Hyundai

Mexico's steep tariff hike to hit $1 billion in Indian auto exports

The import duty on cars will rise to 50 per cent from 20 per cent, dealing a significant blow to India's largest vehicle exporters to Mexico including Volkswagen, Hyundai, Nissan and Maruti Suzuki

What are CAFE norms and why are small carmakers worried about them?

While India's CAFE formula resembles the European Union, it lacks any adjustments for protecting small cars

South Korean conglomerates pledge $550 billion domestic investment

Hyundai Motor Group pledged 125.2 trillion won over the same period

GST cut gave a fillip to SUVs, not small cars: Hyundai COO Tarun Garg

Hyundai's Tarun Garg said small cars' share in PV sales has continued to fall despite GST rate cuts, with SUVs driving most of the market's growth and consumer upgrades

Amazon layoffs, SC allows use of green firecrackers,China moves WTO over India's EV

The Supreme Court on Wednesday eased its ban on green firecrackers in Delhi-NCR, allowing their offline sale under strict conditions. The court noted that smuggled firecrackers cause more pollution

Global EV price war heats up as Tesla, Nissan and Hyundai slash prices

Automakers worldwide are cutting electric vehicle prices as demand slows; Tesla, Hyundai, Nissan and Chinese brands lead a global price war to attract buyers

Car dealers take ₹2.5K cr cess blow, turn to original equipment makers

Industry estimates impact for every dealer at ₹3-5 crore

Hyundai to hike employee salaries by ₹31,000 per month over 3 years

Hyundai Motor India and the United Union of Hyundai Employees have signed a three-year wage settlement effective April 2024, offering an industry-best salary hike and enhanced employee welfare

Hyundai looks at 'double engine' boost on growth post GST rate cut

With the GST rate cuts expected to bring domestic sales back on a growth path, Hyundai Motor India Ltd is looking to ride on a 'double engine' drive of accelerated sales in the home market and continued momentum in exports, according to a top company official. In the last six to eight months, when the domestic market was slightly sluggish, the company had pressed the accelerator on exports in contrast to the last few years when the focus was on meeting demand in India due to capacity constraints, Hyundai Motor India Ltd (HMIL) Whole-time Director and Chief Operating Officer Tarun Garg said in an interaction. The company's domestic sales in the April-August period this fiscal were down 11.2 per cent at 2,20,233 units as against 2,47,992 units in the same period last fiscal. On the other hand, exports in the April-August period this fiscal grew by 12.45 per cent at 80,740 units as compared to 71,800 units in the year-ago period. "We have been very strong in export, but in the last fe

Hyundai CEO says Georgia battery plant faces 2-3 month delay after raid

The plant, one of the major industrial sites that South Korean companies are currently building in the US, was slated to begin operations later this year

S Korean workers released after days of detention in Georgia return home

A plane carrying more than 300 South Korean workers released after days of detention in Georgia landed in South Korea on Friday. TV footage showed the charter plane, a Boeing 747-8i from Korean Air, landing in Incheon International Airport, just west of Seoul, on Friday. The footage later showed workers, some wearing masks, passing an arrival hall, with senior officials clapping hands. The South Korean Foreign Ministry asked media to blur the workers' faces in video and photos at the airport, citing requests by the workers who worried about their privacy. They were among about 475 people detained during the Sept. 4 immigration raid at a battery factory under construction on the campus of Hyundai's sprawling auto plant west of Savannah. The US release of video showing some Korean workers shackled with chains around their hands, ankles and waists has caused public outrage and a sense of betrayal in South Korea, a key US ally. South Korea later said it has a reached an agreement with

South Korean plane heads to US to bring workers detained during ICE raid

A South Korean charter plane left for the US on Wednesday to bring back Korean workers detained in an immigration raid in Georgia. A total of 475 workers, more than 300 of them South Koreans, were rounded up in the Sept 4 raid at the battery factory under construction at Hyundai's sprawling auto plant west of Savannah. Some were shown shackled with chains around their hands, ankles and waists in video released by US authorities. South Korea's government later said it reached an agreement with the US for the release of the workers. South Korean TV footage showed what it said was the charter plane taking off at Incheon International Airport, just west of Seoul, on Wednesday morning. The plane will return to South Korean with the detained workers on Thursday afternoon, media reports said. The workplace raid by the US Homeland Security agency was its largest yet as it pursues its mass deportation agenda. It targeted Georgia, where many large South Korean businesses operate and plan fut

Trump asks foreign firms to respect US immigration laws after Hyundai raid

Donald Trump calls on global companies to hire and train Americans, respect immigration rules, after ICE detains 475 workers at Hyundai's Georgia plant

GST reforms: Hyundai Motor India set to cut prices by up to ₹2.4 lakh

Hyundai to cut prices of Verna, Creta, Venue, i20 and Tucson by up to ₹2.40 lakh from Sept 22 after GST rate cut, making cars more affordable this festive season

S Korea to bring home 300 workers detained in Hyundai plant raid in Georgia

More than 300 South Korean workers detained following a massive immigration raid at a Hyundai plant in Georgia will be released and brought home, the South Korean government announced Sunday. Kang Hoon-sik, chief of staff for President Lee Jae Myung, said that South Korea and the US had finalised negotiations on the workers' release. He said South Korea plans to send a charter plane to bring the workers home as soon as remaining administrative steps are completed. Foreign Minister Cho Hyun is to leave for the US on Monday for talks related to the workers' releases, South Korean media reported. US immigration authorities said Friday they detained 475 people, most of them South Korean nationals, when hundreds of federal agents raided Hyundai's sprawling manufacturing site in Georgia where the Korean automaker makes electric vehicles. Agents focused on a plant that is still under construction at which Hyundai has partnered with LG Energy Solution to produce batteries that power EVs. C

Hyundai to cut prices by up to ₹2.4 lakh; Tata Motors by ₹4.65 lakh on CVs

Hyundai Motor India on Sunday said it has reduced prices of its entire model range by up to Rs 2.4 lakh to pass on the GST rate cut benefit to customers. The company said the price cut ranging between Rs 60,640 on Verna to Rs 2.4 lakh on premium SUV Tucson will be applicable from September 22. "This reform is not only a boost to the automotive industry but also a strong step towards empowering millions of customers by making personal mobility more affordable and accessible," Unsoo Kim, Managing Director, Hyundai Motor India, stated. In a separate statement, Tata Motors said it will pass on the full benefit of the GST reduction on its entire commercial vehicle range to customers, effective September 22, 2025, when the revised rates come into effect. The Mumbai-based auto major said prices of CV range would come down in the range of Rs 30,000 to Rs 4.65 lakh. The company has already announced a price cut in its passenger vehicle portfolio.

Ola Electric auditor flags 'material weakness' in inventory controls

Ola Electric's auditor flagged weak inventory controls at its main unit, as SoftBank and automakers cut stakes and regulators probe sales and consumer complaints

US immigration agents arrest hundreds in raid at Georgia Hyundai plant

immigration officials, making it the largest single-site enforcement operation in the US Department of Homeland Security's (DHS) history

Nomura backs auto rally post-GST cut; M&M, TVS Motor, Hyundai in fast lane

Nomura expects the GST cut to spark a volume surge of 5-10 per cent across categories, with passenger vehicles (PVs) and two-wheelers leading the growth.

Bright spots emerge in corporate earnings as tariff uncertainty lingers

Companies have reported over July 16-22 a combined full-year loss of as much as $7.8 billion, with the automotive, aerospace and pharmaceutical sectors being hurt most by tariffs