SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s battery makers, long buoyed by global demand for electric vehicles, are bracing for a sharp downturn after the United States abruptly ended tax credits for EV purchases, a move analysts warn could choke demand for Korean cells. In a report released Sunday, the Korea Institute for Industrial [...]
SEOUL, July 30 (Korea Bizwire) — SK Innovation Co., South Korea’s leading oil refiner, said Wednesday it will merge two electric vehicle-related affiliates as part of a business reorganization amid slowing EV sales. SK On Co., the company’s EV battery manufacturing unit, will absorb SK Enmove Co., a provider of EV lubricants and thermal management [...]
SEOUL, June 17 (Korea Bizwire) — For the first time in South Korean history, eco-friendly vehicles—including electric, hybrid, and plug-in hybrid models—surpassed internal combustion engine (ICE) vehicles in domestic monthly sales, signaling a significant market shift as electric vehicle (EV) concerns begin to ease. According to data released Tuesday by the Ministry of Trade, Industry [...]
SEOUL, April 9 (Korea Bizwire) — Global demand for electric vehicle (EV) batteries rose sharply in the first two months of 2025, driven largely by the continued expansion of China’s battery giants, even as the broader EV market faces a temporary slowdown, often referred to as the “EV chasm.” South Korea’s major battery manufacturers, however, [...]
SEOUL, March 21 (Korea Bizwire) — Hyundai Motor Group is accelerating efforts to expand its production footprint in the United States, amid U.S. President Donald Trump’s continued call for foreign companies to manufacture in the country to do business there, according to industry observers Friday. According to the industry sources, the group plans to hold [...]
SEOUL, March 18 (Korea Bizwire) — South Korea will increase subsidies for electric motorcycles that offer faster charging speeds and enhanced battery status monitoring, the Ministry of Environment announced Monday. Under the newly finalized 2025 subsidy guidelines, electric motorcycles equipped with 3kW fast-charging capability or a battery status display/app integration will be eligible for an [...]
SEOUL, March 10 (Korea Bizwire) — In the race to solve overheating challenges in electric vehicle batteries, immersion cooling technology—already gaining traction in data centers and energy storage systems—is emerging as a promising solution. Immersion cooling uses non-conductive cooling fluids to disperse heat from EV batteries, data centers, and energy storage systems. The technology offers superior [...]
A Media Snippet accompanying this announcement is available by clicking on this link. XPENG officially enters the Indonesian market, marking a significant milestone in its global expansion, supported by Erajaya Active Lifestyle (ERAL). XPENG will initiate its localized production strategy starting with Indonesia, focusing on the X9 and G6 models in the second half of [...]
SEOUL, Feb. 26 (Korea Bizwire) — Emergency roadside assistance for electric vehicles (EVs) varies significantly by season, with winter dominated by towing requests and summer seeing a surge in tire puncture repairs, according to a recent study. The Traffic and Climate Research Center at Hyundai Marine & Fire Insurance analyzed two years of data from [...]
SEOUL, Feb. 26 (Korea Bizwire) — Global automakers are rolling out lower-priced electric vehicles this year despite facing a temporary plateau in demand, known in the industry as a “chasm.” The strategy aims to attract cost-conscious consumers while securing market share ahead of widespread EV adoption. According to industry sources on February 24, Kia plans to unveil [...]