SEOUL, May 9 (Korea Bizwire) — South Korea’s finance ministry said Tuesday the government will expand support on the electric vehicle (EV) sector under a new tax code that centers on lending hands to strategic industries amid ailing exports and economic uncertainties. The move came after the parliament passed a bill to offer a tax [...]
SEOUL, April 25 (Korea Bizwire) — As electric vehicles continue to gain popularity, the importance of accessible and efficient charging infrastructure has become increasingly apparent. In response, the Seoul Metropolitan Government has announced plans to assign AoT (Address of Things) to charging stations, simplifying the process of locating them for EV drivers. Previously, the most [...]
SEOUL, April 20 (Korea Bizwire) — Most of the electric vehicles that qualify for subsidies under the guidelines of the US Inflation Reduction Act (IRA) are equipped with Korean-made batteries, data showed Wednesday. Out of the 22 American vehicle models eligible for the subsidies, 17, excluding the five Tesla models, are equipped with batteries made [...]
SEOUL, April 18 (Korea Bizwire) — The electric vehicle (EV) market is about to experience fierce price competition as Tesla continues to slash prices worldwide and BYD and Volkswagen introduce entry-level compact EVs, according to a recent report from the Korea Automotive Technology Institute (KATECH). The report, titled “The Beginning of the Era of Electric [...]
SEOUL, April 6 (Korea Bizwire) — China’s largest electric vehicle manufacturer, BYD, has introduced its T4K electric small truck to the South Korean market through its official importer, GS Global. At a showcase event in Seoul on Thursday, BYD’s 1-ton electric truck was unveiled, and it was announced that sales would commence. Surprisingly, BYD set [...]
SEOUL, March 23 (Korea Bizwire) — South Korea will be able to source 20,000 tons of lithium hydroxide from domestically recycled electric vehicle (EV) batteries by 2045 as EV purchases will increase, an outlook that calls for strategic efforts to promote the emerging industry given supply chain instability, a report showed Thursday. The projection is [...]
SEOUL, March 22 (Korea Bizwire) — Hyundai Motor Group on Tuesday released a video showing the demonstration of its newly-developed automatic charging robot (ACR) on YouTube. The ACR is a one-arm robot capable of plugging a cable into an electric vehicle (EV)’s charging port and removing it once charging is complete. Based on the consideration [...]
SEOUL, March 14 (Korea Bizwire) — Hyundai Motor Co. was named the most popular electric vehicle (EV) brand for three consecutive years in a survey of domestic consumers, a survey showed Monday. According to the survey of 2,172 adult consumers by the EV Trend Korea, South Korea’s leading electric car expo, 43 percent of the [...]
SEOUL, Feb. 23 (Korea Bizwire) — The government will introduce energy performance grades for all electronic vehicles, similar to fossil fuel cars, in order to encourage the development of highly efficient EVs. The Ministry of Trade, Industry and Energy officially announced the new policy on Wednesday. The government plans to divide energy performance into five [...]
SEOUL, Dec. 27 (Korea Bizwire) — The number of electric vehicles (EVs) and electric two-wheelers registered in Seoul has surpassed the 76,000 level, the city government said. Last year the capital city subsidized purchases of 52,427 EVs, including electric two-wheelers, with subsidies for an additional 24,000 vehicles expected this year. The share of EVs among [...]