Hyundai and Kia’s Electrification Strategy and Korean Market Trends GlobalData's 5-year forecast: Expanding EV production, diversifying export destinations Summary GlobalData Production Forecast: Korea’s light vehicle production to remain at around 3.7 million units by 2030 Electrification goals of the Korean government Hyundai-Kia's electrification strategy Hyundai-Kia Motor Group GM Korea Renault Korea (formerly Renault Samsung) KG Mobility...

Market & Tech Reports  Updated at: 2025/10/23

lers, there is a system that provides a subsidy of IDR 10 million to cover the cost of converting an ICE to an EV, which means that the subsidy will cover everything except the cost of purchasing the battery. To qualify for subsidies, the local content rate must be at least 40%, and only Wuling and Hyundai are able to meet this requirement at this time. Kawasaki Ninja electric model   BYD and other Chinese EV manufacturers have receiv...

Market & Tech Reports  Updated at: 2025/08/20

Togliatti, Kaluga, and St. Petersburg in 2022. These include Faurecia Interior Tolyatti, Faurecia Interior Luga, and Faurecia Automotive Development, in addition to the two companies recently acquired by Format Invest, described above. Its major customers in Russia included AvtoVAZ, Renault-Nissan, Hyundai-Kia, and Volkswagen. Format Invest was established in June 2023. The main owners are the management of Faurecia's Russian subsidiary. France: ...

Market & Tech Reports  Updated at: 2025/08/06

〇 SAIC-GM-Wuling Wuling Xingguang 2024 D 〇 SAIC-GM-Wuling Wuling Bingo 2023 B 〇 Changan Auto Qiyuan A07 2023 D 〇 BYD Yangwang U9 2024 F 〇 BYD Seal  2022 D 〇 BYD Seagull / Dolphin Mini 2023 A 〇 Li Auto Li L6 2024 D 〇 Leapmotor C16 2024 D 〇 Korea Hyundai Kona Electric 2023 C 〇 Japan Honda Acura ZDX 2024 D 〇 Nissan Sakura 2022 A 〇 Toyota bZ3 2023 D 〇 Efforts to improve t...

Market & Tech Reports  Updated at: 2025/07/08

nologi Mobilitas Tbk (VKTR), a subsidiary of an Indonesian industrial conglomerate, has started the construction of a commercial electric vehicle production facility.   In addition to EV production, Indonesia focuses on local production of EV batteries by utilizing nickel ore found in the country. Hyundai Motor Group and LG Energy Solution, a collaboration of SAIC Group and CATL with a local manufacturer, as well as Indonesia Battery Corporation...

Market & Tech Reports  Updated at: 2025/06/13

Bangkok International Motor Show 2025 (2) Japanese & European OEMs Mitsubishi, Mazda, Honda, Nissan, Suzuki, Isuzu, and others Summary Mitsubishi: Xforce HEV Mazda: Iconic SP compact electric sports car Honda: e:N1 and City Hatchback DRIVAL Nissan: Serena e-POWER Suzuki: Swift and Carry Isuzu: Dragon Max pickup truck Toyota: Hilux Champ, Lexus RX 450h+ PHEV Ford: Everest Sport Special Edition Hyundai: N Line Series Volvo: XC90 PHEV and EX90 BEV ...

Market & Tech Reports  Updated at: 2025/05/08

illion investment to build a new plant in Southfield, Michigan, U.S. The new 180,000-square-foot plant will be operated by Autoliv's Michigan subsidiary, which currently operates four plants. Main customers:   In 2024, sales to the top six customer companies/groups (VW, Toyota, Stellantis, Honda, Hyundai, and Ford) accounted for 51% of total sales, and sales to the top 11 customers (GM, Nissan, Mercedes-Benz, BMW, and Renault in addition to the...

Market & Tech Reports  Updated at: 2025/04/24

Hyundai and Kia: Expanding HEV/EV models, strengthening US business Hyundai strengthening HEV & hydrogen strategy, Kia pursuing EV & PBV market strategy Summary Hyundai Motor Group global sales volume Hyundai Group production sites (after 2024) Hyundai's mid- to long-term plan: Strengthening development of HEVs and EREVs, expanding to 21 EV models Kia's mid- to long-term plan: Investing KRW 38 trillion over 5 years in electrification, PBV, and SD...

Market & Tech Reports  Updated at: 2025/04/07

Indonesia International Motor Show 2025 (IIMS 2025) Chinese OEMs, Japanese OEMS, Hyundai, VinFast exhibits; charging network Summary Wuling: Top in local EV sales with launch of Air EV and Cloud EV BYD: Promoting the Sealion 7, local plant to start production in January 2026 GAC Aion: Aion V debut Chery: Unveiling Tiggo, Jaecoo, Omoda, and Jetour electric vehicles Geely: Re-entering the Indonesian market with CKD production of the EX5 Honri: Maki...

Market & Tech Reports  Updated at: 2025/03/31

dia, China, and ASEAN OverviewIndia's motorcycle production over 21 million units; electric motorcycle OEMs make great strides https://www.marklines.com/en/report/rep2723_202409 ASEAN (1) EV Promotion Policies; Increasing Entry of Chinese OEMsThailand: BYD and Wuling begin EV production, Indonesia: Hyundai and LGES build JV battery plant https://www.marklines.com/en/report/rep2720_202408 GAIKINDO Indonesia International Auto Show 2024Emerging for...

