SEOUL, June 7 (Korea Bizwire) – With the Korea Insurance Development Institute due to reveal its reference net premium rates for electric cars by the end of June, industry watchers are speculating that premiums for EVs will be some 10 percent lower than gasoline or diesel-powered vehicles. The reference premium rate will be based on [...]
SEOUL, May 15 (Korea Bizwire) – All-electric vehicle sales in South Korea posted a nearly nine-fold jump in the first quarter on improving infrastructure and reasonable prices, industry associations said Monday. Carmakers sold a combined 1,729 electric vehicles in the January-March period, soaring from 193 a year earlier, according to data offered by the Korea [...]
DAEGU, April 4 (Korea Bizwire) – As of March 31, the Daegu metropolitan government had received 1,813 applications for EV subsidies, already exceeding the 1,500 that the city had initially planned for 2017. The local government is providing up to 20 million won ($17,885) in official subsidies for electric car purchases this year in addition [...]
SEJONG, Feb. 28 (Korea Bizwire) – The Ministry of Land, Infrastructure and Transport announced a new set of measures Monday to help accommodate the rapidly increasing number of drivers of eco-friendly vehicles in Korea, which includes new rest areas for charging EVs and hydrogen vehicles. These mini rest areas, or multipurpose rest areas, will be [...]
SEOUL, Feb. 16 (Korea Bizwire) – Demand for electric vehicles is skyrocketing this year thanks to new government policies on EV subsidies. According to the Ministry of Environment, the number of EV subsidy applications has already surpassed the 1,200 mark just three weeks after the process began on January 25, which is four times greater [...]
SEJONG, Feb. 9 (Korea Bizwire) – South Korea will build 240 electric vehicle (EV) charging stations at shopping malls and railway stations by the end of 2017 as a way to expand infrastructure for green cars in urban areas, the government said Thursday. According to the Ministry of Trade, Industry and Energy, 230 EV super [...]
SEOUL, Feb. 2 (Korea Bizwire) – General Motors Co. and Tesla Motors Inc. are poised to debut their long-range electric vehicles (EVs) in South Korea this year in a move that could help galvanize the budding local EV market dominated by short-range models, industry sources said Thursday. GM Korea Co., GM’s South Korean unit, is [...]
SEOUL, Jan. 31 (Korea Bizwire) – GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., will begin to sell the Chevrolet Volt electric vehicle in the local market this week, the company said Tuesday. The Volt EV will be available at any Chevrolet dealership here from Wednesday, the company said in [...]
SEOUL, Dec. 21 (Korea Bizwire) – Tesla is unlikely to meet its goal to launch its Korean operations by the end of the year. According to government sources, Tesla had yet to register for a manufacturer’s license – a necessary step in Korea for vehicle sales – as of Tuesday. In order to obtain the [...]
SEOUL, Dec. 12 (Korea Bizwire) – The Ministry of Environment announced Sunday that it plans to support 14,000 new EV purchases in 2017 to push up the number of eco-friendly vehicles on the road. The government subsidy for purchasing a new EV in 2017 was set at 14 million won ($11,936) per vehicle, which is [...]