SEOUL, Aug. 14 (Korea Bizwire) — Mathias Vaitl, CEO and president of Mercedes-Benz Korea Ltd., on Wednesday plans to meet with residents of an apartment complex in Incheon, where a fire that started from a Mercedes-Benz electric vehicle destroyed over 100 cars, according to sources. The sources said that Vaitl plans to meet with residents [...]
SEOUL, Aug. 14 (Korea Bizwire) – South Korean battery manufacturers are experiencing a collective boost in stock prices as automakers, led by Hyundai Motor Company, begin to disclose their electric vehicle (EV) battery suppliers. This trend reflects growing investor confidence that South Korean firms, with their superior technology compared to Chinese competitors, could increase market share [...]
SEOUL, Aug. 13 (Korea Bizwire) – A recent electric vehicle fire in an underground parking garage has ignited fears among the public and drawn criticism of the government’s disjointed response to the incident. The fire, which occurred on August 1 in the Cheongna district of Incheon, has intensified what some are calling “electric vehicle phobia.” Critics [...]
SEOUL, Aug. 12 (Korea Bizwire) – In the wake of recent electric vehicle (EV) fires that have sparked debates about battery safety, South Korea’s battery industry is doubling down on efforts to improve safety measures from the design and production stages. EV battery fires can rapidly spread through thermal runaway, where a single battery issue can [...]
INCHEON, Aug. 12 (Korea Bizwire) – The adoption of electric vehicles (EVs) in Incheon, South Korea’s third-largest city, has been declining for two consecutive years after peaking in 2022, according to recent data from the city government. From January to July of this year, only 2,607 new EVs were registered in Incheon, a mere 37% of [...]
SEOUL, Aug. 12 (Korea Bizwire) — Carmakers in South Korea are moving toward disclosing the brand information of batteries used in their electric vehicles in response to consumer doubts over the safety of EV batteries. Public concerns over EV safety have mounted in the country after a spontaneous fire that began in a parked Mercedes-Benz EV on [...]
SEOUL, Aug. 8 (Korea Bizwire) — Consumer calls for mandatory disclosure of electric vehicle battery information are growing in South Korea, as an EV scare over possible fire accidents grips the nation following a massive fire caused by a Mercedes-Benz vehicle. The latest fear surrounding electric cars started last Thursday, when a spontaneous fire that began in [...]
SEOUL, Aug. 8 (Korea Bizwire) — The government is considering requiring electric vehicle manufacturers to disclose information on car batteries amid an EV scare following a massive fire caused by a Mercedes-Benz vehicle last week, according to sources Thursday. According to the sources, the Ministry of Land, Infrastructure and Transport is reviewing the measures for [...]
SEOUL, Aug. 7 (Korea Bizwire) — The recent electric vehicle fire incidents involving Mercedes-Benz and Kia models could not have come at a worse time for the local automotive industry, which has been eagerly preparing to introduce ambitious new electric models to tackle the so-called EV adoption chasm. While waiting for the official investigation results, [...]
SEOUL, Aug. 6 (Korea Bizwire) – In a significant shift for the electric vehicle (EV) industry, South Korea’s leading battery manufacturers are ramping up production of prismatic batteries, responding to growing market demand and evolving consumer preferences. LG Energy Solution, a major player in the global battery market, has formed a task force dedicated to developing [...]