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Time of India
8 hours ago
- Business
- Time of India
Hyundai sells Rs 552 crore Ola Electric stake
MUMBAI: Hyundai Motor on Tuesday sold its entire 2.5% stake in Ola Electric for Rs 552 crore. Through another trade, Kia Corp, also a Hyundai group arm, sold about 2.7 crore Ola shares for Rs 137 crore, data released by NSE showed. TNN Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Bloomberg
14 hours ago
- Business
- Bloomberg
Hyundai, Kia Sell Stake in Ola Electric, Exacerbating Share Slump
South Korean automakers Hyundai Motor Co. and Kia Corp. sold about 136 million shares in Ola Electric Mobility Ltd. on Tuesday, just days after the Indian e-scooter firm posted quarterly losses that had more than doubled. While Hyundai offloaded 108.8 million shares at an average price of 50.7 rupees (59 cents), Kia sold 27.17 million shares at 50.55 rupees a share, according to bulk deals data from the NSE website. Citigroup Global Markets Mauritius Pvt. bought 86.15 million shares, the data show.
Korea Herald
23-05-2025
- Automotive
- Korea Herald
Kia's EV3 earns top safety rating in Euro NCAP crash test
Kia Corp. said Friday its EV3 compact electric sport utility vehicle has received the highest rating in the European New Car Assessment Programme, a key safety benchmark for vehicles sold in Europe. The EV3 was recognized for its cabin integrity during crash scenarios and for its suite of advanced safety features. In particular, the model earned top marks in the side-impact test under the adult occupant protection category. Launched in 1997, Euro NCAP conducts rigorous crash and safety performance tests on vehicles sold in the European market and publishes annual results. The EV3 was also praised for its driver condition monitoring system and automatic emergency call system, among other features. Kia said the rating applies to EV3 models equipped with the DriveWise advanced driver assistant system pack, which includes forward collision-avoidance assist and highway driving assist 2 features. With the result, Kia's entire electric lineup has achieved the top safety rating from the Euro NCAP. (Yonhap)
Business Recorder
29-04-2025
- Automotive
- Business Recorder
South Korean shares hit one-month high as automakers climb on tariff hopes
SEOUL: Round-up of South Korean financial markets: South Korean shares track Wall Street lower, but set for weekly gain South Korean shares rose for a third consecutive session and hit a one-month high on Tuesday, driven by automakers as investors took relief in signs that US President Donald Trump's tariffs may have a milder impact than feared. The benchmark KOSPI was up 9.91 points, or 0.4%, at 2,558.77, as of 0134 GMT, and hit its highest level since March 28. Trump's administration will move to reduce the impact of automotive tariffs by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said. South Korea's exports are expected to have fallen in April, as Trump's tariffs, including those on autos and steel, started to weigh, a Reuters poll found. Shares of Hyundai Motor added 0.85% and sister automaker Kia Corp gained 1.35%, leading gains in the benchmark index. The auto sector is expected to be hit hardest by US tariffs. Among other index heavyweights, chipmaker Samsung Electronics rose 0.54% and peer SK Hynix lost 0.82%, while battery maker LG Energy Solution climbed 0.29%. Of the total 934 traded issues, 572 shares advanced, while 302 declined. Foreigners were net sellers of shares worth 213.6 billion won ($148.34 million). The won was quoted at 1,439.5 per dollar on the onshore settlement platform, 0.19% lower than its previous close at 1,436.8. In money and debt markets, June futures on three-year treasury bonds rose 0.03 point to 107.76.
South China Morning Post
03-04-2025
- Automotive
- South China Morning Post
BYD to double South Korea sales network in challenge to Hyundai and Kia
BYD plans to increase its sales network in South Korea, a car market dominated by local producers Hyundai Motor and Kia Corp, as it pushes for more deliveries outside its home stronghold of China. Advertisement 'We will increase our sales network to 30 by the end of this year from 15 to meet demand from Korean consumers,' Liu Xueliang, the general manager of BYD's Asia-Pacific auto sales division, said at the Seoul Mobility Show in Ilsan city on Thursday. BYD has not been in the South Korean market for very long. It only debuted its passenger brand of cars in January when it officially launched its Atto 3 electric SUV. While the Chinese auto giant is known for its aggressive marketing and pricing strategies, it is up against strong competition from incumbents. Hyundai and Kia sold some 1.2 million cars in South Korea last year for a 75 per cent market share. BYD introduced its Seal mid-sized sedan at the auto show, with a price starting from 47.5 million won (US$32,400), excluding subsidies. BYD's booth at the Seoul Mobility Show was one of the largest. It also showcased a range of its other models, displaying a total of six vehicles. The Shenzhen-based carmaker has enjoyed a robust start to 2025, with sales up 58 per cent in the first quarter versus the same period of last year. Advertisement Over the course of the past month, BYD has delivered a series of product releases that have generated a huge amount of buzz, including smart driving technology for most of its models at no extra cost and an ultra-fast charging system that can add 400km of range in just five minutes.
