyundai’s specialised localisation zone exemplifies the extensive utilization of parts from Indian manufacturers, showcasing the nation’s engineering prowess.

In its ongoing commitment to enhancing localisation, Hyundai has achieved 100 per cent localisation in key components such as tires, panoramic sunroof, alloy wheel, and more.

The company is also working towards enhancing localisation ratio for manufacturing vehicles in India, including key car components, ECM-based Inside Rear View Monitor (IRVM), higher grade AGM technology battery, and a wide range of other components.

Reinforcing its commitment towards localisation, a dedicated team has been established to intensify its efforts, particularly for high-volume models, aligning with the government’s ‘Make in India’ initiative.

The zone not only highlights Hyundai’s advanced manufacturing facility in Sriperumbudur, but also showcases the R&D facility in Hyderabad, corporate office in Gurugram, and the recently acquired Maharashtra facility, firmly establishing Hyundai’s presence on the Indian map.

The comprehensive zone is complemented by a film illustrating Hyundai’s manufacturing excellence, emphasising the company’s dedication to delivering the highest quality vehicles globally.

Since its inception in 1996, Hyundai Motor India has consistently demonstrated a commitment to India, becoming the first OEM to export ‘Made in India’ vehicles worldwide and holding the position of the largest passenger vehicle exporter from India.

Hyundai has been a pioneer in the Indian automobile industry, introducing global technologies and features, and standardizing 6 airbags and 3-point seatbelts across its entire range.

Aligned with Hyundai’s global CSR guideline of ‘CONTINUE,’ the Hyundai Motor India Foundation, initiated in 2006, has undertaken various social initiatives, including Art for Hope, telemedicine clinics, sports labs, Dhyan-Do, Drive for Progress, BeTheBetterGuy, and more, focusing on community development, healthcare, education, vocational training, and promoting safe mobility practices.

In 2023, Hyundai Motor India signed an MoU with the government of Tamil Nadu, committing INR 20,000 Crore over next 10 years for capacity expansion, new products, establishing a battery pack assembly facility, and improving charging infrastructure.

In 2024, an additional commitment of Rs 6,180 crore was declared by the company, including Rs 180 crore towards ‘Hydrogen Valley Innovation Hub’ in collaboration with IIT Madras.

Additionally, the company has signed an MoU with the State of Maharashtra for a long-term investment of Rs 6,000 crore for infrastructure upgradation and capacity expansion for its 1 million capacity goal. These endeavours underscore Hyundai Motor India’s enduring commitment to India, paving the way for its sustained success in the country.

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Hyundai’s New Plant to Produce 200,000 EVs Annually

Hyundai will spend 2 trillion won ($1.51 billion) to build the 548,000-square-meter EV factory in Ulsan, some 300 kms southeast of Seoul….reports Asian Lite News

Hyundai Motor held a groundbreaking ceremony on Monday for a dedicated electrical vehicle (EV) manufacturing plant in the country’s southeastern industrial city of Ulsan, with a goal of producing 200,000 vehicles annually, starting in 2026.

Hyundai will spend 2 trillion won ($1.51 billion) to build the 548,000-square-meter EV factory in Ulsan, some 300 kms southeast of Seoul. When completed, it will be Hyundai’s first domestic manufacturing plant in 29 years since its Asan plant, built in 1996.

The ceremony, held at the EV plant site, a former test drive site inside Hyundai’s larger Ulsan plant, was attended by Hyundai Motor Group Executive Chair Euisun Chung and Ulsan Mayor Ki Du-kyum, reports Yonhap news agency.

According to Hyundai, the envisioned facility will be operated through the company’s innovative manufacturing platform developed by the Hyundai Motor Group Innovation Center in Singapore, the company’s smart urban mobility hub.

The platform factors in and streamlines elements involving workers’ safety, convenience and efficient operations. It utilizes an artificial intelligence-based intelligent control system and environmentally friendly, low-carbon production methods.

“The dedicated EV plant marks another beginning towards the era of electrification for the next 50 years,” Chung said in his welcome remarks at the ceremony.

Chung also pledged for Hyundai to work together with the local government to make Ulsan a “pioneering innovative mobility city,” leading the era of electrification.

