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Tag: hyundai

  • Hyundai IPO Sees Lukewarm Response From Investors On Day 1 | Companies News

    New Delhi: The initial public offering (IPO) of Hyundai Motor India saw a lukewarm response from investors on Tuesday, with the issue subscribed 0.18 times or 18 per cent on Day 1 of the subscription.  

    The company aims to raise up to Rs 27,870 crore, making it the largest-ever IPO of the Indian equity market history since 2022, when Life Insurance Corporation of India (LIC) raised Rs 21,000 crore.

    It is open till October 17, and the IPO price band has been fixed at Rs 1,865- Rs 1,960 per share.

    One lot of Hyundai Motor India’s IPO has seven shares. After the subscription window closes, the share allotment is expected to be finalised on October 18. The shares will be credited to demat accounts on October 21.

    Hyundai Motor India shares are likely to debut on stock exchanges on October 22. The maiden share sale will be a full offer for sale (OFS). It is the first offer from an automaker to list in India in over two decades and the entire proceeds will go to the promoter.

    Hyundai Motor India raised approximately Rs 8,315 crore from anchor investors on Monday, ahead of its IPO. The company allotted 4.24 crore shares at Rs 1,960 apiece to 225 anchor investors, according to the company statement.

    Hyundai Motor India held a 14.6 per cent market share in the domestic passenger vehicle (PV) market in Q1 FY25, second to Maruti Suzuki which has a 41 per cent share in this category. However, Hyundai Motor India is the market leader by volume in the mid-size SUV segment with around 38 per cent share as on June 2024.

    It is also India’s second-largest exporter of PV from April 2021 till June this year. In FY 2023-24, the company sold 7.77 lakh vehicles, of which 21 per cent was exported to countries like Africa, the Middle East, Europe and Latin America.

    Hyundai Motor India has 1,366 sales points and 1,550 service outlets in India. The company’s revenue in the financial year (FY) 2023-24 was Rs 69,829 crore. During this period, the company made a profit of Rs 6,060 crore and the company’s margin was 13.1 per cent.

    India’s second-largest carmaker’s revenue in the first quarter of FY 2024-25 was Rs 17,344 crore. During this period, the company made a profit of Rs 1,489 crore and the margin was 13.5 per cent.

  • Hyundai Motor, Kia EVs Receive Top Ratings In Major Global Crash Safety Tests | Auto News

    Seoul: Electric vehicle (EV) models produced by South Korea’s Hyundai Motor and Kia have received top ratings in major global car crash safety tests, the automakers said on Sunday. 

    According to the companies, five Hyundai and Kia EV models utilising the E-GMP, Hyundai Motor Group’s proprietary EV platform, achieved the highest rating of five stars in the European New Car Assessment Programme, reports Yonhap news agency.

    The models are the Genesis GV60, Hyundai’s Ioniq 5 and Ioniq 6, and Kia’s EV6 and EV9. The same models also received top-tier ratings in crash evaluations conducted by the Insurance Institute for Highway Safety (IIHS) in the United States.

    The GV60, Ioniq 5, Ioniq 6 and EV6 were awarded the prestigious Top Safety Pick (TSP) Plus rating, while the EV9 earned the Top Safety Pick rating, indicating high levels of safety.

    In last year’s IIHS crash evaluations, 20 Hyundai Motor Group vehicles achieved TSP or higher ratings, marking the highest number among global automotive groups. The recently launched Kia EV3, which also utilizes the E-GMP platform, has not yet undergone safety evaluations in Europe and the U.S.

    “Hyundai Motor Group will continue to invest significant efforts in research and development to ensure the highest level of safety for passengers in all aspects,” a group official said.

    Meanwhile, automotive companies in South Korea are pushing forward with their new electric vehicle launch schedules despite public concerns over EV safety, with key players actively campaigning to debunk unsubstantiated myths surrounding safe charging practices.

    The latest fears surrounding EVs began after a spontaneous fire that began in a parked Mercedes-Benz EV wiped out an entire underground parking garage inside an apartment complex in Incheon, 27 kms west of Seoul, while damaging over 100 cars.

