SEOUL, Mar. 21 (Korea Bizwire) – South Korea’s exports of eco-friendly vehicles, including hybrid and electric cars, experienced a significant decline in February, marking the first contraction in over three years, a concerning trend given the country’s rising dependence on electric vehicle (EV) exports. According to data released on March 20 by the Korea Automobile Manufacturers [...]
SEOUL, Mar. 19 (Korea Bizwire) – Hyundai Motor and Kia have formed a partnership with government agencies, academic institutions, and industry associations to develop advanced firefighting technologies aimed at improving the safety of electric vehicles in the event of fires. On March 18, the automakers signed a joint agreement with the National Fire Agency Research Institute, [...]
SEOUL, Mar. 14 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. will voluntarily recall nearly 170,000 electric vehicles (EV) to address a software error in the charging system, the government said Thursday. The Ministry of Land, Infrastructure and Transport said 12 car models totaling 232,000 units from Hyundai Motor, Kia, Stellantis Korea and Tesla [...]
SEOUL, Mar. 12 (Korea Bizwire) – In a race against time, the battery sector is making strides towards developing technology that could dramatically speed up the charging process for electric vehicle (EV) batteries. The current benchmark to charge an EV battery to 80% capacity takes anywhere from 30 minutes to an hour, but the goal now [...]
SEOUL, Mar. 6 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, said Wednesday they showcased the latest technologies involving their electric vehicles (EV) at the annual EV Trend Korea exhibition held in Seoul. The annual trade show, now in its seventh year, is hosted by the Ministry of Environment to [...]
SEOUL, Mar. 4 (Korea Bizwire) — The number of eco-friendly car registrations in South Korea surpassed that of liquefied petroleum gas (LPG) models for the first time last year, according to data Monday. According to data from the Ministry of Land, Infrastructure and Transport, cumulative registration of domestic eco-friendly cars, such as hybrids, electric and [...]
SEOUL, Feb. 21 (Korea Bizwire) – Electric vehicle (EV) subsidies in South Korea are facing scrutiny as disparities in subsidy amounts, particularly between Tesla’s Model Y RWD and Hyundai’s Ioniq 6, spark debates on potential favoritism towards domestic car manufacturers. The Ministry of Environment, responsible for the subsidy program, has revamped the subsidy structure to favor [...]
SEOUL, Feb. 13 (Korea Bizwire) – The Seoul Metropolitan Government has announced plans to invest approximately 16.6 billion won this year to facilitate the distribution of 102 hydrogen fuel cell cars and 42 hydrogen buses, enhancing the city’s green mobility initiatives. Starting from February 13, the city will begin accepting applications for hydrogen car purchase support. [...]
SEOUL, Feb. 13 (Korea Bizwire) – The global battery market is currently navigating a ‘chasm’, a concept introduced by business consultant Geoffrey Moore, which represents a temporary stagnation or decline in demand as cutting-edge technology products transition from early adopters to mainstream markets. This situation is exacerbated by high global interest rates, reductions in electric vehicle [...]
SEOUL, Feb. 12 (Korea Bizwire) – Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan. The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according [...]