Hyundai has previously announced a medium- to long-term goal of producing and selling 940,000 EV units by 2026 and 2 million units by 2030.

After the event, Chung hinted that Hyundai intends to continue investing in the EV business despite recent cost-cutting efforts among global competitors, such as GM and Ford.

“It’s an investment we’ve been making, and while there are various methods, such as cost reduction, in the broader picture, the demand for EVs will inevitably continue to increase,” Chung told reporters.

Also featured at the ceremony was a video highlighting the history of Hyundai’s Ulsan plant. In it, the late Chung Ju-yung, founder of Hyundai, whose image and voice were recreated using artificial intelligence technology, was seen praising the abilities of South Korean engineers.

“Thanks to the outstanding abilities and dedication of these individuals, I am confident that the day is not far off when Korean cars, our cars, will dominate the global market,” the late founder was portrayed as saying.

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Business Tech Lite USA

Hyundai, Kia Dominate US Eco-Friendly Car Market

The tally was also higher than the annual sales of 182,627 eco-friendly cars sold in the U.S. in 2022…reports Asian Lite News

Hyundai Motor, South Korea’s biggest carmaker, and its affiliate Kia sold more than a combined 200,000 eco-friendly vehicles in the United States in the January to September period, the companies said on Sunday.

The two automakers have sold a combined 213,270 eco-friendly cars in the U.S. in the first nine months, up 61.6 per cent from the 131,986 logged over the same period last year.

The tally was also higher than the annual sales of 182,627 eco-friendly cars sold in the U.S. in 2022, reports Yonhap news agency.

Among Hyundai’s cars, Tucson Hybrid was sold the most at 30,353 units, followed by 25,306 units of its electric vehicle model, Ioniq 5, and 16,824 units of the Santa Fe Hybrid.

Among Kia’s models, sport utility vehicles were popular.

A total of 30,604 units of Kia’s Sportage Hybrid were sold in the January-September period, as well as 20,003 units of the Niro Hybrid and 19,927 units of the Sorento Hybrid.

Hyundai and Kia’s strong performance came amid the two companies’ efforts to expand their sales of commercial-purpose electric vehicles that are still eligible for tax credits under the U.S. Inflation Reduction Act (IRA) though they are assembled outside North America.

The share of South Korean automakers in the U.S. commercial eco-friendly vehicle market jumped to 55 percent in August from 5 percent last year, according to the industry ministry.

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Hyundai, Kia Seek Dismissal of Car Theft Class-Action Lawsuits in the US

All Hyundai and Kia vehicles produced since November 2021 come with an engine immobilizer as standard equipment, according to the companies…reports Asian Lite News

Hyundai Motor and its affiliate Kia said on Wednesday that they have asked a US court to reject class-action lawsuits filed in 17 cities over a series of car thefts of their vehicles.

In their documents submitted to the US court, Hyundai and Kia said they should not be held accountable for thefts resulting from an unprecedented criminal social-media phenomenon, reports Yonhap news agency.

The lawsuits came after thousands of thefts of the carmakers’ vehicles spiked in the summer of 2022 due to Tiktok videos showing how to steal cars without the theft-prevention devices under the title “Kia Challenge.”

The 17 cities include New York, San Diego, Milwaukee, Cleveland, Columbia and Seattle.

The South Korean carmakers also said subjected state governments are responsible for the thefts, citing their lack of budget and lax policing to prevent auto theft and reckless joyriding.

In February, the carmakers said they would provide software upgrades to 8.3 million units of their vehicles sold in the United States without push-button ignitions and immobilizing anti-theft devices.

All Hyundai and Kia vehicles produced since November 2021 come with an engine immobilizer as standard equipment, according to the companies.

In May, they agreed to a $200 million settlement in a class-action lawsuit filed by US consumers for failing to install anti-theft technology in the affected vehicles.

ALSO READ-Hyundai Launches Ioniq 5 N Electric Model

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Hyundai Launches Ioniq 5 N Electric Model

The new model represents a new segment of driver-focused high-performance EVs since it boasts advanced cornering and racetrack capabilities…reports Asian Lite News

Hyundai Motor on Monday launched the N brand’s first all-electric model, the Ioniq 5 N, in the domestic market as it accelerates its transition to a future mobility solutions provider.

