SK On lands mega battery deal with Nissan

1st deal with Japanese automaker estimated to be worth over W15tr SK On has secured a large-scale contract to supply 99.4 gigawatt-hours of electric vehicle batteries to Nissan, the Korean battery maker announced Wednesday. According to the announcement, SK On will supply batteries to the Japanese automaker from 2028 to 2033. The total supply is enough to power about one million medium-sized EVs. The exact worth of the contract was not disclosed. Given the agreement's size, battery industry watc

March 19, 2025

Samsung SDI’s capital increase under review amid stock slump

Samsung SDI faced shareholder backlash following a drop in stock price after raising 2 trillion won ($1.4 billion) through a paid-in capital increase to fund battery facility investments. During a shareholders meeting on Wednesday, concerns were raised about why the company opted for a capital increase rather than issuing corporate bonds, which could have protected existing shareholders’ interests. A capital increase involves issuing new shares to raise funds without incurring interest burdens,

March 19, 2025

Renault Korea’s rebranding gains momentum with Grand Koleos

Renault Korea said Wednesday that its latest mid-size sport utility vehicle, the Grand Koleos, is expanding its presence as it drives up the carmaker’s overall sales in Korea. The Grand Koleos — the company’s first new model in four years — made a strong debut at the 2024 Busan Mobility Show. In the first four months since its launch, over 22,000 were sold. Renault Korea said this surge in demand contributed to an 80 percent year-over-year growth in sales last year, boosting both its domestic pe

March 19, 2025

Seoul Mobility Show 2025 to feature transportation beyond wheels

Record-setting 451 companies to participate in Korea’s biggest mobility exhibition The 2025 Seoul Mobility Show will push the boundaries of conventional motor exhibitions by showcasing transportation beyond cars, its organizers said Wednesday. “The 2025 Seoul Mobility Show will present the most diverse range of products and services in the 30-year history of the exhibition,” said Kang Nam-hoon, CEO of the Korea Automobile & Mobility Association who also serves as the chief of the Seoul Mobility

March 19, 2025

LG Energy Solution, Doosan Bobcat to co-develop battery for small heavy equipment

Korean companies collaborate to target North American market LG Energy Solution and Doosan Bobcat have joined hands to develop battery pack solutions for small construction equipment, the companies said Wednesday. Under the partnership, LG Energy Solution’s cylindrical battery products will be loaded onto Doosan Bobcat’s project to turn its existing models into all-electric models. The two Korean firms will also cooperate in codeveloping standardized battery packs that could be expanded to vario

March 19, 2025

Hyundai Mobis to set up Silicon Valley lab for automotive chips

Hyundai Mobis, Korea’s leading auto parts manufacturer, announced Tuesday that it will establish a research base in Silicon Valley, California, to accelerate the development of its proprietary automotive semiconductors. Set to open this year, the research center will focus on designing semiconductors tailored to the US market and driving environment. It will operate alongside the company's existing research center in Korea, which develops semiconductors for the Korean market. With its presence i

March 18, 2025

FSK L&S secures fulfillment deal for Ford-SK battery plants in US

FSK L&S, SK Square’s logistics subsidiary, said Monday it has secured a deal to operate fulfillment centers for three battery plants of BlueOvalSK, a joint venture between SK On and Ford Motor Company, in the US. “When FSK L&S receives battery orders from Ford, the service involves packaging and delivering pre-stocked battery inventory,” said an SK Square official. “This is the first time a company has provided fulfillment services for electric vehicle batteries, a service traditionally associat

March 17, 2025

Porsche Macan EV, too good to be electric

Porsche is seeking a turnaround in South Korea, its fifth-largest market, with the Macan Electric, an electrified version of its bestselling sport utility vehicle and its first all-electric model. In 2023, the German luxury carmaker reached a milestone achievement by exceeding annual sales of 10,000 units in Korea for the first time. However, with sales dropping by nearly 30 percent last year, the success was short-lived. “(The gas-powered) Macan has been in production for over 10 years. With tw

March 16, 2025

Mini Aceman: The all-electric new kid on the block

First EV model blends innovation with iconic brand's timeless appeal BMW Group’s premium compact SUV brand Mini has held a unique position in the auto market thanks to its rounded, approachable design paired with go-kart-like driving performance. The new all-electric Mini Aceman, the brand’s first dedicated EV model, is poised to expand its dedicated fan base by offering a fresh alternative. The Korea Herald got to take the wheel of the Mini Aceman during the German automaker’s launch ceremony f

March 14, 2025

Volkswagen launches new Golf in Korea to energize hatchback market

Volkswagen launched the face-lifted eighth-generation Golf in Korea on Friday, pledging to invigorate the hatchback market. "Volkswagen Korea is here to shake up the market. In a landscape dominated by SUVs and sedans, we bring something different," said Till Scheer, CEO of Volkswagen Group Korea, at the launch ceremony in Incheon. "The first goal of the Golf is clear: to offer an attractive portfolio and become the top choice for our Korean customers." With a history spanning over half a centur

March 14, 2025

Kia to complete EV lineup by next year: CEO

Korean automaker aims to lead mass adoption of EVs with affordable models Kia has reaffirmed its plan to complete a full lineup of electric vehicles with launches of three new all-electric models through next year, aiming to lead the popularization of EVs. “The full lineup of mass-market models ranging from the EV2 to EV5 will secure the same level as internal combustion engine vehicles in terms of the (total cost of ownership),” said Song Ho-sung, CEO of Kia, during the company’s general meetin

March 14, 2025

Court rules in favor of LS Cable in patent case against Taihan Cable

Taihan Cable ordered to pay W1.5b in compensation to LS Cable & System for patent infringement LS Cable & System won the second round of a legal dispute with Taihan Cable, according to a ruling on Thursday by the Intellectual Property High Court. The court ordered Taihan Cable to pay 1.5 billion won ($1.03 million) in compensation to LS Cable & System, ruling that it had partially infringed on LS Cable & System's patent for a joint kit used in bus ducts. A lower court ruled in 2022 that Taihan C

March 13, 2025

Hyundai Mobis unveils new vision to drive future mobility innovation

Auto parts-maker targets 8% annual growth by 2027, vows to diversify clientele beyond Hyundai, Kia Korea’s leading manufacturer of auto parts, Hyundai Mobis has unveiled its new corporate vision as “Lead the shift in mobility, move the world beyond possibilities," renewing its commitment to pioneering futuristic mobility innovations. The slogan was unveiled Wednesday at the company's technology research center in Yongin, Gyeonggi Province, by Hyundai Mobis CEO Lee Gyu-suk. Employees worldwide at

March 13, 2025

[Photo News] Mini electrifies Korea

Mini launched three new all-electric vehicles ― the new all-electric Mini Cooper, the new all-electric Mini Aceman and the new all-electric Mini Countryman ― in Korea on Thursday, aiming to invigorate the stalling EV market. Mini Korea said it will provide a charging card worth 500,000 won ($345) to buyers of the new electric Mini. The price of the new all-electric Mini lineup begins at 49.7 million won. (BMW Korea)

March 13, 2025

Korean EV battery-makers uneasy as Trump stays silent on tariffs

Trump could target battery materials sourced from China, sources say South Korean battery companies are closely monitoring the second Donald Trump administration’s potential imposition of tariffs on key battery materials produced in Korea. The concern follows the enforcement of 25 percent duties on Korean steel and aluminum that took effect Wednesday, with additional tariffs expected next month. While electric vehicle batteries are currently exempt from the proposed tariffs — set to be enforced

March 12, 2025