Hyundai and Kia are together investing 80 million euros into Rimac Automobili. The Korean carmakers and the Croatian company are also entering into a strategic partnership for the joint development of both battery electric and fuel cell, high-performance EVs.
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The Kia Niro EV has finally gone on sale in the U.S. The South Korean electric car manufacturer already started selling the Niro in their home country in June of last year. The base price for the Niro EV EX is $39,495 ($31,995 with federal tax credit).
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The U.S.-owned subsidiary of the South Korean battery cell manufacturer LG Chem has filed two lawsuits in the USA against its South Korean competitor SK Innovation. The accusation: Employees hired by LG Chem are said to have disclosed business secrets of the company.
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Korea Gas announced that by 2030 it intends to invest the equivalent of around 4 billion dollars in the construction of 25 hydrogen production plants and pipelines with a total length of 700 kilometres to transport the gas in South Korea.
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The government of the South Korean capital Seoul wants to provide subsidies for a massive electric offensive. The goal is to replace around 100,000 two-wheelers powered by combustion engines with electric ones by 2025, as well as the electrification of minibuses.
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Webasto acquired the entire South Korean joint venture Webasto Donghee for 100 million euros, making it the largest acquisition in its history. With this deal, the supplier is expanding its core businesses in Asia and gets closer to Hyundai-Kia.
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A former General Motors car factory in the South Korean city of Gunsan is to become a production site for electric cars. The Korean component manufacturer MS Autotech bought the plant for the equivalent of almost 100 million dollars to manufacture on behalf of several OEMs.
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At the Seoul Motor Show, South Korean manufacturer Songuo Motors presented the NeuWai brand, under which a whole series of vehicles will be sold in the future, including vehicles with electric drives. NeuWai is exhibiting no less than twelve models at the show.
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The South Korean Ministry of Trade, Industry and Energy has formed a special purpose company called HyNet to lead construction of hydrogen charging infrastructure. The 13 companies involved have together invested 135 billion won (118.7 million USD).
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A new plan by the South Korean government to build a hydrogen economy includes a massive increase in the number of fuel cell vehicles produced in the country. While only around 2,000 such vehicles were built by 2018, the number is expected to rise to 100,000 by 2025.
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Car manufacturers plan to invest more than 300 billion dollars in electric mobility over the next five to ten years. This is the result of a Reuters analysis based on public company data. China accounts for around 45 percent of investment plans.
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The battery cell manufacturer SK Innovation plan to increase their global battery cell manufacturing capacity more than ten-fold over the next four years. The news broke only days after SK-customer Daimler announced that they plan to procure battery cells in a volume worth 20 billion euros by 2030.
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The South Korean government announces plans to advance e-mobility both at home and abroad. Local EV subsidies are to help bring the number of electric vehicles in Korea to 430,000 BEVs and 65,000 FCEVs by 2022. Moreover, manufacturers will receive support to multiply ZEV exports.
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The Hyundai Motor Group has presented the roadmap for its “FCEV Vision 2030”. And the roadmap is ambitious: Hyundai and Kia plan to increase their annual production capacity for fuel cell systems from what is currently 3,000 units, up to a whopping 700,000 units by 2030.
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Hyundai has signed a statement of intent with SK Networks in order to set up charging stations across South Korea. The chargers will include some high power charging units as well.
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The Israeli company SolarEdge Technologies has taken over large parts of the South Korean battery and energy storage specialist Kokam. The transaction sum is said to stand at 88 million dollars.
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Electric car enthusiast Bjørn Nyland has tracked down a robot that is a bit bizarre. The Electric Vehicle Automatic Recharging (EVAR) device serves at the Samsung C-lab in South Korea, and of course, there is a video.
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SK Innovation of Korea is delaying the introduction of their expected new EV battery cells. The pouch NCM batteries of type 811 had been planned since a year but so far, they are only being utilised in energy storage systems and larger EVs.
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Kia has started selling their Niro EV in South Korea. The European premiere will take place at the Paris Motor Show, and will be available before the end of the year.
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China’s BYD is becoming a serious player on the market home to Hyundai and Kia. In Korea, BYD electric buses are fully eligible for the electric vehicle subsidy. They have thus become very competitively priced, much to the dismay of the local industry.
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LG Chem has signed a five-year deal with Nemaska Lithium, a Canadian supplier of lithium hydroxide. The deal is set to begin in late 2020 and covers 7,000 tons of lithium hydroxide per annum.
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The government in Seoul agreed with South Korea’s industry to invest about 2 billion euros (2.6 trillion Won) into hydrogen mobility over the next five years. Facilities building fuel cell vehicles and those doing R&D will receive funding in order to reach the ambitious targets.
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BMZ, a battery assembly specialist in Germany, has made a deal with Korea’s LG Chem over the delivery of a couple hundreds of million of cells throughout 2022. The German supplier wants to secure its own supply in order to fulfill its obligations with makers of all sorts of (light) electric vehicles.
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At a South Korean fair, Kia has now presented the serial version of their fully electric Niro. The Kia Niro EV will be released in Korea in July, and will be introduced to the European market after the Paris Motor Show in October.
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South Korea’s government and leading corporations of the country agreed to start a business with the aim to install a network of hydrogen filling stations. Hyundai as well as the state-owned Korea Gas Corporation are part of the deal set for this November.
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Volkswagen is pushing electric mobility and has to find batteries in order to scale up. After joining forces with CATL in China just days ago, the Germans have now turned to Korea, where VW announced a new partnership with LG Chem and Samsung SDI.
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Kia is to launch the third generation of its Soul EV this year, this time riding on the new Kona/Niro platform and boasting more range than ever. An optional bigger battery pack shall bring the electric Korean as far as 500 kilometres on a charge.
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Nissan’s newest vehicle, the BEV Leaf, has been slated for release in a total of 7 additional countries, alongside the already announced market nations, paving the way further to the goal of offering the vehicle in up to 60 countries around the world.
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The recently announced subvention program that the South Korean government planned to roll out, has officially taken effect. A total of 12 million Won (11,160 dollars) per person have been allocated to subvention a total of 16 different car models from both local and foreign producers.
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Since the beginning of the year, the country’s government is no longer granting 14m won (around 10,700 euros) to everybody buying an EV, but contributes 10.7m to 12m won – depending on the EV’s battery capacity.
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