SEJONG, Jan. 20 (Korea Bizwire) — South Korea’s finance and environment ministries said Monday that they have changed a state subsidy scheme for eco-friendly vehicles to allow buyers of efficient cars to get larger subsidies from this year. Currently, the state subsidy is calculated on an electric car’s battery capability. Under the revised subsidy program, [...]
SEOUL, Jan. 17 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner and chemical company, will soon begin mass production of electric vehicle (EV) batteries that will offer a range of 500 kilometers on a single charge. The company is currently building a new EV battery plant in Georgia, the United States, with the [...]
SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they have invested US$110 million in the U.K.-based electric vehicle startup Arrival as part of their future mobility strategy. Hyundai and Kia have made the investment to jointly develop electric commercial vehicles, such as vans and buses, for [...]
LAS VEGAS, Jan. 7 (Korea Bizwire) — South Korea’s No. 1 telecom company SK Telecom Co. on Tuesday signed a partnership with China-based electric vehicle (EV) maker Byton to develop an in-vehicle infotainment (IVI) system as South Korea’s leading mobile carrier taps deeper into the mobility sector. Under the deal signed at the Consumer Electronics [...]
SEJONG, Jan. 3 (Korea Bizwire) — South Korea said Friday it will allocate more money to foster the eco-friendly automobile market this year in a long-term plan to have such cars take up a quarter of all car exports by 2030. To further foster the segment, South Korea said it will allocate 950 billion won [...]
STAFFORD, Texas, Dec. 6 (Korea Bizwire) — Microvast, Inc., a technology innovator of Li-ion battery solutions, took home a marquee award for developing disruptive battery technologies essential to the electric vehicle industry. For the past 56 years, R&D 100, coined the “Oscars of Innovation,” recognizes revolutionary technologies recently introduced to the market. On Dec 5, [...]
SEOUL, Nov. 11 (Korea Bizwire) — South Korean exports of electric vehicles (EVs) more than doubled in the first 10 months of this year on brisk demand from advanced markets, data showed Monday. The country’s overseas shipments of EVs were valued at US$2.57 billion in the January-October period, up a whopping 103.3 percent from a [...]
SEOUL, Oct. 29 (Korea Bizwire) — Kia Motors Corp. and GS Caltex Corp. said Tuesday they have joined hands to offer better electric vehicle (EV) charging services. Under a bilateral memorandum of understanding, Kia and GS Caltex will collaborate on developing EV charging technologies and services. Kia, South Korea’s No. 2 carmaker and part of [...]
SEOUL, Oct. 15 (Korea Bizwire) — South Korea is aiming to more than double its share of the world’s all-electric and hydrogen-powered vehicle market to 10 percent by 2030 as it strives to foster future mobility as its new growth driver, government officials said Tuesday. Seoul currently accounts for four percent of the pure electric [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries. Nickel and cobalt are key raw materials for cathodes, one of [...]