    Hyundai Motor and Kia said that their EV batteries are designed to be safe even when charged to 100 per cent, with the internal battery management system monitoring and controlling any issues that may arise.

  • Road Safety Revolution – Embracing the Better Guy Within |

    The Campaign and Zee’s Association

    The main goal of the “Be the Better Guy” campaign”  is to reduce road accidents and encourage safe driving practices. In 2023, India saw an approximate 11.6% increase in road accidents, despite improvements in road infrastructure and vehicle safety features. The government has taken several steps towards enhancing road safety, but individual actions remain crucial.

    Last year, Hyundai Motor India and Zee News reached out to new and existing drivers at the Noida RTO, informing them about traffic rules, warning signs, and conducting driving tests for new drivers. This year, the campaign continues with a renewed focus on individual responsibility and community involvement.

    The Importance of Being an Empathetic Road User

    Being a road safety hero entails more than just adhering to traffic rules; it requires embodying patience, tolerance, and a spirit of assistance.

    Consider the story of a driver who, upon witnessing a serious accident, stopped to provide first aid and called emergency services, ultimately saving lives. Such acts of empathy and responsibility highlight the profound impact individuals can have on road safety.

    Another example is the group of cyclists in Mumbai who organized awareness rides, promoting helmet use and safe cycling practices. Their efforts have not only increased safety for cyclists but have also fostered a culture of mutual respect among road users.

    Creating a Chain-of-Change: #BeTheBetterGuy


    To create lasting change, we must all commit to being the ‘Better Guy’ on the roads. This means more than just following rules; it means setting an example and inspiring others to do the same. Here’s how you can contribute:


    Buckle Up: Always wear your seat belt, whether you’re driving or a passenger
    Respect Traffic Rules: Follow speed limits diligently and obey traffic signals
    Stay Sober: Never drive under the influence of alcohol or drugs
    Ditch Distractions: Avoid using mobile phones or other distractions while driving
    Prioritize Pedestrians: Show respect for pedestrians by allowing them to cross safely
    Yield to Emergency Vehicles: Clear the path for emergency service vehicles to facilitate their swift passage

    By embracing these guidelines, let’s contribute to making Indian roads safer for everyone, and create a road accident-free society where every journey is a safe journey.

    An Appeal to Join the Movement

    We urge you to be a part of this transformative journey. By sharing your commitment to road safety and encouraging others to do the same, we can create a ‘Chain-of-Change’. Use the hashtag #BeTheBetterGuy to share your stories and inspire others. Remember, it’s not just about following rules; it’s about embodying the values of patience, tolerance, and assistance.

    Together, let’s pave the way for a safer tomorrow. Drive responsibly, understand your social and environmental responsibilities, and let’s be the better guy.

     

     

    (This article is part of IndiaDotCom Pvt Ltd’s Consumer Connect Initiative, a paid publication programme. IDPL claims no editorial involvement and assumes no responsibility, liability or claims for any errors or omissions in the content of the article. The IDPL Editorial team is not responsible for this content.)

  • See If Your Automotive Is One Of The three.4 Million Hyundai & Kia Cars Recalled For Fireplace Dangers

    DETROIT (AP) — Just about 3.4 million Hyundai and Kia cars within the U.S. are beneath recall because of the danger of engine compartment fires and it’s necessary for drivers to test if their automobile is considered one of them.

    Each the firms and federal regulators are caution house owners of the recalled cars to park them open air till upkeep are made. Mail notifications concerning the recollects gained’t start till November, however house owners can test presently to peer if their automobile in at the record — which covers a couple of automobile and SUV fashions from the style years 2010 thru 2019.

    Right here’s what you wish to have to understand concerning the recollects and what to do in case your automobile is impacted by means of it.

    Why are those Hyundai and Kia automobiles getting recalled?

    Consistent with paperwork posted this week by means of the U.S. Nationwide Freeway Visitors Protection Management, an anti-lock brake regulate module in recalled cars can leak fluid and purpose {an electrical} quick, which is able to spark off a fireplace whether or not the automobiles or being pushed, or are parked.

    Hyundai has already reported 21 fires within the U.S. cars, and every other 22 “thermal incidents” together with smoke, burning and melting of portions, in keeping with executive paperwork.

