Umicore and Samsung SDI have signed a strategic agreement to supply nearly 80,000 tonnes of NMC (Nickel Manganese Cobalt) cathode material from 2020. The supply will come from Umicore plants in various regions, most of them initially from Korea.
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By the year 2030, every third new car in South Korea is to be battery-powered or running on hydrogen. The government has now officially issued this target. Politicians also believe that companies must facilitate this too.
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After Hyundai has started developing its first model based on the dedicated Electric-Global Modular Platform (E-GMP) under the project name NE, further details are now becoming known.
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The automotive parts manufacturer MS Autotech has just become a contract manufacturer for Byton in South Korea. Through its subsidiary Myongshin, MS Autotech will produce more than 50,000 electric cars annually – in a former General Motors factory.
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Umicore and LG Chem have entered into a multi-year strategic supply agreement for NMC (Nickel-Manganese Cobalt) cathode materials to meet LG Chem’s needs from Umicore plants in Poland, South Korea and China.
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South Korea’s President Moon Jae-in is setting a good example by using a Hyundai Nexo as his official car. He will be demonstrating the technology for locals, doing marketing and addressing range anxiety in one.
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In the coming year, the South Korean government will provide the equivalent of around 900 million dollars in subsidies for e-mobility. The money will not only be used to subsidise electric and fuel cell cars, but also the associated infrastructure.
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Taiwanese electric scooter manufacturer Gogoro has launched its Gogoro 2 Utility scooter and battery-replacement network built for B2B industries in the city of Seoul with cooperation partner TIC corporation.
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Tesla has started selling Model 3 in South Korea at prices starting at 52 million won (about 43,000 dollars) before subsidies. Buyers can look forward to subsidies from the state government and provincial governments totalling up to 20 million won.
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Earthtech will be the first Korean company to enter the battery recycling business and recently started construction of a dedicated facility for dismantling electric vehicles and recycling used batteries.
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Hyundai Mobis, the South Korean automotive supplier belonging to the Hyundai Motor Group, is investing the equivalent of around 322 million dollars in the construction of a new plant for electric car components.
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The South Korean battery cell manufacturer LG Chem is investing 500 billion won (424 million dollars) in the construction of a factory to manufacture cathode material for lithium-ion batteries.
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The number of battery-powered city buses on the streets of the South Korean capital Seoul is expected to rise to 143 this year. Private bus companies are being promoted by the city government to ensure that the switch to electric buses is successful.
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Hyundai has now released the prices for the revamped all-electric Ioniq, a few weeks after the hybrid and plug-in hybrid versions. The upgraded all-electric model will hit markets in the second half of this year.
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More passengers with the same dimensions and emission-free: Hyundai has introduced its first electrically powered double-decker bus. When and in which countries the new 70-seater will be sold has yet to be revealed. Also new from the Korean company is a system for smaller electric commercial vehicles.
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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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