SEOUL, Jan. 5 (Korea Bizwire) — Starting this year, high-end electric vehicles (EVs) that cost more than 90 million won (US$82,800) will be excluded from government subsidies. The Ministry of Environment announced Monday a new subsidy policy that will soon come into effect. The government has provided new criteria for electric vehicle subsidies based on [...]
SEOUL, Dec. 23 (Korea Bizwire) — LG Electronics Inc. said Wednesday it will launch an electric car parts joint venture worth about US$1 billion next year with Canadian auto parts company Magna International Inc. as it seeks to boost its presence in the auto parts industry. The South Korean electronics giant said it will hold [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it will invest 60.1 trillion won (US$55.5 billion) by 2025 for future mobility to gain a bigger share in the rapidly evolving global automobile markets. Hyundai Motor said it will strengthen its electrified vehicle lineup to compete with its rivals, such as [...]
DAEJEON, Dec. 4 (Korea Bizwire) — A research team affiliated with the Korea Advanced Institute of Science & Technology (KAIST) announced on Thursday that it had developed a new hybrid lithium-ion battery that enables rapid charging within seconds. Despite having a high energy density, existing lithium-ion batteries have shortcomings such as bulky size and long [...]
SEOUL, Nov. 26 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they are set to export over 100,000 electric vehicles this year on growing demand for environment-friendly cars. Hyundai and Kia shipped a combined 98,505 EVs from January to October, jumping 71 percent from 57,517 units during the same [...]
SEOUL, Nov. 9 (Korea Bizwire) — In line with the increasing prevalence of eco-friendly cars, the South Korean government has decided to strengthen inspection standards for electric vehicles (EVs). The Ministry of Land, Infrastructure and Transport will make an advance legislation notice about the revision of the Enforcement Regulation of the Automobile Management Act by [...]
SEOUL, Oct. 30 (Korea Bizwire) — Consumers are expressing dissatisfaction towards Hyundai Motor Co.’s recent recall of its Kona electric vehicle (EV) following a series of cases where the vehicle has shut down, even after the recall. Hyundai recalled Kona EVs manufactured before March 13, to update the vehicle’s battery management system (BMS). The problem [...]
SEOUL, Oct. 28 (Korea Bizwire) — Hyundai Motor Group plans to produce a kid’s version of the 45, a miniature-sized electric vehicle (EV) concept. Hyundai unveiled a video on Tuesday showing how the derived EV model for kids is being made and designed after the mini-sized EV. The mini-EV for kids comes with Hyundai’s Emotion [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Motor Co.’s Prophecy all-electric concept car won the Red Dot Design Award in its latest achievement of its decadelong efforts to improve its brand image in terms of quality and design. The Prophecy with an extended wheelbase and short overhang has been named as the Best of the [...]
SEOUL, Oct. 18 (Korea Bizwire) — Tesla Motors Inc. posted explosive sales growth in South Korea this year on the back of growing appetite for electric vehicles and fat subsidies, industry data showed on Sunday. Tesla sold a total of 10,518 vehicles here from January to September, accounting for a whopping 79.6 percent of the [...]