SEOUL, Sept. 21 (Korea Bizwire) – KG Mobility, formerly known as SsangYong Motor Co., said Thursday it is “on track” to achieve an operating profit for the year helped by increased exports of the Torres SUV. Given KG Mobility already shifted to an operating profit in the first half, it is set to report a [...]
SEOUL, Sept. 21 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, on Thursday launched the electric version of the Ray mini car to meet a steady demand for the model. The Ray EV comes with a 35.2 kWh lithium iron phosphate (LFP) battery, and it can travel up to 233 kilometers on a single [...]
SEOUL, Sept. 20 (Korea Bizwire) – Hyundai Motor Group said Wednesday it will speed up the construction of its electric vehicle (EV) and battery plant in the United States to benefit from tax credits for locally produced EVs. Hyundai President and Global Chief Operating Officer Jose Munoz made the remarks in Atlanta after the South [...]
SEOUL, Sept. 20 (Korea Bizwire) — KG Mobility, formerly known as SsangYong Motor Co., on Wednesday launched the all-electric Torres EVX SUV in the domestic market to beef up its product lineup. The Torres EVX SUV is KG Mobility’s second battery-powered model after the Korando Emotion launched in the domestic market in February 2022. KG [...]
SEOUL, Sept.11(Korea Bizwire) – German automakers continue to maintain their stronghold in the South Korean import car market, and this dominance extends to the realm of electric vehicle (EV) sales as well. Recent import vehicle registration data from the Korea Association of Imported Automobile Manufacturers (KAIDA) released on Sunday reveals a substantial uptick in the number [...]
SEOUL, Sept. 6 (Korea Bizwire) – In the realm of imported automobiles, there has been a noticeable shift in consumer preferences. Interest in diesel sedans and sport utility vehicles (SUVs) is waning, while electric vehicles (EVs) are gaining significant popularity. In particular, the market for imported electric passenger cars saw a significant milestone in August this [...]
SEOUL, Aug. 30 (Korea Bizwire) — Audi Korea announced on Tuesday the launch of the 2023 versions of the Q4 40 e-Tron and Q4 Sportback 40 e-Tron all-electric compact SUVs. The Q4 40 e-Tron and Q4 Sportback 40 e-Tron offer a single-charge range of about 410 kilometers each. This marks an increase of 43 kilometers for [...]
SEOUL, Aug. 25 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, unveiled the design of the all-electric EV5 SUV on Friday, along with its plan to produce the new model at its plant in China. Kia introduced the EV5 during the media day of the 2023 Chengdu International Automobile Industry exhibition, which [...]
SEOUL, Aug. 22 (Korea Bizwire) – The hybrid and battery electric vehicle (EV) market in South Korea continues to expand rapidly. The domestic market for hybrid and battery electric cars (combined new acquisition prices) reached 6.12 trillion won (US$4.56 billion) and 2.27 trillion won, respectively, in the first half of this year, according to data [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean carmakers need to speed up developing all-solid-state lithium batteries and securing electric vehicle-related software capabilities to gain a bigger share in the era of electric vehicles (EVs), an auto industry expert has said. All current EVs are powered by lithium-ion batteries, which can catch fire once they [...]