CHENNAI : South Korea’s Hyundai Motor Co said on Thursday it will invest 200 billion rupees ($2.45 billion) in the Indian state of Tamil Nadu over the next 10 years to beef up electric vehicle production in the world’s most populous country. Tamil Nadu’s Chennai, dubbed the Detroit of Asia, is a hub for automobile […]
BP enters South Korea’s offshore wind sector – EQ Mag
LONDON : BP BP.L has entered South Korea’s offshore wind sector after acquiring a stake in Norwegian group Deep Wind Offshore’s portfolio of projects in the country, as the British energy firm continues its expansion in the fast-growing renewables market. BP bought a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio, which includes […]
Kia sees affordable electric vehicles revving up India sales by 5X in 3 years – EQ Mag
South Korea’s Kia Corp. expects sales of electric passenger vehicles in India to develop 5 instances in the subsequent three years, as auto makers launch a number of merchandise on the affordable finish of the market. Kia India’s managing director, Tae-jin Park, instructed ET that acceptance of electric vehicles (EVs) in the nation has been […]
Australian battery metal players key to South Korea’s EV ambition – EQ Mag
SYDNEY : Australia will play a big role in South Korea’s ambition to lead the electric vehicle batteries market and diversify from China for its battery metals needs, a top South Korean executive said on Wednesday. Ben Bosung Kim, the managing director for steel giant POSCO in Australia, said the company has already invested around […]
Ingeteam delivers converters for South Korea’s first smart electric passenger ship – EQ Mag
Ingeteam has recently completed the supply and commissioning of its equipment for a smart electric ship for the company Hyundai Global Service, a South Korean firm specialised in the provision of maritime services for shipbuilding. This ship is South Korea’s first smart electric passenger ship. Ingeteam has been working on the project for the last […]
ACWA Power And South Korea’s KEPCO Set To Explore Industrial Scale Green Hydrogen/Ammonia Production Intended For Utilisation In KEPCO’S Power Plants In South Korea – EQ Mag Pro
Riyadh, KSA : ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, and Korea Electric Power Corporation (KEPCO), South Korea’s largest electric utilities provider, today signed an extensive memorandum of understanding (MoU) that proposes a potential partnership in the development of green hydrogen/ ammonia projects […]
South Korea’s LG Energy Solution to supply batteries to India’s Mahindra – EQ Mag Pro
SEOUL : South Korean battery maker LG Energy Solution is set to supply batteries to Mahindra & Mahindra’s first electric sports utility vehicle (SUV), a source familiar with the matter said on Monday. The batteries will power the Indian automaker’s XUV400 SUVs, likely scheduled for delivery between the fourth quarter and January, the source said. […]
South Korea’s LG Energy Solution IPO attracts around $80bn in bids – EQ Mag Pro
South Korean battery maker LG Energy Solution’s (LGES) $10.7 billion initial public offering (IPO) has received bids worth around $80 billion from institutional investors, two sources with direct knowledge of the deal said. The book for the offering will close on Wednesday with deal pricing set for Friday. LGES did not immediately respond to a […]
Korea Needs Massive Renewable Growth to Reach New Climate Target – EQ Mag Pro
South Korea’s aggressive new climate target will require the country to significantly ramp up its renewable energy generation, particularly in the wind sector. President Moon Jae-in pledged to cut the nation’s greenhouse gas emissions by 40% from 2018 levels by 2030 in his speech at the annual U.N. climate conference in Scotland. “It isn’t an […]
Skills gap to slow down EV sector’s growth? – EQ Mag Pro
South Koreas three major players, which command a third of the global electric vehicle (EV) battery market, told Reuters they were all grappling with a shortage of research and engineering specialists as demand for the technology balloons. The South Korean battery giants powering many of the world’s electric vehicles face a skills shortage that could […]