Hyundai Motor, Kia Corp sign agreement with China's Baidu on connected car technology
Technology
Hyundai Motor, Kia Corp sign agreement with China's Baidu on connected car technology
SEOUL (Reuters) - Hyundai Motor (005380.KS), opens new tab and Kia Corp (000270.KS), opens new tab on Sunday said the companies have signed a memorandum of understanding (MOU) with Baidu Inc (9888.HK), opens new tab to develop technologies for connected cars.
Earlier, Hyundai Motor Company announced its business results for the first quarter of 2024. The company’s first-quarter revenue increased 7.6 percent year-over-year to KRW 40.66 trillion, its highest first-quarter revenue.
During the January–March period, the company’s operating profit decreased 2.3 percent year-over-year to KRW 3.56 trillion with operating profit margin of 8.7 percent. Its net profit (including non-controlling interest) was down 1.3 percent to KRW 3.38 trillion.
Hyundai Motor sold 1,006,767 units worldwide in the January–March period, a 1.5 percent decrease from a year earlier. Sales in markets outside Korea were up by 1.9 percent to 846,800 units, backed by solid sales in North America and India.
