SEOUL, Sept. 26 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a period of slowing demand, a clear divergence in consumer preferences is emerging between South Korea’s domestic market and its export destinations. According to data from the Korea Automobile & Mobility Association (KAMA), small electric vehicles are gaining traction domestically, while [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automotive companies, said Thursday they have launched a joint project to develop cathode material technology for producing LFP (lithium iron phosphate) batteries for electric vehicles. The joint project, also involving Hyundai Steel Co. and Ecopro BM Co., aims to develop [...]
SEOUL, Sept. 24 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it has released a revamped version of its high-performance Ioniq 5 N electric vehicle with a suite of convenience features based on customer feedback. The 2025 Ioniq 5 N includes enhancements to its N Drift Optimizer, which assists in drift driving. Hyundai has expanded [...]
SEOUL, Sept. 19 (Korea Bizwire) – In a significant shift in South Korea’s automotive landscape, imports of Chinese electric vehicles have surpassed the 1 trillion won mark this year, according to data from the Ministry of Trade, Industry and Energy and the Korea International Trade Association. From January to July, South Korea’s battery electric vehicle (BEV) [...]
SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership. At the heart of [...]
SEOUL, Sept.16 (Korea Bizwire) – As Hyundai Motor Company recently announced plans to mass-produce extended-range electric vehicles (EREVs), the battery industry is closely watching the potential impact of this emerging technology. While the market viability of EREVs remains to be fully proven, there’s growing optimism that the expansion of this sector could provide a much-needed boost [...]
BUSAN, Sept. 10 (Korea Bizwire) — An electric bike caught fire while being charged at a convention center in the southeastern port city of Busan, but sprinklers helped put out the flames, officials said Tuesday. The blaze occurred at 10:15 p.m. Monday at an underground parking lot at Bexco, an exhibition and convention center in [...]
SEOUL, Sept. 10 (Korea Bizwire) – In a move to address growing safety concerns and maintain customer loyalty, Mercedes-Benz Korea announced on September 9 that it plans to distribute charging vouchers worth 300,000 won to owners of its electric vehicles. Mathias Vaitl, president of Mercedes-Benz Korea, communicated this decision in an email titled “A Message of [...]
SEOUL, Sept. 9 (Korea Bizwire) — The transport ministry said Monday it plans to issue a legislative notice for new government regulations regarding electric vehicle (EV) safety announced last week in response to public concerns over EV fires. The ministry said the legislative notice for amendments to the enforcement regulations of the Automobile Management Act [...]
SEOUL, Sept. 6 (Korea Bizwire) – The government said Friday it will conduct prior safety checks on electric vehicle (EV) batteries and require EV makers to disclose their battery brands to address public concerns about spontaneous fires in EVs. The plan was finalized during a government meeting led by Prime Minister Han Duck-soo as part [...]