Negotiations between Hyundai Motor and the U.S. government concerning tax incentives for the Korean automaker's USD 5.5 billion EV plant in Georgia have yet to reach a conclusion. It was first reported on August 31st 2023, indicating that Hyundai Motor Group and LG Energy Solution (LGES) would in...

In May 2023, Hyundai announced a local investment of KRW 2 trillion (approximately USD 1.52 billion) to establish an EV factory in South Korea, with a groundbreaking ceremony held on November 13. The factory is expected to be completed in 2025, with electric vehicle production set to commence in the...

Under strong government support, South Korean automakers are making remarkable strides in the global automotive market. Hyundai Motor, the largest car manufacturer in South Korea, reported a significant surge in its third-quarter operating profit, doubling year-on-year, primarily fueled by the robus...

Infineon, Hyundai, and Kia announced on October 18 that they have signed a multi-year agreement for the supply of SiC (Silicon Carbide) and Si (Silicon) power semiconductor modules and chips. Under this agreement, Infineon will supply SiC and Si power components to Hyundai and Kia until 2030, and...

Due to the Russian-Ukrainian war, automotive factories currently located in Russia have shut down successively and stopped importing vehicles, TrendForce asserts. In addition, Russia has stated that if foreign-funded enterprises choose to permanently suspend business or withdraw from the market du...