SEOUL, Sept. 29 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker by sales, plans to launch a new on-demand electric vehicle (EV) charging service that enables customers to have their EVs charged without limits in time and space. On Monday, Kia inked a memorandum of understanding (MOU) with battery diagnosis solution start-up MinTech [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korean manufacturers of electric vehicle (EV) batteries on Wednesday showed mixed reactions to Telsa’s ambitious road map to cut the cost of EV batteries in half. Tesla said its new cylindrical cells would reduce the cost per kilowatt hour by 56 percent and extend its electric vehicle range [...]
SEOUL, Sept. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday that it has decided to spin off its battery business in a move to further boost its leading position in the sector amid growing demand for electric vehicle (EV) batteries. The new entity — tentatively called LG Energy Solutions [...]
SEOUL, Sept. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will hold a board meeting this week to discuss a spinoff of its battery business, people familiar with the matter said Wednesday. LG Chem could finalize its decision on the issue in an emergency board meeting on Thursday, they said. The [...]
SEOUL, Sept. 8 (Korea Bizwire) — Hyundai Motor Group and electric vehicle (EV) battery maker SK Innovation Co. said Tuesday they will cooperate in the EV battery business for win-win synergies. The battery partnership comes as Hyundai and SK Innovation seek to foster future mobility solutions and EV batteries as new growth drivers, respectively. The [...]
SEOUL, Sept. 2 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, became the largest supplier of electric vehicle (EV) batteries in the first seven months of this year, data showed Tuesday. Based on the global usage of EV batteries, LG Chem’s market share stood at 25.1 percent in the January-July period, compared [...]
SEOUL, Aug. 26 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Wednesday it will invest 36 billion won (US$30 million) in expanding its output capacity of electric vehicle components. Hyundai Mobis has already invested more than 300 billion won in EV parts plants in the central city of Chungju — [...]
SEOUL, Aug. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals firm, is seeing its electric vehicle (EV) battery business in full swing on the back of rising orders, industry sources said Monday. The company’s EV battery business posted 5.08 trillion won in sales in the first half of the year, accounting for [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s environment ministry said Sunday that it will revamp a subsidy scheme for electric vehicles (EVs), with the current proposal centering on excluding high-priced EVs from the subsidy recipients. The country’s fat subsidies for EVs have been a major contributor to the popularity of eco-friendly cars. The overhaul [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Wednesday it will expand production capacity of cathodes, a key component for electric vehicle (EV) batteries. POSCO Chemical said the move will boost its annual production capacity of cathodes to 70,000 tons by 2022, which is [...]