Page 6 - Hyundai

Hyundai, IIT-M to set up Hydrogen Valley Innovation Hub for green solutions

Auto-maker Hyundai Motor India and the Indian Institute of Technology, Madras here is set establish a Hydrogen Valley Innovation Hub at an outlay of Rs 180 crore, which would promote hydrogen-based clean energy solutions in various applications and sectors. A memorandum of understanding between Hyundai Motor India, IIT-Madras, and the state government's investment promotion agency Guidance Tamil Nadu was signed during the Global Investors Meet held here recently. "The Hydrogen Valley Innovation Hub project, with a total project cost of Rs 180 crore, will be established with an investment of Rs 100 crore by Hyundai Motor India Ltd, towards its capital expenditure requirements," a press release from IIT-Madras said on Friday. The Chennai-based premier research institute would take up the responsibility of setting up the hub at its sprawling campus in the city, and provide both the building as well as research and development infrastructure. IIT-M would also develop a curriculum and b

Hydrogen energy makes a comeback in vehicle conversation at CES 2024

While electric vehicles are gaining the lion's share of the attention for carbon-neutral technology at CES 2024, hydrogen energy has snuck its way back into the conversation thanks to two automotive giants. Hyundai spotlighted its plans for utilizing hydrogen energy at the sprawling tech and gadget show in Las Vegas. Beyond making vehicles powered by hydrogen-powered fuel cells, the South Korean automaker signaled that it could work toward aiding a hydrogen society by expanding into energy production, storage and transportation. It's already technologically feasible, and it will eventually make sense economically, too, Jos Muoz, president and global chief operating officer of Hyundai Motor Co., predicted Monday. Meanwhile, automotive supplier Bosch Mobility plans to launch its first hydrogen combustion engine this year another key step toward reducing global man-made carbon emissions, the company said during its CES 2024 event. Both Bosch and Hyundai say they've been encouraged to

Hyundai Motor debuts air taxi ahead of test flights later this year

The South Korean company will apply for certification of the vehicle in the US by the middle of 2024 with the goal of starting technology demonstrator flights by the end of the year

Hyundai, vendors set to line up Rs 10,000 crore for Talegaon plant

Tata Motors and Ford India signed deal for the latter's Sanand unit for Rs 725 cr in 2022

Semiconductor chip crunch more or less resolved: Hyundai COO Tarun Garg

The company currently sells 13 models, including Creta, Exter and Venue, in India. He said that in 2022, only 18 per cent of the company's models had six airbags as standard

Hyundai and Kia recall nearly 3.4 million vehicles due to fire risk

Hyundai and Kia are recalling nearly 3.4 million vehicles in the U.S. and telling owners to park them outside due to the risk of engine compartment fires. The recalls cover multiple car and SUV models from the 2010 through 2019 model years including Hyundai's Santa Fe SUV and Kia's Sorrento SUV. Documents posted Wednesday by the U.S. National Highway Traffic Safety Administration say the anti-lock brake control module can leak fluid and cause an electrical short, which can touch off a fire while the vehicles are parked or being driven. The automakers are advising owners to park outdoors and away from structures until repairs are done. Dealers will replace the anti-lock brake fuse at no cost to owners. Kia says in documents that it will send notification letters to owners starting Nov. 14. For Hyundai the date is Nov. 21. Hyundai reported 21 fires in the affected vehicles in the U.S., and another 22 thermal incidents including smoke, burning and melting of parts, the documents say.

Hyundai, Kia recall 3.4 mn vehicles due to fire risk, urge to park outdoors

Hyundai and Kia are recalling nearly 3.4 million vehicles in the US and telling owners to park them outside due to the risk of engine compartment fires. The recalls cover multiple car and SUV models from the 2010 through 2019 model years including Hyundai's Santa Fe SUV and Kia's Sorrento SUV. Documents posted Wednesday by the US safety regulators say the anti-lock brake control module can leak fluid and cause an electrical short, which can touch off a fire while the vehicles are parked or being driven. The automakers are advising owners to park outdoors and away from structures until repairs are done. Dealers will replace the anti-lock brake fuse at no cost to owners. Kia says in documents that it will send notification letters to owners starting Nov 14. For Hyundai the date is Nov 21. Messages were left early Wednesday seeking comment from both companies. Affected Kia models include the 2010 through 2019 Borrego, the 2014 to 2016 Cadenza, 2010 through 2013 Forte, Forte Koup and

Hyundai's dealers most satisfied, Maruti at number 2: Fada survey

Kia, which topped the survey in 2022 and 2021, slipped to fifth place in this year's assessment

Higher investment means Hyundai could get $2.1 bn to make EVs in Georgia

The state of Georgia and local governments are on track to give $2.1 billion in tax breaks and other incentives to Hyundai Motor Group after the South Korean automaker and a partner announced last month that it will invest an additional $2 billion at an electric vehicle complex it's building in Georgia. Associated Press calculations show projected incentives will rise by more than $290 million from the $1.8 billion deal originally announced last year. Only $2.75 million of that represents additional cash from the state. The rest will come from increases in tax breaks. The deal calls for Hyundai and battery maker LG Energy Solution to invest $7.6 billion in the Georgia plant and hire 8,500 workers by the end of 2031. That's up from the original job projection of 8,100 at the sprawling electric vehicle and battery complex being built in Ellabell, west of Savannah. It's the largest economic development deal in Georgia history, and comes with the largest incentive package. State leader

