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European Brands Catch Up with Tesla in S. Korea’s Imported EV Market

European Brands Catch Up with Tesla in S. Korea’s Imported EV Market

SEOUL, April 26 (Korea Bizwire) — South Korea’s imported electric vehicle (EV) market, once dominated by Tesla Inc., is now facing fierce competition with European brands releasing new models. The Ministry of Trade, Industry and Energy and the Korea Automobile Importers & Distributors Association (KAIDA) reported that a total of 5,278 units of imported EV [...]

EV Buyers Get the Jitters amid Heightened Possibility of Reduction in Subsidies

EV Buyers Get the Jitters amid Heightened Possibility of Reduction in Subsidies

SEOUL, Nov. 30 (Korea Bizwire) — Buyers of electric vehicles (EVs) who are waiting for delivery after signing purchase contracts are on edge due to delayed delivery amid the possibility of a reduction in EV subsidies. The Ministry of Environment set next year’s EV distribution target at 235,000 units, twice as high as this year’s [...]