Money Buzz! Europa

Tag: hyundai

  • Hyundai Motor acquired General Motors (GM) plant in St. Petersburg, Russia

    Hyundai Motor acquired General Motors (GM) plant in St. Petersburg, Russia

    The GM plant in Shushary, a suburb of St. Petersburg, can make up to 100,000 cars a year. It was built in 2008, but closed in 2015, after the American car manufacturer decided to cut its international operations.

    Hyundai and Kia already have a factory in Russia that can produce more than 200,000 cars a year.

    The two companies sold more than 400,000 vehicles on the Russian market last year, more than Avtovaz, Renault’s largest Russian-controlled carmaker.

    Deliveries of cars and light commercial vehicles fell last year in Russia by 2.3% to 1.76 million units, and this year sales are expected to decline by 13.5% to 1.52 million vehicles.

  • Hyundai will start production of the new i30 model in Czechia

    Hyundai will start production of the new i30 model in Czechia

    Hyundai will start production of the new Hyundai i30 model on Monday, May 25, in Nošovice factory, CTK shows.

    The car will have a new design, advanced connectivity features and 48V mild hybrid versions for higher efficiency.

    Nošovice is the only Hyundai plant in the European Union and is considered one of the most modern car manufacturers in Europe.

    The production capacity of the plant is 300.000 vehicles per year. The car manufacturer was followed by several subcontractors to the region and created almost 12,000 jobs. Hyundai Nošovice is the largest foreign investment in the Czech Republic.

    Due to coronavirus pandemic, production in Nošovice was interrupted on Saturday, March 21 and resumed on April 14.

  • Hyundai, Kia and Arrival, an UK startup, will co-develop eco-friendly vans

    Hyundai, Kia and Arrival, an UK startup, will co-develop eco-friendly vans

    • Agreement accelerates Hyundai and Kia’s clean-mobility transformation;
    • €100 million investment enables co-development of eco-friendly vans and other products for logistics, on-demand ride-hailing, and shuttle service companies;
    • Partnership takes advantage of Arrival’s scalable ‘skateboard’ platform technology to underpin future Purpose Built Vehicles (PBV) from Hyundai and Kia;
    • Arrival has developed in-house software, materials, components and other technologies for the development of Generation 2.0 electric vehicles;
    • Boosts Hyundai-Kia strategy for deployment of electrified commercial vehicles.

    Hyundai Motor Company and Kia Motors Corporation announced a strategic investment of €100 million (US $110 million) in a new partnership with Arrival, a UK-based electric vehicle startup.

    Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies.

    Arrival’s scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of Purpose Built Vehicles (PBV).

    The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands’ transformation from car makers to clean-mobility providers.