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Tue, January 26, 2021 | 21:06

Tesla CEO says electric cars will double global electricity demand

Tesla CEO says electric cars will double global electricity demand

Tesla Chief Executive Elon Musk said on Tuesday that electricity consumption will double if the world's car fleets are electrified, increasing the need to expand nuclear, solar, geothermal and wind energy generating sources. Increasing the availability of sustainable energy is a major challenge as cars move from combustion engines to battery-driven electric motors, a shift wh...

2020-12-02 11:02

LG Energy Solution sets sail to target growing EV market

LG Energy Solution sets sail to target growing EV market

LG Chem Ltd.'s battery business officially launched its standalone company Tuesday to take a bigger chunk of the growing battery market, but a bumpy road lies ahead to stay on top of the highly competitive industry. Kim Jong-hyun, who served as president of LG Chem's battery unit, takes the helm of LG Energy Solution Ltd., setting a goal of raising over 30 trillion won (US$27...

2020-12-01 13:48

Hyundai, Kia set to ride on recovering car demand

Hyundai, Kia set to ride on recovering car demand

Hyundai Motor and Kia Motors are expected to see an increase in car sales according to industry analysts, Monday, who claim that poor demand due to the impact from the COVID-19 pandemic this year will be soon mitigated. The two representative brands will also be able to enjoy an improved average selling price for their models as their strategy to concentrate on selling more e...

2020-11-30 16:05

Kumho Tire makes rebound in third quarter

Kumho Tire makes rebound in third quarter

Kumho Tire successfully rebounded to make a profit in the third quarter this year thanks to the increase in demand for replacement equipment (RE) tires in global markets including the United States and China. According to the tiremaker, its operating profit was recorded at 43.9 billion won, skyrocketing by 176.1 percent year-on-year.

2020-11-29 16:48

BMW Korea sees surge in sales

BMW Korea sees surge in sales

BMW Korea has seen a continuous surge in sales. According to the Korea Automobile Importers & Distributors Association's (KAIDA) newly registered vehicle report, BMW sold 47,093 units between January and October, which is a 37 percent increase on the same period last year.

2020-11-27 13:32

Porsche Taycan lands in Korea

Porsche Taycan lands in Korea

Porsche Korea CEO Holger Gerrmann poses with the Taycan 4S electric vehicle in this photo released on Thursday. Porsche Korea launched two versions of the electric sports car in the domestic market ― Performance Battery generating up to 530 horsepower and Performance Battery Plus yielding up to 571 horsepower. The price begins from 145.6 million won. Courtesy of Porsche Korea

2020-11-26 16:17

Hyundai Motor, Lotte chiefs meet over potential biz opportunities

Hyundai Motor, Lotte chiefs meet over potential biz opportunities

The heads of Hyundai Motor Group and Lotte Group held a meeting on Wednesday, people familiar with the matter said, in an apparent move to explore potential business partnership between the two major conglomerates.

2020-11-25 21:36

Renault Samsung woos drivers with more powerful SM6

Renault Samsung woos drivers with more powerful SM6

Renault Samsung Motors said Wednesday it has been attracting customers for its face-lifted SM6 sedan as the recently launched model's new gasoline turbo engine offers a dynamic driving experience.

2020-11-25 16:45

Tesla to build 'world's largest' battery plant near Berlin

Tesla to build 'world's largest' battery plant near Berlin

Tesla boss Elon Musk said Tuesday that he plans to build the world's largest battery-cell factory at the group's electric car plant near Berlin. Tesla has already started construction on a huge "gigafactory" in a forested area in Gruenheide, south of the German capital, due to open next year.

2020-11-25 13:45

SsangYong to capitalize on pandemic-triggered outdoor boom

SsangYong to capitalize on pandemic-triggered outdoor boom

SsangYong Motor is hoping for improved sales as consumers increasingly pursue outdoor activities, a trend that has grown as people are seeking less populated locations to spend their time amid the COVID-19 pandemic.

2020-11-24 16:35

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