SEOUL, Sept. 26 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a period of slowing demand, a clear divergence in consumer preferences is emerging between South Korea’s domestic market and its export destinations. According to data from the Korea Automobile & Mobility Association (KAMA), small electric vehicles are gaining traction domestically, while [...]
SEOUL, Sept. 19 (Korea Bizwire) – In a significant shift in South Korea’s automotive landscape, imports of Chinese electric vehicles have surpassed the 1 trillion won mark this year, according to data from the Ministry of Trade, Industry and Energy and the Korea International Trade Association. From January to July, South Korea’s battery electric vehicle (BEV) [...]
SEOUL, Sept. 5 (Korea Bizwire) – In the wake of a recent fire in an apartment building’s underground parking lot in Incheon, concerns over electric vehicle (EV) safety have led to a significant drop in used EV prices, particularly for imported models. According to data released on September 3 by Chutcha, a popular used car platform [...]
SEOUL, June 30 (Korea Bizwire) — Despite a number of highly-publicized electric vehicle (EV) fires, the actual number of incidents involving fires and explosions in EVs is actually lower than that among non-EVs, data showed Thursday. According to a data analysis conducted by the Korea Insurance Development Institute (KIDI), the number of accidents caused by [...]
SEOUL, April 24 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s seventh-largest tiremaker by sales, said Monday it has started supplying tires for Chinese electric vehicle startup Leap Motor’s SUV model. Hankook Tire has been providing the high-performance Ventus S1 Evo3 ev product to Leap Motor’s C11 since the first quarter in the [...]
SEOUL, April 18 (Korea Bizwire) — The electric vehicle (EV) market is about to experience fierce price competition as Tesla continues to slash prices worldwide and BYD and Volkswagen introduce entry-level compact EVs, according to a recent report from the Korea Automotive Technology Institute (KATECH). The report, titled “The Beginning of the Era of Electric [...]
SEOUL, March 29 (Korea Bizwire) — The number of applications for the installation of standard electric vehicle (EV) chargers at apartment complexes and workplaces is increasing. Starting in January, the Ministry of Environment has been accepting applications for the installation of common use standard EV chargers directly from the owners and operators of apartments, workplaces [...]
SEOUL, March 23 (Korea Bizwire) — South Korea will be able to source 20,000 tons of lithium hydroxide from domestically recycled electric vehicle (EV) batteries by 2045 as EV purchases will increase, an outlook that calls for strategic efforts to promote the emerging industry given supply chain instability, a report showed Thursday. The projection is [...]
SEOUL, March 14 (Korea Bizwire) — Hyundai Motor Co. was named the most popular electric vehicle (EV) brand for three consecutive years in a survey of domestic consumers, a survey showed Monday. According to the survey of 2,172 adult consumers by the EV Trend Korea, South Korea’s leading electric car expo, 43 percent of the [...]
SEOUL, Feb. 6 (Korea Bizwire) — The amended plans for electric vehicle (EV) subsidies, normally announced in mid-January by the government, were finally announced last week, likely due to delays caused by negotiations over differentiating subsidy plans between imported and domestic cars. The plan stipulates that subsidies will be provided at a rate of 100 [...]