The Ioniq 5 N, first unveiled at the 2023 Goodwood Festival of Speed in Great Britain in July, comes with an 84 kWh battery pack and can accelerate from zero to 100 kph in 3.4 seconds, the company said in a statement.

The new model represents a new segment of driver-focused high-performance EVs since it boasts advanced cornering and racetrack capabilities as an everyday sportscar, reports Yonhap news agency.

It is priced at $58,000 after individual consumption taxes and tax benefits given to environment-friendly vehicles. It can travel about 350 kms on a single charge, the statement said.

Ioniq 5 N combines the standard Ioniq 5 model’s electric global modular platform (E-GMP) with N’s motorsport-bred technologies. E-GMP is Hyundai Motor Group’s dedicated EV platform.

Hyundai’s Ioniq 5 and Ioniq 6 are built on the E-GMP platform, with the same platform-based Ioniq 7 set to be released next year.

Hyundai’s independent Genesis brand’s GV60 SUV, and its smaller affiliate Kia Corp.’s EV6 and EV9 SUVs also share the E-GMP platform.

The maker of Sonata sedans and Santa Fe SUVs plans to invest 109.4 trillion won by 2032 to secure a leading position in the global future mobility market, while aiming to sell 1 million pure electric models by 2030.

Hyundai’s first dedicated EV factory, the 300,000-unit-a-year Hyundai Motor Group Metaplant America in Georgia, the U.S., is under construction with a goal to start operations in the second half of 2024.

Another EV-dedicated plant is being built in Korea with the aim of starting production in 2025.

The N models bring full performance capability to daily driving, while the N Line brings performance-inspired elements to base model vehicles. The N Line models sit between Hyundai’s high-performance N brand and the general Hyundai brand.

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Hyundai to take fresh crack at Japanese Market

Hyundai Motor signed a memorandum of understanding (MOU) with the Culture Convenience Club Co. (CCC) for partnerships in car-sharing mobility services…reports Asian Lite News

Hyundai Motor said on Thursday it has signed an initial pact with a Japanese culture content company to promote sales of zero-emission vehicles in the neighbouring country.

Hyundai Motor signed a memorandum of understanding (MOU) with the Culture Convenience Club Co. (CCC) for partnerships in car-sharing mobility services, data-based marketing and an EV experience platform in Japan, the company said.

“We expect the partnership between a mobility company and a content provider will generate new opportunities (in the Japanese market),” Hyundai Motor President and CEO Chang Jae-hoon said in a statement.

In the Mocean car-sharing services, Hyundai provides the all-electric IONIQ 5 equipped with Hyundai Motor Group’s dedicated EV platform named E-GMP and its charging facility at the large-scale bookstore Daikanyama T-Site Tsutaya, operated by CCC, reports Yonhap news agency.

Hyundai also plans to promote its battery electric vehicles through joint marketing projects with CCC and to give Japanese consumers opportunities to experience its zero-emission cars through the EV experience program.

In May last year, Hyundai re-entered the Japanese market 12 years after leaving Japan due to poor sales, as rising demand for all-electric vehicles offers new opportunities in the market dominated by Toyota Motor Corp.

Hyundai advanced into Japan in 2001 but pulled out of the neighboring market in 2009 after selling a mere 15,000 gasoline cars during its first foray.

Hyundai seeks to provide sustainable mobility to the market under the motto of Progress for Humanity. Japan is the market from which the company has to learn and into which the company has to explore, Chang said in February.

Hyundai has sold the Nexo hydrogen fuel-cell electric vehicle and the IONIQ 5 midsize crossover through an online-only sales platform, without dealerships.

The maker of Sonata sedans and Santa Fe SUVs plans to introduce two pure electric models by early next year — the Kona Electric this fall and the high-performance IONIQ 5 N model early next year.

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Hyundai inks pact to promote sales of zero-emission vehicles

Hyundai advanced into Japan in 2001 but pulled out of the neighboring market in 2009 after selling a mere 15,000 gasoline cars during its first foray…reports Asian Lite News

Hyundai Motor said on Thursday it has signed an initial pact with a Japanese culture content company to promote sales of zero-emission vehicles in the neighbouring country.

