South Korean market falls by 8% and 12% in the second quater and first half of 2022.

In the first half of 2022, regional sales rose by 2.5% to 703,309 units, although the CV performance of the seven different markets in the region (excludes China) was either very positive or extremely negative.

Phase 2 expansion of the facility will double the company’s production capacity for passenger car and light truck tyres in the U.S. to 11 million units a year, and Phase 3 will introduce a further 1 million Truck Bus and Radial tyres annually.

Iveco Bus has decided to use Hyundai’s latest hydrogen fuel cell engine for its HFC zero emission buses.

The South Korean tyre manufacturer showcased its new hot retreading space, which takes up around 2,000 square metres of the 15,000-square-metre site in Hammelburg

LG Energy Solution Ltd (LGES) Seoul, South Korea, has announced it is to supply traction (EV) batteries to Isuzu Motors Ltd of Shinagawa, Japan in a multi-year deal worth an estimated KRW1trn (USD765m).

The car and van manufacturing corporation has entered into a binding agreement with Samsung SDI to establish a joint-venture battery manufacturing facility in Kokomo, Indiana, USA for powering electric vehicles. 

ZF has acquired a 6% stake in StradVision, whose main product, SVNet, is an AI-driven vision processing technology which allows vehicles to perceive and identify objects around it.

Ford Motor Co, based in Dearborn, Michigan, USA, SK On Co Ltd, based in Seoul, South Korea, and Koç Holding, based in Istanbul, Turkey, have signed a memorandum of understanding for a new joint venture in Turkey. The proposed JV would lead to the creation of one of the largest commercial vehicle electric battery facilities in the European region.

Sales of domestic light commercial vehicles between 2-5 tons gvw dropped by 15% to 41,415 units in the fourth quarter of 2021 from 48,711 units a year earlier, with deliveries affected by supply-chain shortages. Full-year sales were down by 3.7% at 187,487 units from 194,791 units in 2020. 

The South Korean Ministry for Land, Infrastructure & Transport in late December 2021 announced that trials of hydrogen fuel-cell trucks in real logistics operating environments had begun to help determine accurately the full eco-system requirements before these vehicles are introduced commercially.  

Volvo Trucks Korea Co Ltd of Yongsan-gu, Seoul in February announced it plans to introduce a battery-powered heavy-duty truck onto the South Korean market in 2023, as it looks to strengthen its position as the leading imported truck brand in the country.