SEOUL, March 5 (Korea Bizwire) — U.S. carmaker Tesla Motors Inc. is speeding up expansion in the South Korean market for electric vehicles (EVs) with its Model 3. The Ministry of Land, Infrastructure and Transport reported that Tesla sold 1,433 cars last month, setting a new monthly sales record in South Korea since it joined [...]
SEOUL, Feb. 25 (Korea Bizwire) — Seoul’s Seongdong District announced Monday that it has introduced new charging stations for electric vehicles (EVs) which can be installed at one-seventh of the typical cost. The new charging stations were set up at 64 parking spots in a local public parking lot on February 19. The charging stations [...]
SEOUL, Feb. 10 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday their combined electric vehicle (EV) sales exceeded Volkswagen’s EV sales in global markets last year. Hyundai and Kia, which together form the world’s fifth-biggest carmaker by sales, sold a total of 126,406 electric vehicles in 2019, higher than [...]
SEOUL, Feb. 4 (Korea Bizwire) — The market for electric vehicle (EV) charging stations has been feared by many as an unyielding, unpredictable business, but not for long. The government recently vowed to make the market more accessible for business, and sales and exports of electric vehicles have been on the rise in recent months. [...]
SEOUL, Jan. 25 (Korea Bizwire) — Hyundai Motor Co. said Saturday it will produce hydrogen fuel-cell electric commercial vehicles in its Chinese plant to make inroads into the local electric vehicle market. In the China EV100 Forum held in Beijing from Jan. 10-12, Executive Vice President Lee In-cheon, head of Hyundai’s Commercial Vehicle Business Division, [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Motor Co.’s Kona Electric vehicle has set a Guinness world record for the highest altitude achieved in an electric car, the company said Friday. The Kona Electric built in Hyundai Motor’s Indian plant reached the Saula Himal peak that is 5,731 meters high, beating the previous record height [...]
SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they have invested US$110 million in the U.K.-based electric vehicle startup Arrival as part of their future mobility strategy. Hyundai and Kia have made the investment to jointly develop electric commercial vehicles, such as vans and buses, for [...]
SEOUL, Jan. 14 (Korea Bizwire) — Subsidies offered by different levels of government to prompt the sales and expand the supply of electric vehicles (EVs) are being abused. This is because the subsidy provided per EV paid by local governments is different, and the number of vehicles supported is different. Therefore, a growing number of [...]
SEJONG, Jan. 3 (Korea Bizwire) — South Korea said Friday it will allocate more money to foster the eco-friendly automobile market this year in a long-term plan to have such cars take up a quarter of all car exports by 2030. To further foster the segment, South Korea said it will allocate 950 billion won [...]
SEOUL, Dec. 9 (Korea Bizwire) — Electricfied models reached over 40 percent of Hyundai Motor Co. and Kia Motors Corp.’s environmentally friendly vehicle sales in the January-October period, an automobile association said Monday. In the first 10 months, Hyundai and Kia sold a combined 291,237 eco-friendly models in global markets, according to the data from [...]