SEOUL, April 26 (Korea Bizwire) — South Korea’s imported electric vehicle (EV) market, once dominated by Tesla Inc., is now facing fierce competition with European brands releasing new models. The Ministry of Trade, Industry and Energy and the Korea Automobile Importers & Distributors Association (KAIDA) reported that a total of 5,278 units of imported EV [...]
SEOUL, April 26 (Korea Bizwire) — South Korea plans to invest 397.5 billion won (US$318 million) in building charging stations for electric and hydrogen-powered vehicles this year in an effort to foster the next-generation car industry, a senior government official said Tuesday. The government also plans to focus on building the infrastructure and developing technology [...]
JEJU, April 18 (Korea Bizwire) — South Korea’s southern resort island of Jeju is on track to allow the sales of battery packs in used electric vehicles (EVs). On Friday, the Jeju Special Self-Governing Provincial Government issued an advance notice on a partial revision of the “EV battery return and processing ordinance.” Under the revision, [...]
SEOUL, April 5 (Korea Bizwire) — Electric vehicles (EVs) now account for more than 20 percent of Hyundai Motor Co.’s sales in the European market. The carmaker said it sold a total of 57,842 units in Europe in the first two months of this year, of which EVs accounted for 11,532 units. The share of [...]
SEOUL, March 28 (Korea Bizwire) — Registered electric vehicles (EVs) in South Korea now account for close to 1 percent of all automobiles in the country, data showed Sunday, thanks to growing interest in eco-friendly cars, as well as generous government subsidies. The Ministry of Land, Infrastructure and Transport reported that among the more than 25 [...]
SEOUL, March 28 (Korea Bizwire) — The Seoul Metropolitan Government has announced the development of a new system that uses closed-circuit cameras to offer parking discounts to drivers of electric vehicle (EVs) by automatically detecting batteries. The system uses CCTV cameras installed at EV charging stations to monitor how long the vehicles are plugged in [...]
SEOUL, March. 11 (Korea Bizwire) — Sentiment is growing that the insurance industry needs to pay more attention to electric vehicle (EV) insurance products as a new channel for growth after main opposition candidate Yoon Suk-yeol was elected South Korea’s next president on Thursday. Yoon pledged that he will freeze EV charging fees over the [...]
SEOUL, March 7 (Korea Bizwire) — As the shortage of semiconductors for automobiles is delaying shipment of new cars, secondhand markets, particularly for electric vehicles (EVs), are gaining popularity. EVs are selling immediately after they are put up on the secondhand market. Prices for newer models of EVs on the second-hand market tend to be [...]
SEOUL, March 4 (Korea Bizwire) — Sales of electric vehicles (EVs) in South Korea surged last month following the introduction of new subsidy programs. Automakers on Wednesday announced that a total of 12,399 EVs were sold in February, which was 1,113.2 percent higher than the previous month (1,022 units). It is not uncommon to see [...]
SEOUL, Feb. 15 (Korea Bizwire) — Volvo Car Korea Co. on Tuesday launched the Volvo brand’s first pure electric model, the C40 Recharge SUV, as part of the Swedish carmaker’s electrification push. The C40 Recharge is one of seven all-electric models to be released by Volvo Cars by 2030. The Swedish carmaker aims to become [...]