SEOUL, April 11 (Korea Bizwire) – South Korea’s ICT ministry said Monday it will bolster the local electric-car industry by applying nano-technology, in line with its efforts to find new sources of growth amid the prolonged economic slump.
Under the plan, the Ministry of Science, ICT, and Future Planning said it aims to develop an electric car by 2025 that can run up to 500 kilometers on one charge by utilizing nano-technology.
“The development of nano-technology will lend support to the competitiveness of the local manufacturing industry, and generate a new growth engine,” the ministry said, adding the development will also help establish an environment-friendly sustainable society.
The announcement is significant as South Korea’s top automaker Hyundai Motor Co. currently plans to kick off sales of the Ioniq electric that can run around 180 kilometers on a single charge within this year.
The latest vision came in line with the blueprint released by the government on Monday, which also includes various measures to apply nano-technology in local industries through 2025.
The government said it will invest 562.1 billion won (US$490 million) this year to promote the application of nano-technology on not only automobiles, but also in the development of semiconductors and new materials.’