SEOUL, June 30 (Korea Bizwire) — The government plans to set up a series of centers to facilitate the systematic collection and storage of depleted electric vehicle (EV) batteries as well as to supply them more effectively to the private sector. The Ministry of Environment announced that a partial revision of the enforcement ordinance of [...]
SEOUL, June 27 (Korea Bizwire) — Cumulative electric vehicle (EV) sales in Europe from South Korea’s two largest automakers — Hyundai Motor Co. and Kia Corp. — have surpassed 200,000 units, company data showed Sunday. Hyundai and Kia, both under Hyundai Motor Group, had sold a combined 227,919 EVs in the European auto market as [...]
SEOUL, June 20 (Korea Bizwire) — South Korean units of three foreign carmakers are finally pivoting to a more electric future in the face of toughening competition with their Korean rivals and luxury German brands as a way to survive in the changing business environment. The Korean units of three foreign carmakers — GM Korea [...]
SEOUL, June 15 (Korea Bizwire) — Financially troubled SsangYong Motor Co. said Tuesday it will launch its first electric vehicle (EV) in Europe later this year as it seeks to speed up its sales process and survive in the changing business environment. SsangYong said it named the EV variant of the Korando EV the Korando [...]
SEOUL, May 24 (Korea Bizwire) — With U.S. electric vehicle (EV) maker Tesla Inc.’s sales in South Korea dwindling, Mercedes-Benz, Porsche and other foreign carmakers are surging amidst growing competitiveness in the market for EVs. The Korea Automobile Importers and Distributors Association and Carisyou Data Lab reported a 2 percent increase in EV imports, reaching [...]
SEOUL, May 20 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has signed a deal to buy a 30 percent stake in the Ravensthorpe Nickel Operation in Australia for US$240 million in the latest move to boost its electric vehicle battery business. Under the deal with Canadian miner First Quantum [...]
SEOUL, May 18 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. has debuted its all-electric Ioniq 5 in hope of catching up with EV leader Tesla, but its ambitious plan could fizzle out this year with delayed production and rapidly drying-up state subsidies, and more recently its labor union’s opposition to its massive investment [...]
SEOUL, May 11 (Korea Bizwire) — Hyundai Motor Co. has launched a new service in which the company will pick up, charge and wash a customer’s electric vehicle (EV). The South Korea’s largest automaker said Monday that it launched the ‘pickup & charging’ service for owners of the IONIQ 5, Kona Electric and IONIQ Electric [...]
SEOUL, May 10 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. are taking steps to bring about the vehicle-to-grid (V2G) commercialization era. V2G refers to the technology of using idle battery power by connecting electric vehicles to the power grid. The two companies signed a business agreement with Hyundai Capital Services Inc., an [...]
SEOUL, April 19 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group on Monday introduced its electric vehicles (EVs) across Hyundai Motor, Kia and Genesis brands at the Shanghai Motor Show to target the fast-growing EV market. The world’s No. 5 automotive group by sales showcased three electric models at the Shanghai International Automobile [...]