SEOUL, Sept. 28 (Korea Bizwire) — Prices of domestic electric vehicles (EVs) are gaining attention following Tesla Motors Inc.’s recent announcement that it will come up with a new EV model that costs as little as US$25,000 within the next three years. Experts expect that domestic EV manufacturers will need at least four or five [...]
SEOUL, Sept. 16 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker, said Wednesday it will raise the sales ratio of electric vehicles to 25 percent by 2029 by launching dozens of new models in global markets. Kia has sold more than 100,000 units of the Ray, Soul and Niro EV since 2011. “The [...]
SEOUL, Aug. 21 (Korea Bizwire) — With the increasing popularity of electric vehicles (EVs), South Koreans are becoming more concerned with the risk of fire. EV batteries, similarly to energy storage system (ESS) that shocked the country last year due to a series of fire accidents, are lithium-ion batteries. When a non-EV with an internal [...]
SEOUL, Aug. 10 (Korea Bizwire) — Hyundai Motor Co. said Monday it will launch three all-electric models under its EV brand IONIQ by 2024 to gain a share in the rapidly growing EV market. The first model to be released under the IONIQ EV brand will be the Ioniq 5 crossover utility vehicle, the company [...]
SEOUL, July 3 (Korea Bizwire) – Tesla Motors Inc. said Friday it posted explosive sales growth in South Korea this year on the back of growing appetite for electric vehicles and fat subsidies. Tesla sold a total of 7,079 vehicles in the Korean imported passenger car market from January to June, a whopping increase from [...]
SEOUL, June 21 (Korea Bizwire) — General Motors Co. is committed to expanding its position in South Korea by introducing more electric vehicles amid growing appetite for zero-emission cars thanks to improving charging infrastructure and state subsidies, the company has said. In a virtual media briefing held Wednesday, Jesse Ortega, architectural chief engineer at GM’s [...]
SEOUL, June 9 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Tuesday their combined electric vehicle sales jumped 58 percent in the January-May period from a year earlier on demand from Europe. Hyundai and Kia sold 40,182 all-electric vehicles in the first five months, up from 25,454 units in the [...]
SEOUL, May 27 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. became the fourth-largest seller of electric vehicles (EVs) globally in the first quarter of the year, industry data showed Wednesday. Hyundai and Kia sold a combined 24,116 EVs in the January-March period, accounting for 8 percent of the global market, [...]
SEOUL, May 26 (Korea Bizwire) — While sales of imported cars, led by U.S. electric carmaker Tesla Motors Inc.’s Model 3, have jumped, Korean-made electric vehicles (EVs) are being sidelined. The Korea Automobile Manufacturers Association and Korea Automobile Importers & Distributors Association reported a 40.1 percent increase in EV sales between January and April compared [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Monday that it will invest about 65 billion won (US$53 million) to boost production of carbon nanotubes. The investment is set to be completed at the Yeosu plant, about 455 kilometers south of Seoul, by March next year, which would [...]