SEOUL, Feb. 6 (Korea Bizwire) – A number of employees from LG Energy Solution have launched a protest demanding improvements to the bonus system following the company’s decision to significantly reduce this year’s bonuses due to a slowdown in demand for electric vehicles. From February 5 to 29, approximately 1,700 LG Energy Solution employees, through anonymous [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Friday it plans to continue to engage in negotiations with the French government on its new electric vehicle (EV) subsidy policy with “unbiased data,” after it excluded domestically produced models from the program. “The government, along with local companies, will proactively address the French [...]
SEOUL, Jan. 18 (Korea Bizwire) — Foreign car companies are pushing to introduce more electric vehicle (EV) chargers in South Korea to better compete in the country’s growing EV market segment. BMW Korea, which currently operates 1,119 EV chargers in the country, aims to nearly double the units to around 2,100 within the year. The [...]
SEOUL, Dec. 27 (Korea Bizwire) — U.S. electric carmaker Tesla Inc. has emerged as a major player in South Korea’s imported passenger vehicle market this year, with BMW, Mercedes-Benz and Audi set to close the year as the three best-selling brands, industry data showed Wednesday. Tesla’s vehicle sales have been on the rise since September [...]
SEOUL, Dec. 24 (Korea Bizwire) – South Korea’s exports of eco-friendly vehicles surged 32.5 percent on-year to a record high during the first 11 months of this year on solid global demand for electric vehicles (EVs), data showed Sunday. The export volume of eco-friendly automobiles came to 662,307 units during the January-November period, compared with [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea’s industry ministry held talks with business officials on Thursday to explore ways to address France’s subsidy policy for electric vehicles (EVs), which excluded models with high carbon emissions in the entire process including shipping. The discussion came after the list of EVs eligible to win subsidies in [...]
JEJU, Dec. 19 (Korea Bizwire) – Known as the ‘Island of Electric Vehicles,’ South Korea’s Jeju Island is set to pilot a new project aimed at recycling used electric vehicle (EV) batteries. The Ministry of Environment, Jeju Special Self-Governing Province, and SF ECO Co., Ltd. announced that they would be signing a memorandum of understanding on [...]
ULSAN, Dec. 16 (Korea Bizwire) –Hyundai Motor will not run overtime shifts at its Ulsan plant for the Ioniq 5 EV this weekend. This decision comes as most local governments in South Korea have ended their electric vehicle subsidy programs for the year, leading to anticipated sales slumps in the coming months. According to automotive [...]
SEOUL, Dec. 14 (Korea Bizwire) – Celebrating its 25th year of local production in India, Hyundai Motor is poised to achieve record-breaking sales in the Indian passenger car market this year. Analysts predict that if the company maintains its current monthly sales trend, it will surpass the 600,000-unit annual passenger vehicle sales mark for the first [...]
SEOUL, Dec. 7 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc. has sold over 15,000 vehicles in South Korea this year, driven by strong demand of its affordable Model Y car produced in China, according to government and industry data Thursday. According to the transportation ministry data, the number of Tesla vehicles sold in [...]