SEOUL, May 1 (Korea Bizwire) – As the global electric vehicle (EV) market’s growth decelerates, South Korea’s electric passenger car sales have dipped this year. However, the domestic production and sales of electric buses have been on an upward trajectory, according to data from the Ministry of Land, Infrastructure and Transport and the Korea Automobile Manufacturers [...]
SEOUL, Apr. 29 (Korea Bizwire) — The antitrust regulator approved a joint venture between LG Uplus Corp. and Kakao Mobility Corp. for operating electric car charging stations Monday, noting that the partnership is unlikely to impede market competition. The approval by the Fair Trade Commission (FTC) came as LG Uplus, the nation’s No. 3 mobile [...]
SEOUL, Apr. 26 (Korea Bizwire) – Hyundai Motor Company has announced plans to manufacture hybrid vehicles at its upcoming electric vehicle (EV) plant in Georgia, United States, scheduled to commence operations in the latter half of this year. During a conference call discussing the company’s first-quarter earnings on April 25, Lee Seung Jo, Head of Hyundai’s [...]
SEOUL, Apr. 24 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has launched a new commercial electric delivery vehicle model with expanded functionality that can be tailored to various business services and solutions. The ST1 has been released in two variants — the ST1 Cargo and ST1 Cargo Refrigerated — and can be expanded [...]
SEOUL, Apr. 22 (Korea Bizwire) — Hyundai Motor Group said Monday it has signed a 174- megawatt power purchase agreement (PPA) with a solar energy project led by Spain’s Matrix Renewables to power its envisioned electric vehicle (EV) plant in the United States with renewable energy. The 15-year PPA with the Matrix Renewables-led Stillhouse Solar [...]
SEOUL, Apr. 12 (Korea Bizwire) — BYD, China’s leading electric vehicle manufacturer, is grappling with dismal sales of its T4K electric truck, launched in South Korea last year. As electric vehicle subsidies were significantly reduced this year, GS Global, the official importer and distributor of the T4K, has resorted to offering discounts of around 10 million [...]
SEJONG, Apr. 1 (Korea Bizwire) – Beginning on April 1, all electric vehicles sold in South Korea will be required to display color-coded labels indicating their energy efficiency rating on a scale of 1 to 5, with 1 being the most efficient. The new five-tier rating system, introduced by the Ministry of Trade, Industry and Energy, [...]
SEOUL, Apr. 1 (Korea Bizwire) – Ahead of the 2024 season opener for South Korea’s largest single-make racing event, the Hyundai N Festival, Hyundai Motor Company unveiled its high-performance Ioniq 5 N eN1 Cup Car during an official practice round held on March 30 at the Inje Speedium racetrack in Inje County, Gangwon Province. The Ioniq [...]
SEOUL, Apr. 1 (Korea Bizwire) – Hyundai Motor Company has released a promotional campaign video on its global YouTube channel showcasing the Ioniq 5 robotaxi’s journey to obtain a U.S. driver’s license, a milestone announced on March 31. The video, titled “Ioniq 5 robotaxi – Hyundai gets its driver’s license,” chronicles the autonomous vehicle’s venture through [...]
SEOUL, Mar. 28 (Korea Bizwire) – Kia’s large electric sport utility vehicle (SUV), the EV9, emerged as the Car of the Year at the 2024 World Car Awards (WCA) held on March 27 during the New York International Auto Show. The EV9 also claimed the title of World Electric Vehicle of the Year. Hyundai Motor Company’s [...]