SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to impose a penalty of 2.85 billion won (US$2.24 million) on U.S. electric carmaker Tesla Inc. and its South Korean unit for misleading advertisements. The move came as Tesla released advertisements in August 2019, which suggested its electric car can [...]
SEOUL, Nov. 23 (Korea Bizwire) — President Yoon Suk-yeol asked Tesla CEO Elon Musk to build an electric vehicle plant in South Korea during a virtual meeting with the billionaire entrepreneur on Wednesday, his office said. Yoon made the request after Musk explained Tesla’s plans to build a gigafactory in Asia to produce finished EVs, [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korean retail investors have sold shares in electric vehicle leader Tesla Inc., while making large purchases of shares in the China-based Tianqi Lithium Corp. over the past month, data showed Monday. Local individual investors net sold US$319.9 million worth of Tesla shares during the period from July 12 [...]
SEOUL, July 19 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc.’s sales in South Korea remained stagnant in the first half of this year after enjoying strong growth in the country’s imported EV market. According to the Korea Automobile Importers & Distributors Association and the CarIsYou Data Research Center, the number of imported EVs [...]
SEOUL, June 8 (Korea Bizwire) — Samsung Electro-Mechanics Co., a major electronics parts maker in South Korea, won a bid to supply camera modules tor U.S. electric car maker Tesla, the company confirmed Wednesday. The company beat its bigger rival LG Innotek Co., another South Korean e-mobility total solution provider, in a recent bid to [...]
SEOUL, June 6 (Korea Bizwire) — South Korean investors are continuing to buy shares in electric vehicle leader Tesla Inc. despite the plunging price, data showed Sunday. Local investors bought US$1.03 billion worth of Tesla shares last month, the highest since last December, according to the data from the Korea Securities Depository. As such, South [...]
SEOUL, March 2 (Korea Bizwire) — A number of insurance companies have filed a protest against U.S. electric vehicle maker Tesla Inc.’s policy of collecting old batteries when replacing them with new ones for their EV models. The Korea Insurance Development Institute’s Korea Automobile Insurance Repair Research and Training Center sent a letter of inquiry [...]
SEOUL, Nov. 29 (Korea Bizwire) — A South Korean court has ruled against customers who filed a lawsuit against the local unit of U.S. electric vehicle maker Tesla Inc., claiming that they had incurred losses as they were not informed that a new model would be launched shortly thereafter at the time of their purchase. [...]
SEOUL, Nov. 16 (Korea Bizwire) — An increasing number of South Korean consumers are becoming frustrated with U.S. electric vehicle maker Tesla Inc.’s sluggish maintenance measures. The Ministry of Land, Infrastructure, and Transport reported 561 Model S and 516 Model 3 vehicles have been subject to a recall this year. Among them, only 398 (70.9 [...]
SEOUL, Nov. 4 (Korea Bizwire) — While overall sales in the global automotive industry have plummeted, demand for imported electric vehicles (EVs) among South Korean consumers continues to grow, with no signs of the market cooling down. One-third of electric cars sold through the third quarter this year were imported cars, with Tesla Inc. leading [...]