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Hyundai Amco inks cooperation pact to build Sri Lankan power plant

SEOUL, March 12 (Yonhap) -- Hyundai Amco Co., a South Korean builder with a proven track record in manufacturing plant construction, said Wednesday that it signed a cooperation agreement on building a thermal power plant in Sri Lanka. The deal reached with Sri Lanka Gateway Industries (SLGI) aims to build a 500 megawatt coal-fired plant in Trincomale, some 240 kilometers northeast of Colombo. SLGI has been given a mandate by its government to build the power plant that will cost US$730 million.

Hyundai Motor to launch first battery-powered electric car in 2016

HWASEONG, South Korea (Reuters) - Hyundai Motor Co plans to start selling its first battery-powered electric vehicle (EV) in 2016 as South Korea's champion of fuel-cell cars hedges its bets in next-generation green technology. Hyundai has leant toward engines which turn hydrogen into electricity in response to stricter emissions regulations in markets such as the United States. Research and development partner Kia Motors Corp has focused on rechargeable batteries.

Kia's Soul EV price set at around 42 mln won

SEOUL, March 11 (Yonhap) -- The sales price of the Soul electric vehicle (EV), which offers practical driving range and handling characteristics on par with those of its combustion-engine counterpart, is to be set at around 42 million won (US$39,400), Kia Motors Corp. said Tuesday. The country's second-largest carmaker said the car built on the platform of second generation Soul hatchback will hit the market in South Korea late this week.

Pre-sale orders of new Sonata top 10,000 in three days

SEOUL, March 9 (Yonhap) -- Pre-sale orders for Hyundai Motor Co.'s new Sonata mid-size sedan topped the 10,000 unit mark in three days, the company said Sunday. South Korea's largest carmaker said it had received 10,015 orders for the Sonata LF since Wednesday when it started accepting pre-orders. This is the second largest pre-order tally since it started getting orders for the current generation Sonata YF in September of 2009. That model received 12,787 pre-orders in three days.

Hyundai Motor Group chief stresses design innovation

SEOUL, March 6 (Yonhap) -- The chairman of Hyundai Motor Group emphasized the importance of innovative design in getting ahead in the highly competitive global automobile market while touring production facilities in Europe, the company said Thursday. The world's fifth-largest automotive group said Chung Mong-koo stressed that car design must be innovative yet give off the impression of "class" so as to appeal to consumers.

Hyundai Motor Group head calls for greater competitiveness in Europe

SEOUL, March 5 (Yonhap) -- The head of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, called for greater efforts to enhance competitiveness in Europe as he toured production facilities in Slovakia and the Czech Republic, the company said Wednesday. "The chairman stressed the need to solidify the market presence of Hyundai Motor Co. and Kia Motors Corp. after both have succeeded in expanding market share over the past few years," the company said in a press release. The two are flagship companies of the business group.

Head of Hyundai Motor Group visits Europe to check market conditions

SEOUL, March 4 (Yonhap) -- The head of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, left for Europe Tuesday to inspect production facilities and check overall market conditions that are expected to recover this year. The trip by Chung Mong-koo is the first one overseas by the entrepreneur this year and highlights the importance Hyundai is placing on the vast market.

S. Korean steelmakers to cut prices of car steel plates

SEOUL, March 4 (Yonhap) -- POSCO and Hyundai Steel Co., South Korea's leading steelmakers, will cut the prices of their steel plates for cars starting next month, company officials said Tuesday, a move feared to hit their business performance this year. "In accordance with a request by our parent company Hyundai Motor, we have decided to cut steel plate prices by 80,000 won (US$74.77) per ton in March and April and by 90,000 won per ton from May to July," a Hyundai Steel official said, requesting anonymity.

S. Korea's auto sales rise 5.8 pct in February

SEOUL, March 3 (Yonhap) -- Sales of South Korean automakers rose 5.8 percent last month from a year earlier, due to more working days and a rise in demand for newly released car models. Combined sales of five local car manufacturers, including market leader Hyundai Motor Co., reached 689,100 vehicles in February, up from 651,248 units a year ago. During the same period, domestic sales rose 8.3 percent to 107,004 units, while overseas sales, which count both exports and cars made in foreign countries by local carmakers, were up 5.4 percent to 582,096 units.

Kia Motors' February sales surge 18.2 pct

SEOUL, March 3 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Monday its sales surged 18.2 percent in February from a year ago, helped by more working days than the month before from the Lunar New Year holiday. The carmaker said it sold a total of 242,799 units overall last month, up from 205,341 vehicles tallied a year earlier. Of all cars sold, sales in the home market jumped 6.4 percent on-year to 35,000 units, while overseas sales stood at 207,799, a 20.5 percent increase from February 2013, the company said in a statement.
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