Maruti, Hyundai say diesel PV sales may dip with stricter emission norms

Leading carmakers Maruti Suzuki India and Hyundai Motor India on Tuesday said the percentage of diesel cars in passenger vehicle sales is expected to come down with stricter emission regulations, increasing the cost of ownership. On a day when Union Road Transport and Highways Minister Nitin Gadkari spoke of the need to levy an additional 10 per cent tax on diesel-run vehicles to help cut emissions, although clarified that there is no proposal under the government consideration to impose such a tax, the automakers pointed out that already sales of diesel passenger vehicle have been declining. "It is a natural phenomenon that as the emission regulations keep tightening, the cost of acquisition will keep increasing, and this process (decline in diesel vehicle percentage) will be much faster going forward," Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Shashank Srivastava told reporters here on the sidelines of SIAM annual convention. Most manufacturers have ...

Hyundai i20 facelift now starts at Rs 6.99 lakh, drops the turbo-petrol

The turbo petrol will be reserved for the N Line variant of the Hyundai i20 which will be launched at a later date

Hyundai Motor's India unit to buy General Motors' Maharashtra plant

Through its Sriperumbudur facility outside Chennai city, and now the Talegaon plant, Hyundai aims to increase its achieve a cumulative production capacity of one million units per year

Tata Motors leads Indian EV market with a market share of 72%: Canalys

The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22

Hyundai global boss pushes electric vehicle credentials on India visit

HMIL to introduce five EVs by 2032; Kia targets 10% market share

Hyundai Motor preparing for new group leadership position for EVs in India

South Korean automotive group Hyundai Motor is preparing for a "new Group leadership position in EVs" in India given that the country will be a competitive electric vehicle battleground in the years to come, the company said on Tuesday. The group also plans to make its R&D centre in Hyderabad a hub for future mobility research, including electrification and autonomous driving, while it is lining up five electric vehicles to be introduced in India by 2032. In a mid-to-long-term mobility strategy review of the Indian market during the visit of Hyundai Motor Group Executive Chair Euisun Chung to the country, the group said it has discussed the preparations for a "new Group leadership position in EVs" given that India will be a competitive EV battleground in the years to come. The group expects the Indian passenger car market to exceed 50 lakh units by 2030 with SUVs estimated to account for 48 per cent while EVs are expected to reach 10 lakh units. During his two-day tour, Chung ...

Hyundai, Rolls-Royce profit increases; LVMH sales fail to impress

Boeing flipped to a $149 million loss in the second quarter despite higher revenue, as the plane maker struggled with higher costs in both its airline and defense business

Hyundai drives in micro SUV Exter with price starting at Rs 5.99 lakh

Hyundai Motor India on Monday forayed into the entry-level SUV segment in the country with the launch of all-new model Exter, with introductory prices ranging between Rs 5.99 lakh and Rs 9.31 lakh (ex-showroom). The model, which competes directly with Tata Motors Punch, comes powered by a 1.2-litre petrol engine mated with both manual and automatic variants. The five-speed manual trims, which deliver fuel efficiency of 19.4 km per litre are priced between Rs 5.99 lakh and Rs 9.31 lakh. The five-speed automatic variant is tagged at Rs 7.96 lakh with a claimed fuel efficiency of 19.2 km per litre. The CNG trim is priced at Rs 8.23 lakh with an efficiency of 27.1 km per kg. Speaking at the launch, Hyundai Motor India MD and CEO Unsoo Kim said with the launch of Exter, the automaker has now become a full-range SUV manufacturer in the country. He noted that the company has invested Rs 950 crore on the development of the model. Outlining Hyundai's commitment to the Indian market, Kim

Hyundai Motor reports 5% rise in retail sales at 65,601 units in June

Hyundai Motor India Ltd (HMIL) on Saturday said its total wholesales increased 5 per cent to 65,601 units in June 2023. The automaker had dispatched a total of 62,351 units to dealers in June 2022. Domestic sales rose 2 per cent to 50,001 units last month from 49,001 units in the year-ago period, the company said in a statement. Exports in June rose 17 per cent to 15,600 units as compared with 13,350 units in the same month last year, it added. "There is a positive customer traction for all our products and Verna, Creta, and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg noted. The company is now looking forward to introducing Exter SUV in the market, he added.

Hyundai to utilise $5.9 bn in overseas operations' money for EV investments

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 planned investments in domestic EV plants

Hyundai, Kia agree to $200 mn settlement over TikTok car theft challenge

Hyundai and Kia have agreed to a $200 million settlement to resolve class-action litigation with owners of certain Hyundai and Kia vehicles without push-button ignitions