Tag: Hyundai

Hyundai and Kia bet on London startup for electric cars

LONDON, United Kingdom  (AFP) — South Korea’s Hyundai and its Kia affiliate announced plans Thursday for a major investment in London-based startup Arrival to produce next-generation electric vehicles that cost less than standard-engine models. The 100-million-euro ($110 million) bet on the five-year-old technology firm comes as some manufacturers abandon Britain because of uncertainties about how it will trade with EU nations once it leaves the bloc this month. Arrival is focused on designing and producing […]

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Hyundai to make flying cars for Uber air taxis

LAS Vegas, United States (AFP) — Hyundai announced Monday it would mass produce flying cars for Uber’s aerial ride share network set to deploy in 2023. The South Korean manufacturer said it would produce the four-passenger electric “vertical take-off and landing vehicles” at “automotive scale,” without offering details. The deal announced at the Consumer Electronics Show in Las Vegas could help Uber, which is working with other aircraft manufacturers, to achieve its goal of deploying air […]

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Hyundai shows off walking car project

LAS VEGAS, United States (AFP) — South Korean car maker Hyundai on Monday gave a look at work it is doing on a vehicle with robotic legs to let it walk or crawl over treacherous terrain. Hyundai showed off its Elevate project on the eve of the Consumer Electronics Show gadget extravaganza, billing it an unprecedented “Ultimate Mobility Vehicle” that combines technology from electric cars with robotics. “What if a car designed with robotics could […]

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Lorenzana: Warship procured under Navy acquisition project to be delivered in 2020

  (Eagle News) — The warship that was procured under the Philippine Navy’s controversial frigate acquisition project will be delivered in 2020. This was the revelation of Defense Secretary Delfin Lorenzana on the sidelines of a hearing by the House Committee on National Defense and Security on the deal. “So it is continuing now…. Medyo made-delay lang ng six months, but it will be delivered,” he told reporters. During the hearing, Lorenzana noted that the […]

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Trade Secretary Lopez, several others face technical smuggling, estafa raps

Lopez also charged with plunder for alleged preferential treatment given to Korean company (Eagle News) — The Volunteers Against Crime and Corruption on Thursday filed criminal charges against Trade Secretary Ramon Lopez after he allegedly gave preferential treatment to a car manufacturer that led to the government losing P1.1 billion in taxes and Customs duties. Also charged with technical smuggling and estafa were six officials of Hyundai Asia Resources Incorporated, three high-ranking officials of Hyundai […]

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QCPD arrests car agent for large-scale estafa

QUEZON CITY, Philippines (Eagle News) — A car agent was arrested for allegedly defrauding two complainants of their downpayment for the upgrade of a vehicle. John Dexter Julve, sales consultant of Hyundai-Cainta, was arrested in Barangay Pasong Putik after receiving P20,000 in marked money from one of the two complainants, authorities said. The entrapment operation organized by the Quezon City Police District was made after that complainant and another  reported that the suspect ran away […]

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Hyundai Motor posts 21% drop in Q1 profit

SEOUL, South Korea (AFP) — South Korea’s biggest automaker Hyundai Motor posted a 21 percent drop in first-quarter profits on Wednesday, hammered by the fallout from a diplomatic spat between Seoul and Beijing over a US missile defense system. In a statement, Hyundai said it posted 1.46 trillion won (US$1.3 billion) in net profits during the January to March period, its 13th consecutive quarter of profit downturn. “Partial suspensions at factories increased cost burdens while […]

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Hyundai car workers start first full strike in 12 years

  SEOUL, South Korea (AFP) — Tens of thousands of unionised workers at South Korea’s Hyundai Motor staged their first full strike on Monday for more than a decade after negotiations over a wage increase stalled. Nearly 50,000 workers at Hyundai Motor’s three plants across the country — including the main one in the southern city of Ulsan — walked off the job throughout Monday, said a spokesman for its labour union. The day-long stoppage is […]

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Hyundai, Kia in record settlement with U.S. for overstating mileage

(Reuters) – Korean carmakers Hyundai Motor Co (005380.KS) and affiliate Kia Motors Corp (000270.KS) will pay $350 million in penalties to the U.S. government for overstating fuel economyratings in what officials said on Monday was the biggest settlement of its kind. The deal comes on top of $395 million the automakers agreed to pay last December to resolve claims from the owners of the vehicles, bringing the companies’ total cost for the mileage overstatements to more […]

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