Investment in 5th EV Power
A Renault Formula-e Road Show takes place as part of the International Electric Vehicle Expo from March 17 in Jeju Island.
“South Korea has an ambitious electric vehicle (EV) policy by 2020. Renault Group thinks Korea will be the fifth largest EV country in the world so we will actively invest in the country.” Renault Group Vice Chairman Gilles Normand expressed his strong will for the Korean EV market during a Formula-e Road Show press conference held at Maison Glad Jeju hotel on March 17.
He went on to say, “Renault has decided to jump into the EV business due to the responsibility that the car industry accounts for a fourth of carbon emissions in the world. The company will apply the high-end technology used in the Formula-e machine, which was unveiled for the first time in Asia, to commercial EVs.”
Renault Samsung Motors will join hands with Jeju Island, which aims to replace all cars in Jeju city with EVs by 2030, to expand the EV market, focusing on the investment. In particular, the company will build the first EV service center on Jeju Island. Renault Samsung sold about 1,000 EVs in Jeju until last year, and it plans to increase sales and expand service networks for drivers in earnest from this year.
In addition, Renault Samsung invested billions of won to bring in a racing car powered by an electric motor that is capable of a maximum speed of 220 kilometers per hour, introducing it to Jeju residents on the same day. The company blocked 600 meters of the road in Jeju City and a professional racer drove the EV at high speed, drawing many gasps and applause the audience. The Renault Formula-e racing car, an official racing car of the FIA Formula E Championship, is able to accelerate from 0 to 100 kilometers per hour just in three seconds. Renault Samsung is adopting the latest technology used in the Formula-e in the Z.E. EV series, which are produced in its Busan plant, to improve the motor and battery.