SEOUL, June 18 (Korea Bizwire) – The expected entry of China’s BYD Auto Co. into the South Korean consumer electric vehicle (EV) market this year will likely intensify competition within the low-cost segment of the market, which globally has seen a stagnation in growth as of late due to the so-called EV adoption chasm, according [...]
SEOUL, March 18 (Korea Bizwire) — Kia Corp. has joined hands with a local mobility solution provider to develop a one-stop electric car pickup and charging service. South Korea’s No. 2 carmaker announced on Wednesday that it signed a memorandum of understanding (MOU) with YWMobile Co. to jointly develop an on-demand pickup and charging platform. [...]
SEOUL, Dec. 23 (Korea Bizwire) — LG Electronics Inc. said Wednesday it will launch an electric car parts joint venture worth about US$1 billion next year with Canadian auto parts company Magna International Inc. as it seeks to boost its presence in the auto parts industry. The South Korean electronics giant said it will hold [...]
SEJONG, Nov. 5 (Korea Bizwire) — South Korea has built a hydrogen plant in the country’s western region, the oceans ministry said Tuesday, in a move that could further boost its efforts to support the promotion of hydrogen fuel-cell electric vehicles. The Korea Western Power Co.’s plant in Taean, some 150 kilometers southwest of Seoul, [...]
Gwangyang, Jan. 7 (Korea Bizwire) — To meet rising demand for lithium, a base material for batteries, that is increasing along with the rapid growth of the electric car market, Posco has decided to expand the lithium plant that it plans to build in Gwangyang, South Jeolla Province. Posco’s new lithium business, in which it [...]
SEOUL, Nov. 1 (Korea Bizwire) — Hyundai Motor Co. and SK Networks Co. have joined hands to create new infrastructure for the establishment of an electric car charging station. Hyundai revealed yesterday that it had signed an MOU with SK Networks that would make this possible. According to the MOU, Hyundai will develop high-speed electric [...]
SEOUL, April 19 (Korea Bizwire) — The Ministry of Transport has announced it will conduct crash tests for electric and hydrogen cars for the first time this year. According to the execution plan for the 2018 Korean New Car Assessment Program confirmed by the ministry on Wednesday, renewable energy cars will be subject to crash tests [...]
SEOUL, Mar. 2 (Korea Bizwire) — Experts have warned electric cars could be a new target of insurance fraud due to subsidies provided by the government. According to sources close to the auto industry, the first suspected fraudulent car insurance claim was filed in July of last year. The claimant argued an electric car parked by [...]
SEJONG, Jan. 17 (Korea Bizwire) — The South Korean government is tightening standards for electric car subsidies, with stringent guidelines based on battery life and environment-friendliness entering effect this year. Changes are coming to the electric car market, as the Ministry of Environment said on Wednesday that electric car buyers will receive different government subsidies depending [...]
SEOUL, Dec. 13 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will dramatically beef up its pure-electric car lineup in the next eight years in line with global carmakers’ latest push to go electric. Hyundai Motor Co. and its affiliate Kia Motors Corp. are planning to increase the number of all-electric vehicles to 14 [...]