SEOUL, Aug. 1 (Korea Bizwire) — Unlike in the past, when foreign carmakers mainly released high-priced electric vehicles (EVs) in the Korean market, they are now launching a string of new models with lower prices and improved performance to increase the potential for subsidies. The competition was ignited by U.S. electric vehicle maker Tesla Inc.’s [...]
SEOUL, July 23 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp.’s electric vehicle (EV) sales rose 5.9 percent in the United States during the January-June period from a year earlier amid accelerating electrification, an industry association said Sunday. Hyundai and Kia sold a combined 46,826 EV models in the first half [...]
SEOUL, July 20 (Korea Bizwire) — Chinese electric vehicles (EVs) are expanding their presence in South Korea, particularly in the commercial vehicle market. The number of imported commercial vehicles registered in the first half of this year totaled 4,563 units, with Chinese vehicles accounting for 1,451 units, according to local market tracker CarIsYou. Shineray’s electric [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor announced that its dedicated electric vehicle, the Ioniq 6, has been named the 2023 Car of the Year by Car and Driver. The competition involved evaluating 14 EV models from major automakers over three weeks, considering factors like value, driving tests, technology, and enjoyment. The Ioniq 6, [...]
SEOUL, June 26 (Korea Bizwire) — The GV70 electrified sport utility vehicle (SUV) from Genesis, Hyundai Motor’s luxury brand, has received the highest score in a comparison conducted by Autobild, one of the top three automotive magazines in Germany. In the recent comparison that involved three vehicles—the eGV70 model, Audi Q8 e-tron, and Mercedes-Benz EQE [...]
SEOUL, June 22 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it has signed an initial pact with a Japanese culture content company to promote sales of zero-emission vehicles in the neighboring country. Hyundai Motor signed a memorandum of understanding (MOU) with the Culture Convenience Club (CCC) for partnerships in car-sharing mobility services, [...]
SEOUL, June 22 (Korea Bizwire) — Renault Korea Motors, the South Korean unit of Renault S.A., said Thursday it is in talks with the South Korean government to manufacture electric vehicles (EVs) at its sole Busan plant amid carmakers’ accelerating electrification push. Busan Mayor Park Heong-joon met with Renault Executive Vice President Guido Haak in [...]
SEOUL, June 21 (Korea Bizwire) – Lexus Korea on Wednesday launched its first dedicated pure electric vehicle, the RZ 450e, to meet growing local demand for EV models and to be in line with its plan to go all-electric by 2035. The RZ 450e large SUV comes with a 71.4-kWh lithium-ion battery and the e-TNGA [...]
SEOUL, June 20 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday it will invest 109.4 trillion won (US$85.4 billion) by 2032 to secure a leading position in the global future mobility market, while aiming to sell 2 million all-electric models by 2030. Hyundai Motor’s investment plans and EV sales target are up from [...]
SEOUL, June 20 (Korea Bizwire) — The share of imported cars in South Korea’s electric vehicle (EV) market has far exceeded that in the market for internal combustion engine (ICE) cars. The number of electric cars sold in the domestic market until last month reached a total of 450,731 units and of this total, domestically [...]