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 [...]
GOYANG, South Korea, May 26 (Korea Bizwire) – South Korean carmaker Hyundai Motor Co. said Thursday it will launch an all-electric bus in the domestic market next year. The move is part of the carmaker’s efforts to diversify its lineup with environmentally friendly vehicles and enhance its brand image in global markets where clean modes [...]
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 [...]
SEOUL, May 2 (Korea Bizwire) – Kia Motors Corp. on Tuesday launched the latest version of the Soul electric vehicle (EV) with an extended range, a move aimed at adding more fuel-efficient models to its lineup. The 2018 Soul EV can travel an average of 180 kilometers on a single charge using its 30-kilowatt-per-hour battery, [...]
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 [...]
SEOUL, March 17 (Korea Bizwire) – Renault Samsung Motors is launching its two-seat (or single-seat) electric vehicle Twizy in June, pledging to sell 1,000 units by the end of the year. First unveiled as a concept car in 2009, the vehicle has a single-charge travel distance of 100 kilometers and a maximum speed of 80 [...]
SEOUL, March 6 (Korea Bizwire) – SK Innovation Co., the country’s top oil refiner, said Monday that its board of directors has approved a proposal to double the company’s electric vehicle (EV) battery production capacity, in order to meet growing demand. The proposal calls for the construction of two EV battery production lines, which will [...]
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 [...]
GOYANG, South Korea, Feb. 27 (Korea Bizwire) – Hyundai Motor Company unveiled its Ioniq plug-in hybrid electric vehicle (PHEV) Monday, completing its trio of Ioniq vehicles. The Ioniq Hybrid was introduced in January of last year, and the Ioniq Electric followed two months later. The new PHEV model uses both an internal combustion engine and [...]
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 [...]