SEOUL, Jan. 20 (Korea Bizwire) — South Korea announced plans on Wednesday to reduce the amount of subsidies provided to electric vehicle (EV) purchases in exchange for offering subsidies to a wider line-up. The government said that subsidies will be provided to 207,500 EVs this year, up from 101,000 cars last year. The maximum amount [...]
SEOUL, Dec. 5 (Korea Bizwire) – South Korea will increase the number of electric vehicle chargers at highway service areas nationwide to over 1,000 by the end of 2022, the transport ministry said Sunday. Currently, there are 435 EV chargers at the country’s highway rest stops. The government plans to increase the number to 730 [...]
PUNE, India, Nov. 24 (Korea Bizwire) – Growth Market Reports, a leading market research company, has published a new study on the Electric Vehicle Market by Vehicle Types (Passenger Cars, Commercial Vehicles, and Two Wheelers), Vehicle Class (Mid-Priced and Luxury), Types (Battery Electric Vehicles [BEV], Hybrid Electric Vehicles [HEV], and Plug-In Hybrid Electric Vehicles [PHEV]), and Regions (Asia Pacific, North [...]
SEOUL, Sept. 29 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers accounted for about a third of the global market in the first eight months of the year, but they are facing toughening competition with Chinese rivals, a market research firm said Thursday. The trio — LG Energy Solution Ltd., Samsung SDI [...]
SEOUL, Aug. 23 (Korea Bizwire) — South Korean automaker Hyundai Motor Co.’s electric vehicle (EV) sales increased in the first half of the year compared with a year ago, but its global market share fell in the face of toughening competitions with Chinese rivals, industry data showed Monday. Hyundai Motor was in sixth place in [...]
SEOUL, July 30 (Korea Bizwire) — South Korea will begin notifying electric vehicle (EV) drivers of the availability of charging stations in late August. The Ministry of Environment (ME) signed an agreement with mobility companies Kakao Mobility and T Map Mobility on Thursday to introduce relevant features in Kakao Navigation and T map, the two’s [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s financial regulator said Wednesday that all of the nation’s insurance companies will start selling riders from early next month to offset the entire cost of replacing electric vehicle (EV) batteries. When EV batteries are damaged, partial repair is almost impossible. In most cases, accordingly, batteries need to [...]
SEOUL, July 12 (Korea Bizwire) — Imported electric vehicle sales jumped 65 percent in the first half compared with a year earlier despite an extended COVID-19 pandemic, industry data showed Monday. From January to June, the number of imported EV registrations jumped to 14,295 units from 8,681 in the year-ago period, according to the Korea [...]
SEOUL, May 24 (Korea Bizwire) — With U.S. electric vehicle (EV) maker Tesla Inc.’s sales in South Korea dwindling, Mercedes-Benz, Porsche and other foreign carmakers are surging amidst growing competitiveness in the market for EVs. The Korea Automobile Importers and Distributors Association and Carisyou Data Lab reported a 2 percent increase in EV imports, reaching [...]
SEOUL, May 18 (Korea Bizwire) — State-run utility Korea Electric Power Corp. (KEPCO) has teamed up with Kakao Mobility Corp., the country’s top taxi-hailing company, to provide a new electric vehicle (EV) charging service. The two parties recently signed a memorandum of understanding (MOU) to promote cooperation for the service development needed for the establishment [...]