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Hyundai and Kia Join Efforts to Bolster Fire Safety for Electric Vehicles

Hyundai and Kia Join Efforts to Bolster Fire Safety for Electric Vehicles

SEOUL, Mar. 19 (Korea Bizwire) – Hyundai Motor and Kia have formed a partnership with government agencies, academic institutions, and industry associations to develop advanced firefighting technologies aimed at improving the safety of electric vehicles in the event of fires. On March 18, the automakers signed a joint agreement with the National Fire Agency Research Institute, [...]

Hyundai Motor, Kia to Recall Nearly 170,000 EVs over Charging Software Error

Hyundai Motor, Kia to Recall Nearly 170,000 EVs over Charging Software Error

SEOUL, Mar. 14 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. will voluntarily recall nearly 170,000 electric vehicles (EV) to address a software error in the charging system, the government said Thursday. The Ministry of Land, Infrastructure and Transport said 12 car models totaling 232,000 units from Hyundai Motor, Kia, Stellantis Korea and Tesla [...]

Battery Industry Charges Ahead: Breakthroughs Aim to Slash Electric Vehicle Charging Time

Battery Industry Charges Ahead: Breakthroughs Aim to Slash Electric Vehicle Charging Time

SEOUL, Mar. 12 (Korea Bizwire) – In a race against time, the battery sector is making strides towards developing technology that could dramatically speed up the charging process for electric vehicle (EV) batteries. The current benchmark to charge an EV battery to 80% capacity takes anywhere from 30 minutes to an hour, but the goal now [...]

Eco-friendly Car Registrations Overtake LPG Models for 1st Time in 2023: Data

Eco-friendly Car Registrations Overtake LPG Models for 1st Time in 2023: Data

SEOUL, Mar. 4 (Korea Bizwire) — The number of eco-friendly car registrations in South Korea surpassed that of liquefied petroleum gas (LPG) models for the first time last year, according to data Monday. According to data from the Ministry of Land, Infrastructure and Transport, cumulative registration of domestic eco-friendly cars, such as hybrids, electric and [...]

Controversy Surrounds Electric Vehicle Subsidies Amid Allegations of Favoritism Towards Domestic Brands

Controversy Surrounds Electric Vehicle Subsidies Amid Allegations of Favoritism Towards Domestic Brands

SEOUL, Feb. 21 (Korea Bizwire) – Electric vehicle (EV) subsidies in South Korea are facing scrutiny as disparities in subsidy amounts, particularly between Tesla’s Model Y RWD and Hyundai’s Ioniq 6, spark debates on potential favoritism towards domestic car manufacturers. The Ministry of Environment, responsible for the subsidy program, has revamped the subsidy structure to favor [...]

Seoul Boosts Green Mobility with $14 Million Investment in Hydrogen Vehicles and Infrastructure

Seoul Boosts Green Mobility with $14 Million Investment in Hydrogen Vehicles and Infrastructure

SEOUL, Feb. 13 (Korea Bizwire) – The Seoul Metropolitan Government has announced plans to invest approximately 16.6 billion won this year to facilitate the distribution of 102 hydrogen fuel cell cars and 42 hydrogen buses, enhancing the city’s green mobility initiatives.  Starting from February 13, the city will begin accepting applications for hydrogen car purchase support. [...]

Global Battery Market Navigates ‘Chasm’ Amid High Interest Rates and EV Challenges

Global Battery Market Navigates ‘Chasm’ Amid High Interest Rates and EV Challenges

SEOUL, Feb. 13 (Korea Bizwire) – The global battery market is currently navigating a ‘chasm’, a concept introduced by business consultant Geoffrey Moore, which represents a temporary stagnation or decline in demand as cutting-edge technology products transition from early adopters to mainstream markets. This situation is exacerbated by high global interest rates, reductions in electric vehicle [...]

In 2023, Electric Vehicles Accounted for 9.3% of Newly Purchased Cars

In 2023, Electric Vehicles Accounted for 9.3% of Newly Purchased Cars

SEOUL, Feb. 12 (Korea Bizwire) – Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan. The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according [...]

LG Energy Solution Employees Protest Bonus Cuts as Demand for EVs Wanes

LG Energy Solution Employees Protest Bonus Cuts as Demand for EVs Wanes

SEOUL, Feb. 6 (Korea Bizwire) – A number of employees from LG Energy Solution have launched a protest demanding improvements to the bonus system following the company’s decision to significantly reduce this year’s bonuses due to a slowdown in demand for electric vehicles. From February 5 to 29, approximately 1,700 LG Energy Solution employees, through anonymous [...]