SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s battery industry is intensifying efforts to establish a systematic foundation to dominate the rapidly growing second-life battery market, driven by the widespread adoption of electric vehicles. The second-life battery industry represents a futuristic and economically valuable sector. It also has the potential to contribute to waste reduction and [...]
SEOUL, Nov. 17 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Friday they have unveiled their latest electric vehicle (EV) units and concept models under way at the 2023 Los Angeles Auto Show as the companies strengthen their electric portfolios. Hyundai debuted the Ioniq 5 N, the first high-performance EV model [...]
SEOUL, Nov. 12 (Korea Bizwire) — Sales of diesel automobiles built by local manufacturers fell more than 20 percent on-year through the third quarter of 2023, data showed Sunday, amid the rising preference for electric vehicles in the market. South Korea’s five carmakers sold 76,367 units of diesel passenger cars over the January-September period, down [...]
SEOUL, Oct. 30 (Korea Bizwire) – Hyundai is on the cusp of achieving double-digit market share in the U.S. electric vehicle (EV) segment. It’s intriguing to observe whether Hyundai can solidify its position as a pioneer in the American transition to electrification. During the third quarter of this year, Hyundai successfully sold 21,638 electric vehicles in [...]
SEOUL, Oct. 16 (Korea Bizwire) – The repercussions of the economic downturn have reverberated in the imported electric vehicle market, drawing attention to the widening wealth gap often described as “The rich get richer, the poor get poorer.” While sales of domestic electric vehicles (EVs) have been lackluster this year, there has been a notable surge in [...]
SEOUL, Oct. 13 (Korea Bizwire) — Two models of Hyundai Motor Co.’s luxury brand Genesis have earned top safety awards from the U.S. Insurance Institute for Highway Safety (IIHS), according to the group Friday. The Genesis G80 model and its electrified variant garnered the Top Safety Pick+ (TSP+) awards in the latest IIHS’ collision tests, [...]
SEOUL, Oct. 5 (Korea Bizwire) — South Korea will extend support for electric vehicles (EVs), secondary batteries and other major industry fields in an effort to boost exports amid signs of a turnaround after a yearlong downturn, the industry ministry said Thursday. The Ministry of Trade, Industry and Energy held a meeting with relevant ministries [...]
SEOUL, Oct. 3 (Korea Bizwire) — Hyundai Motor Co. plans to launch two electric vehicle models in Japan by early next year, as it seeks to increase sales in the Japanese market, according to company officials Tuesday. Hyundai currently sells the Nexo hydrogen fuel-cell electric vehicle and the Ioniq 5 midsize crossover there through an [...]
SEOUL, Sept. 26 (Korea Bizwire) — New Industry Minister Bang Moo-kyu visited a factory of Hyundai Motor Co. on Tuesday and vowed extended support for the electric vehicle (EV) sector to boost the country’s exports and the overall economic growth, his office said. Bang, who took office last week, launched a government delegation to be [...]
SEOUL, Sept. 26 (Korea Bizwire) – The South Korean government has decided to temporarily increase subsidies for electric vehicles (EVs). The government will provide additional subsidies in proportion to the discount offered by EV makers. If EV makers offer a 5 million won discount, the government will provide an additional subsidy of up to 1 million [...]