Hyundai Motor signed a memorandum of understanding (MOU) with the Culture Convenience Club Co. (CCC) for partnerships in car-sharing mobility services, data-based marketing and an EV experience platform in Japan, the company said.

“We expect the partnership between a mobility company and a content provider will generate new opportunities (in the Japanese market),” Hyundai Motor President and CEO Chang Jae-hoon said in a statement.

In the Mocean car-sharing services, Hyundai provides the all-electric IONIQ 5 equipped with Hyundai Motor Group’s dedicated EV platform named E-GMP and its charging facility at the large-scale bookstore Daikanyama T-Site Tsutaya, operated by CCC, reports Yonhap news agency.

Hyundai also plans to promote its battery electric vehicles through joint marketing projects with CCC and to give Japanese consumers opportunities to experience its zero-emission cars through the EV experience program.

In May last year, Hyundai re-entered the Japanese market 12 years after leaving Japan due to poor sales, as rising demand for all-electric vehicles offers new opportunities in the market dominated by Toyota Motor Corp.

Hyundai advanced into Japan in 2001 but pulled out of the neighboring market in 2009 after selling a mere 15,000 gasoline cars during its first foray.

Hyundai seeks to provide sustainable mobility to the market under the motto of Progress for Humanity. Japan is the market from which the company has to learn and into which the company has to explore, Chang said in February.

Hyundai has sold the Nexo hydrogen fuel-cell electric vehicle and the IONIQ 5 midsize crossover through an online-only sales platform, without dealerships.

The maker of Sonata sedans and Santa Fe SUVs plans to introduce two pure electric models by early next year — the Kona Electric this fall and the high-performance IONIQ 5 N model early next year.

ALSO READ-Hyundai to push forward EV investments

READ MORE-Hyundai to push forward EV investments

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Hyundai to push forward EV investments

Hyundai Motor said it will also receive dividends from its Indian operations…reports Asian Lite News

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.

Hyundai Motor said it will also receive dividends from its Indian operations, reports Yonhap news agency.

“The dividends from their overseas operations will help the three companies cut back on bank loans, which will enhance their financial status and will allow them to make an aggressive investment (in EV plants),” the statement said.

The group’s overseas operations, including Hyundai Motor America, Hyundai Motor India, Hyundai Motor Manufacturing Czech, Kia America, Kia Europe and Kia Slovakia SRO, posted improved earnings results in the 2021-2022 period despite the COVID-19 pandemic.

Hyundai Motor plans to complete a 150,000-unit-a-year EV plant in its main Ulsan plant, 299 kilometers southeast of Seoul, by 2025.

In April, Kia began the construction of a 150,000-unit-a-year EV plant inside its existing factory in Hwaseong, just south of Seoul, with a goal to start production in late 2025.

In the same month, the Korean automotive group announced it will invest 24 trillion won in its domestic EV plants and other EV projects by 2030.

The three affiliates will collectively make the investment to help the group become the world’s No. 3 EV maker in terms of sales by 2030.

The companies plan to spend most of the planned investments in expanding their existing EV production lines, developing future mobility parts and technologies, establishing EV infrastructure and exploring new EV business opportunities.

Hyundai Motor and Kia plan to release a total of 31 battery-powered EV models by 2030, including the Kia EV9 this month and the Hyundai IONIQ 7 next year.

Hyundai Motor and Kia have set a combined sales goal of 7.52 million units this year, up 9.8 percent from the 6.85 million units they sold last year.

The two together form the world’s third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group.

On top of the domestic EV plants, the group is building a 300,000-unit-a-year EV and battery plant in the U.S. state of Georgia, with a goal to start production in the first half of 2025.

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Hyundai makes Rs 20k cr investment in TN

The Hyundai Motor India and the Tamil Nadu government’s Guidance Bureau on Thursday signed a Memorandum of Understanding (MoU) for this purpose….reports Asian Lite News

Car maker Hyundai Motor India Ltd will be investing about Rs 20,000 crore for modernising its plant near here, rolling out new models and to make electric vehicle battery assembly packs and EV charging stations.