Market & Tech Reports  Updated at: 2024/11/26

100% in Europe, 30% in Japan, and 30% in India, and battery-lean BEVs/HEVs would be developed. In India, the company plans to develop engines for biogas ICE vehicles and build biogas production plants (Manesar Plant to begin operation in July 2024, with four plants in Gujarat from 2025 onwards).   Hyundai Hyundai Motor Company initially planned to sell 1.87 million EVs per year by 2030, but in June 2023 it announced an acceleration of its EV shi...

Market & Tech Reports  Updated at: 2024/10/18

ASEAN (1) EV Promotion Policies; Increasing Entry of Chinese OEMs Thailand: BYD and Wuling begin EV production, Indonesia: Hyundai and LGES build JV battery plant Summary Electrification policies and EV launch plans of ASEAN countries (Overview) Introducing EVs to the ASEAN market and building manufacturing sites Thailand's electrification policy: New EV preferential policies to be implemented from 2024 to 2027 Indonesia's electrification policie...

Market & Tech Reports  Updated at: 2024/09/04

GAIKINDO Indonesia International Auto Show 2024 Emerging forces such as Chinese manufacturers, Hyundai, and VinFast are on the rise Summary BYD: Debut of the “M6”, an MPV-type EV Wuling: Locally produced flagship models A, B, C (Air ev, Binguo EV, Cloud EV) GAC Aion: Debut of the Hyptec HT and Aion ES Chery Automobile: iCAR 03, an off-road SUV EV Great Wall Motor (GWM): Launches new models Haval Jolion and Tank 300 Dongfeng (DFSK)/SERES: Sell...

Market & Tech Reports  Updated at: 2024/08/30

Korean Market and OEM Activities: Slowdown in EV Demand, Expanding HV lineup Hyundai and Kia to build EV plants in Korea, battery joint venture plants with LGES/SK On in the US Summary Korean government: Aiming to have 4.2 million EVs on the road by 2030, continuing EV subsidies in 2024 Korean vehicle production capacity is 4.48 million units, Hyundai and Kia building EV dedicated plants Hyundai Motor Group’s electrification strategy Hyundai Mo...

Market & Tech Reports  Updated at: 2024/07/25

l be operated by Autoliv's Michigan subsidiary, which currently operates four plants. Main customers:   In 2023, sales to its top 5 customer companies/groups (Renault/Nissan/Mitsubishi, Stellantis, Volkswagen, Toyota, and Honda) accounted for 48% of total sales, and sales to the top 10 customers (Hyundai/Kia, Ford, General Motors, Mercedes-Benz, and BMW in addition to the above 5 customers) accounted for 78% of the company’s sales.   Joyson ...

Market & Tech Reports  Updated at: 2024/04/25

Indonesia: BYD, MG, Great Wall, Chery and VinFast entering EV market Tax incentives to continue, utilizing nickel to build EV ecosystem Summary Electrification policy: Tax incentives for EVs to continue in 2024 EV sales in Indonesia: 2023 sales increase 40% to 17,000 units Utilizing nickel ore to make Indonesia EV battery production hub Mitsubishi, Hyundai to increase production capacity, Citroen, BYD, Neta to start local manufacturing 2023 sales...

Market & Tech Reports  Updated at: 2024/04/12

are still quite a few 6-speed ATs in Japanese cars, mainly Lexus models, and the Toyota 4Runner has a 5-speed (corresponding to 1% in the figure). Toyota and Honda also provide vehicles with 10-speed ATs, and around 100,000 units of each of the Tundra, Pilot, and Odyssey are sold annually.   Some Hyundai, Kia, and Genesis models are HEVs, and they have 6-speed ATs, but all their other ATs are standardized to 8-speeds. Although some grades of Ko...

Market & Tech Reports  Updated at: 2024/03/21

(infrared and blue) developed with Furukawa Electric Co., Ltd. (Note: TIG stands for tungsten inert gas and is technically called gas tungsten arc welding (GTAW).)   Nittoku's hairpin type stator manufacturing facilities are already in operation in Korea and China, and the stators are equipped in Hyundai's IONIQ 5 and KONA models.   As for the rotor of the EESM, the company said that it can wind four times faster than the conventional method, ...

Market & Tech Reports  Updated at: 2024/02/15

delivery time for most models has shortened markedly in the recent months, demand is now losing momentum in the face of sticky inflation, falling real wages and global uncertainty. The Korean market surprised on the upside, with the November selling rate accelerating to a strong 1.81 mn units/year. Hyundai’s sales advanced strongly, driven by triple-digit YoY sales growth of the Santa Fe, Grandeur and Kona. Light Commercial Vehicles posted a po...

Market & Tech Reports  Updated at: 2023/12/15

er Halla Visteon Climate Control Corp.) Recent activities [Company and Business Overview] Hanon Systems Corporation (Hanon Systems) is a specialist thermal management supplier of air conditioning equipment and cooling systems, headquartered in Daejeon, South Korea. The company's main customers are Hyundai and Kia, but due to its relationship with the former Visteon, Hanon Systems is building a supply system for global customers such as Ford, Chr...

Market & Tech Reports  Updated at: 2023/11/22