SEOUL, Feb. 28 (Korea Bizwire) –A recent report has highlighted a significant price disparity between imported and domestic electric vehicles (EVs) in South Korea, with imported models costing more than double on average. The study, conducted by the Korea Automobile Mobility Industry Association (KAMA) and the Korea Imported Automobile Association (KAIDA), also revealed that the [...]
SEOUL, Feb. 21 (Korea Bizwire) – Electric vehicle (EV) subsidies in South Korea are facing scrutiny as disparities in subsidy amounts, particularly between Tesla’s Model Y RWD and Hyundai’s Ioniq 6, spark debates on potential favoritism towards domestic car manufacturers. The Ministry of Environment, responsible for the subsidy program, has revamped the subsidy structure to favor [...]
SEOUL, Feb. 21 (Korea Bizwire) – The South Korean government has announced significant reductions in subsidies for Tesla’s “budget” electric vehicle, the Model Y RWD, which is equipped with lithium iron phosphate (LFP) batteries from China. According to the Ministry of Environment’s finalized guidelines for electric vehicle subsidies released on February 20, the subsidy for the [...]
SEOUL, Feb. 16 (Korea Bizwire) – A number of foreign carmakers in Korea are integrating Tmap navigation systems due to customer complaints about the inadequacy of foreign-made navigation software with Korean road conditions. Recognizing that Tmap’s real-time traffic information and local features better suit Korean consumers, Mercedes-Benz has recently equipped its new E-Class model with Tmap [...]
SEOUL, Feb. 13 (Korea Bizwire) – The Seoul Metropolitan Government has announced plans to invest approximately 16.6 billion won this year to facilitate the distribution of 102 hydrogen fuel cell cars and 42 hydrogen buses, enhancing the city’s green mobility initiatives. Starting from February 13, the city will begin accepting applications for hydrogen car purchase support. [...]
SEOUL, Feb. 12 (Korea Bizwire) – Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan. The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according [...]
SEOUL, Feb. 7 (Korea Bizwire) – The head of the U.S. auto giant General Motors (GM) Co. met with chiefs of Samsung Group affiliates on Wednesday to discuss cooperation in areas involving electric vehicle (EV) batteries and auto electric parts, industry sources said. According to the sources, GM Chair and CEO Mary Barra, who arrived [...]
SEOUL, Feb. 6 (Korea Bizwire) – General Motors CEO Mary Barra will visit Seoul this week to meet with leaders of major South Korean battery makers, industry sources said Tuesday. Barra plans to fly into Seoul on Wednesday to meet with Kim Dong-myung, president of LG Energy Solution Ltd. (LGES), and Choi Yoon-ho, CEO of [...]
SEOUL, Feb. 4 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Sunday it will launch four new vehicles, including two electric models, this year to strengthen its presence in the domestic market. GM Korea plans to introduce two pure electric models — the Cadillac Lyriq SUV and the [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Friday it plans to continue to engage in negotiations with the French government on its new electric vehicle (EV) subsidy policy with “unbiased data,” after it excluded domestically produced models from the program. “The government, along with local companies, will proactively address the French [...]