The Hyundai Motor India and the Tamil Nadu government’s Guidance Bureau on Thursday signed a Memorandum of Understanding (MoU) for this purpose.

Speaking at the function, Chief Minister M.K.Stalin said the investment will speeded up the government’s target of growing the state economy to one trillion dollars by 2030.

Referring to the cabinet reshuffle on Thursday Stalin said the government’s support to the industries and the steps taken to grow the sector in the state will continue.

Stalin said Tamil Nadu ranks at the top in the production of automobiles and automobile components and as a logical progression the state also ranks at the top in the production of electric vehicles.

In March 2023, Hyundai Motor India had announced that it is considering acquiring land and building and some assets of General Motors India’s Talegaon plant in Maharashtra with a view to have a plant in a second location.

According to Hyundai Motor India, a Term Sheet has been signed for the potential acquisition of identified assets of the plant like — land and building, certain machinery and equipment situated at the General Motors India’s plant in Talegaon.

Hyundai Motor India said the proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.

The Indian subsidiary of South Korea’s Hyundai Motors has a big manufacturing facility in Irrungattukottai near here.

Hyundai Motor India has earlier announced its plans to get into electric vehicle manufacturing.

Further another facility outside Tamil Nadu is a sort of de-risking strategy and also being closer to other markets in the country.

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Hyundai’s EV plans are getting bigger

The move is in line with global carmakers’ plans to fill their lineups with zero-emission vehicles to help slow the pace of global warming….reports Asian Lite News

Hyundai Motor Group said on Tuesday it will invest 24 trillion won ($18.2 billion) in its domestic electric vehicle (EV) production facilities and other EV projects by 2030.

Hyundai Motor, its smaller affiliate Kia and auto parts maker Hyundai Mobis will collectively make the investment to become the world’s No. 3 EV maker in terms of sales by 2030, the group said in a statement.

The move is in line with global carmakers’ plans to fill their lineups with zero-emission vehicles to help slow the pace of global warming.

The companies will spend most of the planned investments in expanding their existing EV production lines, developing future mobility parts and technologies, establishing the EV infrastructure and exploring new EV business opportunities, reports Yonhap news agency.

The latest investment figure has been revised up from 21 trillion won announced by the Korean automotive group in May last year.

Hyundai Motor and Kia are aiming to sell a combined 3.64 million all-electric vehicles in global markets in 2030. In this year’s CEO Investor Day last week, Kia said it aims to sell 1.6 million EVs in 2030.

Hyundai Motor and Kia plan to release a total of 31 battery electric vehicles by 2030, including the Kia EV9 this year and the Hyundai IONIQ 7 next year, it said.

The EV9 is Kia’s second model equipped with Hyundai Motor Group’s EV platform, called E-GMP, after the EV6 SUV launched in 2021. Hyundai’s IONIQ 5 and IONIQ 6 are also built on the same platform.

The 31 pure electric vehicles include 18 models from Hyundai and its independent Genesis brand and 13 from Kia.

On Tuesday, Kia began the construction of a 150,000-unit-a-year EV plant inside its existing factory in Hwaseong, just south of Seoul, with a goal to start production in late 2025.

Hyundai.

President Yoon Suk Yeol attended the groundbreaking ceremony and called on the group to lead the future mobility solutions industry.

“The government will run as ‘one team’ (with Hyundai Motor Group) to take the lead in the world’s mobility innovations market along with policy support such as tax benefits (for the automotive industry),” he said.

Hyundai Motor also plans to complete a 150,000-unit-a-year EV plant in its main Ulsan plant, 414 kilometers southeast of Seoul, by 2025.

The group is building a 300,000-unit-a-year EV and battery plant in the U.S. state of Georgia, with a goal to begin production in the first half of 2025.

Hyundai Motor and Kia have set a combined sales goal of 7.52 million units this year, up 9.8 percent from the 6.85 million units they sold last year.

The two together form the world’s third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group.

Hyundai Motor, Kia and Hyundai Mobis are expected to spend their own cash and cash equivalents reaching more than 35 trillion won as of the end of 2022 for the EV investments.

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