Chinese authorities have announced the recall of more than 44,000 South Korean-branded vehicles over “potential safety risks”, in another setback for the South’s automakers already hit by a diplomatic dispute. Authorities on June 23 announced a recall of 43,764 Hyundai Santa Fe models over a defect that can cause the engine to fail. The General … Read more
South Korean car maker Kia Motors said Thursday it will build a new 1.1 billion plant in India, marking its entry into one of the world’s fastest growing markets as sales in neighbouring China have sagged. Kia Motors said in a statement it would manufacture up to 300,000 cars a year at the new factory … Read more
Headed for a fourth straight annual profit decline, Hyundai Motor (005380. KS) is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees, executives told Reuters. The South Korean automaker has been hit by its exposure to weak emerging markets, and a product line-up that features more … Read more