Domestic sales and exports of electric vehicles plummeted in the first quarter of 2024, while sales of hybrid vehicles ballooned. The analysis is that hybrid vehicles, which are more fuel-efficient and environmentally friendly, are becoming a substitute as electric vehicles have fallen into a chasm
General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
Despite a slowdown in the growth of electric vehicles, it was revealed that the usage of electric vehicle batteries increased by 38.6 percent last year compared a year earlier. Chinese companies CATL and BYD jointly secured the top two positions in the global market. The market share of South Korea’
U.S. General Motors (GM) Chairwoman Mary Barra will visit South Korea to meet with battery partners -- LG Energy Solutions and Samsung SDI -- on Feb. 7. Barra has made several unofficial visits to South Korea since taking office as chairwoman in 2016, but this is the first time she has officially co
Korea’s three major battery makers lost to China’s CATL and BYD in the global electric vehicle battery market standings from January to November 2023, dropping by 1.3 percentage points year on year.According to SNE Research, a market research firm specializing in energy, the total usage of batteries
BMW Korea has reclaimed its position as the leader in the South Korean imported car market for the first time in eight years, surpassing Mercedes-Benz Korea. Sales of eco-friendly cars, including electric and hybrid vehicles, have overtaken gasoline cars.According to the Korea Automobile Importers &
Thirty-one electric vehicle (EV) models, or about 80% of all subsidized EV models in the United States this year, use Korean-made batteries, according to sources in the battery industry. This is an increase of 14 in seven months from 17 in April.The 31 subsidized EV models in the United States as of
LG U+ announced on Dec. 11 that it has signed a memorandum of understanding (MOU) with Korea Toyota Motor Corporation to develop membership services and install chargers for expanding the domestic electric vehicle (EV) charging infrastructure.As part of this agreement, both companies will develop ne
Global EV battery usage continued to enjoy double-digit growth this year despite concerns that the growth of the EV market will slow down.The total usage of batteries in battery electric vehicles, plug-in hybrids, and hybrid vehicles registered in various countries from January to October this year
Hyundai Motor Group, which controls both Hyundai Motor and Kia Corp., ranked seventh globally, posting sales of 378,462 electric vehicles (EVs), battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and hydrogen fuel cell cars sold worldwide from January to September this year. Including sales o
Hyundai Motor Group’s three car brands -- Hyundai, Kia and Genesis -- sold 173,428 units in the U.K. passenger car market in the first 10 months of this year, up 8.7 percent year on year, according to the Society of Motor Manufacturers and Traders (SMMT) on Nov. 20. Their market share stood at 10.8
The number of new imported vehicle registrations, mainly new imported electric vehicle (EV) registrations, slid, but only that of new imported hybrid vehicle registrations rose in Korea in October.The Korea Automobile Importers & Distributors Association (KAIDA) said on Nov. 3 that the number of new
Chinese companies’ share in the European electric vehicle (EV) battery market is sharply rising. Concurrently, Korean battery companies, which have been strong players in the European market, have seen their share on the decline, losing ground to their Chinese competitors.According to market researc
Three out of every 10 imported sport utility vehicles (SUVs) sold in the first half of 2023 were high-priced cars worth more than 100 million won.A total of 28,005 imported SUVs costing more than 100 million won were sold in Korea from January to August this year, up 15.9 percent from 24,156 units i
Mercedes-Benz has overtaken BMW as the No. 1 brand in monthly imported car sales after three months in the Korean imported car market. Audi remained in third place for the second consecutive month.The Korea Automobile Importers and Distributors Association (KAIDA) said on Sept. 5 that 23,350 importe
Amid concerns of dampened consumer sentiment in the latter half of this year, imported car manufacturers are launching aggressive discount campaigns.According to industry sources on Aug. 23, the “Big Three” German car manufacturers – BMW, Mercedes-Benz, and Audi – initiated their discount promotions
The semiconductor battle between the United States and China is escalating. The U.S. has imposed sanctions on semiconductor exports to China, citing threats to national security, to which China responded by blocking exports of key semiconductor minerals. The U.S. is now considering restricting even
The total amount of battery energy in electric vehicles registered in 80 countries around the world in the first half of this year was 304.3 gigawatt hours (GWh), up 50.1 percent year on year, according to SNE Research on Aug. 3. The electric vehicles included battery electric vehicles (BEVs), plug-
The number of new imported passenger car registrations in July was 21,038, down 1.3 percent from a year earlier, according to the Korea Automobile Importers & Distributors Association on Aug. 3. The figure was down 21.0 percent from the previous month. The cumulative total from January through July
Hyundai Motor and Kia achieved double-digit sales growth in the United States in July, driven by their focus on eco-friendly vehicles. Remarkably, Kia marked a significant milestone with its twelfth consecutive month of setting new sales records.Hyundai Motor America (HMA) announced on Aug. 1 (local