SEOUL, Dec. 11 (Korea Bizwire) — Hyundai Motor Group and its suppliers will collectively invest 7.6 trillion won (US$6.7 billion) in hydrogen fuel cell electric car-producing facilities and related R&D activities by 2030, the company said Tuesday. Under the so-called hydrogen road map, the business group and 124 partner companies will invest in a plant [...]
SEOUL, Nov. 28 (Korea Bizwire) — Renault Samsung Motors Corp. said Wednesday it will provide more Twizy ultracompact electric cars to a local car sharing service, a move to strengthen its leading stance as an electric vehicle maker. Renault Samsung will gradually supply another 45 Twizy models to the LH Happiness car-sharing service available at [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s top energy-chemical business, said Monday that it will invest 1.14 trillion won (US$1.01 billion) to build an electric vehicle (EV) battery plant in the United States. The company said it has decided to construct the 9.8 gigawatt-hour capacity battery plant in the city of [...]
SEOUL, Nov. 14 (Korea Bizwire) — SK Innovation Co., a South Korean energy-to-construction conglomerate, said Wednesday that it is considering building electric vehicle battery plants in the United States and Europe to meet growing demand for zero-emissions cars. SK Innovation said up to four unidentified areas have been shortlisted for its first plant in the [...]
SEOUL, Oct. 1 (Korea Bizwire) — SK Innovation Co. is said to be in the process of pushing for the establishment of a facility that would build electric car batteries in the U.S. According to industry sources, SK Innovation has been considering a few locations in the U.S. deemed suitable for the plant, but the [...]
SEOUL, Jul. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday it has signed a five-year deal with Nemaska Lithium, a Canadian supplier of lithium hydroxide, a key material in making electric vehicle batteries. The deal allows LG Chem to receive 7,000 tons of lithium hydroxide per year, enough for [...]
SEOUL, Jun. 6 (Korea Bizwire) – The share of electric vehicles (EV) in the sales of eco-friendly vehicles in South Korea has surpassed 20 percent for the first time this year on the back of a wide range of lineups and improved charging infrastructure, industry data showed Wednesday. A total of 5,542 EVs were sold [...]
SEOUL, Mar. 2 (Korea Bizwire) — Local battery makers are rushing to secure a steady supply of cobalt through import diversification and company mergers as the price of the raw material keeps rising, industry sources said Thursday. The international price of cobalt, a core component of batteries used in smartphones and electric vehicles, jumped to [...]
SEOUL, Nov. 20 (Korea Bizwire) — Chinese rechargeable battery and electric vehicle (EV) manufacturers are offering high wages to South Korean engineers, causing concerns among local companies that could face a shortage of skilled workers, industry watchers said Sunday. Sources said that Chinese companies are promising three to four times more pay for skilled engineers [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]