10:04 April 20, 2022

LG-Magna plant in Mexico to supply parts for GM electric vehicles

LG Magna e-Powertrain announced on the 20th that it would establish a production plant for electric vehicle parts in Mexico. It is the first overseas plant since LG Electronics established a joint venture with Magna, the world’s third-largest auto parts maker, in July of last year.

According to LG Magna, the new plant will be built by 2023 with a total floor area of 25,000 square meters in Ramos Arizpe, Coahuila, Mexico. The plant plans to produce drive motors and inverters for use in General Motors’ next-generation electric vehicles. The new plant will be the third production base after Incheon in Korea and Nanjing in China, and the company plans to use the Mexican plant as a production base in North America.

For more information, you can check out the below links

Korean article : https://biz.chosun.com/it-science/ict/2022/04/20/AZY4CBCLQVAMNKTGGIT4IYISY4/

English article : https://en.yna.co.kr/view/AEN20220420002700320

2022-March-31

World car production has stopped due to the lack of Wire Harness

Hyundai Motor Company and Kia Motors reduced production, and Volkswagen and others stopped operating their factories altogether. It’s because of the lack of a ‘wire bundle’ called a wiring harness. It is a bundle of wires that connects electronic parts in a vehicle. Even though it is not a part that requires high technology like semiconductors, what is the reason why it is holding the back of the car industry?

According to the auto parts industry on the 30th, companies that produce wiring harnesses leave only research centers and some production facilities in their countries, and all other major production facilities are located in countries with low labor costs, such as China or Southeast Asia. This is because it is a labor-intensive field. The wiring harness acts like a neural network in the human body. It is a part that binds the wires connecting various electric and electronic devices installed in the vehicle by type. Wire bundles grouped by type and role hang like a spider’s web inside the vehicle. There are 1500-2000 wires per vehicle. If all the wires in one unit are connected, the length reaches 2-3 km. According to the Korea Trade-Investment Promotion Agency, the wiring harness market is expected to grow to US$79 billion (about 95.6 trillion won) by 2027.

Hyundai Motor Company and Kia Motors mainly receive wiring harnesses from China. Recently, the Chinese government has entered into a lockdown policy to prevent the spread of COVID-19, and it is difficult to procure harnesses. Although the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs are requesting cooperation from the Chinese government, it is pointed out that more fundamental measures are needed.

For more information you can visit the below link:

Korean article : https://www.hani.co.kr/arti/economy/car/1036969.html

English related article : https://www.reuters.com/business/autos-transportation/lacking-wire-harnesses-ukraine-volkswagen-delays-id5-launch-2022-03-25/

13-April-2022

Electronics Manufacturing Korea 2022 was held  13 April

Electronics Manufacturing Korea 2022 exhibition was held at COEX Hall C in Seoul on the 13th.

Hosted by Lead K Fairs Co., Ltd. and Smart Manufacturing Innovation Association, and sponsored by the Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups, this event was held simultaneously with ‘2022 Automotive World Korea’.

For more information – Korean news article link here :

https://kidd.co.kr/news/226611

Invisible danger, confirmed by ‘sound’

Ultrasonic sound camera to detect compressed air leaks, corona discharges, etc.

https://www.kidd.co.kr/news/226668

A period of great transformation in the automobile industry… Pay attention to ‘new parts’

Reduced mechanical parts and increased battery and fuel cell-related parts

http://www.kidd.co.kr/news/226677

Web site of Electronics Manufacturing Korea 2022 : https://www.electronickorea.com/en-us.html

Here are some of March 2022 news article which is related with Korea automotive business.

March 22, 2022

S. Korea, Turkey seek deeper economic ties via FTA

South Korea and Turkey on Tuesday checked the outcome of their free trade agreement that went into effect nine years ago and discussed ways to further deepen trade and investment ties within the framework, Seoul’s industry ministry said.

For more info : https://en.yna.co.kr/view/AEN20220322003900320

MARCH 24, 2022

Ex-GM manager accused of taking $3 million in bribes from South Korean parts supplier

A former General Motors manager was arrested Thursday in Los Angeles on a charge that he took more than $3 million in bribes from a South Korean parts supplier in return for a major contract with the Detroit automaker.

For more info : https://www.latimes.com/california/story/2022-03-24/general-motors-bribery-indictment-south-korea

Here are some other 2022 April Korea Automotive news :

18 Apr 2022

Hyundai Motor Issues First Community-Based NFT among the Automakers, Highlighting Its Mobility Solutions in the Metaverse

Hyundai Motor Company today announced that it is entering the online community-based Non-Fungible Token (NFT) market in collaboration with the ‘Meta Kongz’ NFT brand.

For more info : https://www.hyundaimotorgroup.com/news/CONT0000000000022738

April 13, 2022

Hyundai Motor to begin electric vehicles production in U.S.

Hyundai Motor Co. plans to add electric vehicles (EV) in its Montgomery assembly line in the United States, marking the South Korean automaker’s first EV production in the country, Hyundai Motor Manufacturing Alabama said on Tuesday.

For more info : https://www.reuters.com/business/autos-transportation/hyundai-motor-begin-electric-vehicles-production-us-2022-04-13/

19th April, 2022

Hyundai Motor India Unveils Its ‘Namaste’ Installation At New Delhi’s IGI Airport

Hyundai Motor India Limited said that the Beyond Mobility installation at the IGI airport is “designed to represent the sustainable future of mobility”.

For more info : https://www.republicworld.com/auto-news/cars/hyundai-motor-india-unveils-its-namaste-installation-at-new-delhis-igi-airport-articleshow.html

April 20, 2022

GM Korea to adjust workforce, production amid chip shortage

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