    No comparable crashes or accidents had been reported by means of the firms as of Wednesday.

    Recall record: Is your automobile is affected?

    Affected Kia fashions come with the 2010 thru 2019 Borrego, the 2014 to 2016 Cadenza, 2010 thru 2013 Strong point, Strong point Koup and Sportage, the 2015 to 2018 K900, the 2011 to 2015 Optima, the 2011 to 2013 Optima Hybrid and Soul, the 2012 to 2017 Rio, the 2011 to 2014 Sorento, and the 2010 to 2011 Rondo.

    Hyundai fashions coated by means of the recall come with the 2011 to 2015 Elantra, Genesis Coupe, and Sonata Hybrid, the 2012 to 2015 Accessory, Azera, and Veloster, the 2013 to 2015 Elantra Coupe and Santa Fe, the 2014 to 2015 Equus, the 2010 to 2012 Veracruz, the 2010 to 2013 Tucson, the 2015 Tucson Gasoline Mobile, and the 2013 Santa Fe Recreation.

    Homeowners can move to www.nhtsa.gov/recollects — in addition to Kia and Hyundai’s web sites — and use their 17-digit automobile identity quantity to peer if their automobile is affected. Automakers even have 60 days to inform house owners of recalled cars by means of letter, however the mailings can occur faster, the NHTSA stated.

    My automobile is at the recall record. What do I do?

    Each the automakers and the NHTSA are caution impacted house owners to park their cars open air till upkeep are made. Kia and Hyundai additionally recommended parking the recalled automobiles clear of constructions.

    Sellers will substitute the anti-lock brake fuse without charge to house owners. Kia says in paperwork that it’s going to ship notification letters to house owners beginning Nov. 14. For Hyundai, the notifications will start is Nov. 21.

    Hyundai says that house owners can proceed to pressure the cars. The corporate stated an O-ring within the antilock brake motor shaft can lose sealing energy through the years because of the presence of moisture, dust and dissolved metals within the brake fluid, inflicting leaks. The brand new fuse limits the running present of the brake module, the corporate stated.

    In a separate observation, Kia stated an engine compartment fireplace may occur within the house of the brake regulate unit because of {an electrical} quick that leads to over the top present — however the precise reason behind the fast circuit is unknown.

    Michael Brooks, govt director of the nonprofit Heart for Auto Protection, puzzled why the firms aren’t solving the leak drawback and why they’re ready see you later to ship letters to house owners.

    The treatment is changing one fuse with every other, however brake fluid can nonetheless leak, doubtlessly inflicting a security drawback, he stated. Brooks additionally puzzled why NHTSA is permitting the firms to simply substitute a fuse, and why house owners aren’t being despatched meantime letters right away caution them of a major problem.

    Statements from each firms don’t cope with why the fluid leaks aren’t being repaired or why it’s going to take about two months to inform house owners by means of letter. Spokespeople for each firms stated Wednesday they might glance into the questions.

    NHTSA stated that beneath the federal motor automobile protection act, automakers can select the treatment to mend a defect. The company stated it’s going to observe the effectiveness of the upkeep and open an investigation if warranted.

    What are the observe data of Hyundai and Kia?

    Hyundai and Kia had been plagued by means of fireplace issues since 2015. The Heart for Auto Protection effectively petitioned U.S. regulators to hunt recollects in 2018 and says on its web page that the automakers have recalled greater than 9.2 million cars for fires and engine issues, now not together with the recollects introduced Wednesday.

    As well as, NHTSA is investigating 3 million cars made by means of the automakers from the 2011 thru 2016 style years. NHTSA says it’s won 161 court cases of engine fires, a few of which befell in cars that had already been recalled.

    In June 2018, NHTSA stated it had won proprietor court cases of greater than 3,100 fires, 103 accidents and one dying. Hyundai and Kia had been fined by means of NHTSA in 2020 for shifting too slowly to recall cars that had been liable to engine disasters.

    AP Industry Reporter Wyatte Grantham-Philips contributed to this document from New York.

  • Pilot Stuck In F-Bomb Rant


    Pay attention to a pilot’s unusual expletive-laden rant in opposition to San Francisco and, uh, Hyundai drivers.