SEOUL, Sept. 27 (Korea Bizwire) — As more electric vehicles (EVs), both new and old, are being sold locally, South Korea is seeing a higher number of EV recalls caused by various defects. Rep. Park Sang-hyuk of the ruling Democratic Party said that 90,746 EVs were recalled last year, according to a report from the [...]
SEOUL, Sept. 14 (Korea Bizwire) — SK Materials Co., a semiconductor and display material unit under SK Group, said Tuesday it will team up with U.S.-based Group 14 Technologies to build a lithium-ion battery material factory in South Korea. SK Materials and Group 14 Technologies will launch a 75-25 joint venture later this month to [...]
SEOUL, Sept. 7 (Korea Bizwire) — POSCO International Corp., a South Korean general trading company, said Monday that together with local auto part maker Erae Automotive Systems Co. it had received an order to supply electronic vehicle (EV) components to a North American EV startup. The company will supply about 145 billion won (US$125 million) [...]
SEOUL, Sept. 6 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Monday it will raise the ratio of electrified vehicles to 80 percent by 2040 in global sales. All-electric and hydrogen fuel-cell electric vehicles currently account for a mere 1.5 percent of Hyundai’s global sales, and it initially aims to raise the [...]
SEOUL, Aug. 31 (Korea Bizwire) — Developers of new apartment complexes in Korea will be obliged to install electric vehicle (EV) chargers at 5 percent of the total number of parking spaces, while existing apartment complexes will be required to have EV chargers at a minimum of 2 percent of their parking spaces. The Ministry [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea’s best-selling electric vehicle (EV) in the first half of this year was not a model from U.S. electric vehicle maker Tesla Inc. According to data from the Korea Automobile Manufacturers Association, the best-selling EV was Hyundai Motor Co.’s Porter II Electric truck, with 8,554 units sold in [...]
SEOUL, Aug. 3 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc. has suspended sales of the Model 3 Long Range, the company’s most popular EV in South Korea, raising complaints that the company is discriminating against the South Korean market. The company announced via its website that it will suspend orders for the Model 3 [...]
SEOUL, July 16 (Korea Bizwire) — Multinational carmaker Stellantis Group said Friday it will bring six electrified models to South Korea by 2026 as it aims to get a share of the emerging local EV market. Stellantis is a 50:50 joint venture recently set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. [...]
SEJONG, July 8 (Korea Bizwire) – South Korea said Thursday it will increase investment to develop the next-generation battery technology, expand its manufacturing base and secure supply chains as it seeks to foster the rechargeable battery industry as the next growth driver. The Ministry of Trade, Industry and Energy unveiled the so-called K-battery blueprint to [...]
SEOUL, July 6 (Korea Bizwire) — Imported carmakers are planning to introduce 53 all-electric models in South Korea by 2023 as they quickly move toward future vehicle technologies amid toughened regulations, the chief of a trade association of foreign automakers here said Tuesday. They also plan to launch 46 mild hybrid electric vehicles, as well [...]