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Hyundai, Kia Eye Domestic EV Sales Rebound in H2 with Entry-class Models

Hyundai, Kia Eye Domestic EV Sales Rebound in H2 with Entry-class Models

SEOUL, Jul. 10 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, are aiming for a rebound in domestic electric vehicle (EV) sales in the second half of the year with reasonably priced new entry-class compact models. According to industry data, Hyundai Motor sold a total of 16,842 EVs domestically in [...]

S. Korea Eyes Closer Ties with Indonesia in EVs, Clean Energy: Trade Minister

S. Korea Eyes Closer Ties with Indonesia in EVs, Clean Energy: Trade Minister

SEOUL, Jul. 3 (Korea Bizwire) — Trade Minister Cheong In-kyo said Wednesday that South Korea hopes to expand economic ties with Indonesia in areas ranging from electric vehicles (EVs) to clean energy. Cheong made the remark during his visit to Jakarta, where he attended a ceremony marking the production of Hyundai Motor Co.’s electric vehicles [...]

Hyundai Motor Strengthening Battery Supply Chain, Manufacturing Capacity to Ensure Longer Driving Range of EVs

Hyundai Motor Strengthening Battery Supply Chain, Manufacturing Capacity to Ensure Longer Driving Range of EVs

SEOUL, Jun. 24 (Korea Bizwire) — Hyundai Motor Group is strengthening its electric vehicle (EV) battery supply chain and internal production capacity, as the world’s third-largest auto group seeks to present price-competitive EV models with better driving ranges. Last week, SQM, a Chilean lithium mining company, announced that it reached a long-term agreement with Hyundai [...]

Hyundai Motor’s Planned Georgia Plant to Focus on EV Production, Says CEO

Hyundai Motor’s Planned Georgia Plant to Focus on EV Production, Says CEO

SEOUL, June 17 (Korea Bizwire) – A new car manufacturing plant by Hyundai Motor Co., South Korea’s largest automaker, under construction in the U.S. state of Georgia will prioritize producing electric vehicles despite a temporary fluctuation in market demand, the company’s CEO said Monday. “Even though the demand for electric vehicles is temporarily fluctuating more [...]

Battery Range Takes Center Stage as Affordable Electric Vehicles Gain Traction

Battery Range Takes Center Stage as Affordable Electric Vehicles Gain Traction

SEOUL, Jun. 17 (Korea Bizwire) – As electric vehicles (EVs) with extended driving ranges enter the mainstream South Korean market, consumers’ interest in battery technology—a crucial factor determining an EV’s range—is expected to intensify. Some industry observers predict that the proliferation of affordable EVs could ignite fierce competition in battery development. According to auto industry analysts, [...]

South Korea Urged to Address Negative Perceptions Hindering Electric Vehicle Adoption

South Korea Urged to Address Negative Perceptions Hindering Electric Vehicle Adoption

SEOUL, Jun. 12 (Korea Bizwire) – Efforts are underway to enhance the public perception of electric vehicles, as those who have yet to make the switch hold more negative views compared to current EV owners. This disparity in attitudes may pose a significant obstacle to the broader adoption of this environmentally friendly technology.  This issue was [...]

South Korea’s Battery Giants Scramble for Compensation as Global EV Demand Cools

South Korea’s Battery Giants Scramble for Compensation as Global EV Demand Cools

SEOUL, May 7 (Korea Bizwire) – The electric vehicle fervor that once gripped global markets seems to be waning, and South Korea’s battery industry is feeling the pinch. In the aftermath of a sharp decline in demand for electric vehicles since mid-2023, major players in South Korea’s battery sector find themselves navigating compensation negotiations with international [...]

Electric Bus Sales Surge in South Korea as Car Market Slows

Electric Bus Sales Surge in South Korea as Car Market Slows

SEOUL, May 1 (Korea Bizwire) – As the global electric vehicle (EV) market’s growth decelerates, South Korea’s electric passenger car sales have dipped this year. However, the domestic production and sales of electric buses have been on an upward trajectory, according to data from the Ministry of Land, Infrastructure and Transport and the Korea Automobile Manufacturers [...]