Construction of a cathode material plant in Becancour, Quebec -- a joint venture between Korea’s EcoPro BM, SK On, and US automaker Ford -- has been halted for the second time this year, amid growing uncertainty surrounding Ford’s electric vehicle strategy. The plant's construction began in August last year and was initially paused in April this year due to issues with selecting a contractor and finalizing the facility’s design. At the time, Francois Legault, the Premier o

Mobility Aug. 19, 2024

A mass sell-off of EVs has begun in South Korea, following a fire involving a Mercedes-Benz EV in Incheon that destroyed more than 140 cars and sparked proposals to restrict EVs' access to underground parking lots. Since the fire on Aug. 1, the market has been flooded with used EVs. K Car, Korea’s second-largest used car trading platform, reported an 184 percent increase in used EV listings in the first week of August compared to the final week of July. The Mercedes-Benz EQE series, w

Mobility Aug. 16, 2024

“Our Mercedes-Benz customers are upset, and some are canceling their EV reservations. They’re saying, ‘How can you use cheap Chinese batteries in a luxury car?’ They’re angry because they feel betrayed,” said a manager at a Mercedes-Benz dealership in Korea. This backlash stems from the revelation that the battery in a Mercedes electric vehicle that led to a major fire in an Incheon apartment underground parking lot on Aug. 1 was made by Farasis Energy, a rela

Mobility Aug. 14, 2024

The Korean government will issue an advisory urging every electric vehicle automaker in Korea to disclose battery manufacturers and offer free inspections to owners, in response to rising concerns about EV safety following a ravaging fire in an underground apartment parking lot in Incheon. The government held a high-level meeting Tuesday, chaired by Bang Ki-sun, minister of government policy coordination, with vice ministers from key ministries, including Interior and Safety, Industry, Environme

Mobility Aug. 13, 2024

Hyundai Motor Company and Kia have announced a free inspection service for all owners of their electric vehicles, responding to heightened safety concerns following a recent apartment fire in Cheongna International City, Incheon earlier this month. The inspection service, already underway since Aug. 8 for Hyundai and Aug. 9 for Kia, aims to reassure customers by thoroughly checking the safety of their vehicles. Hyundai and Genesis owners can access inspections at 22 premium High Tech and 1,234 a

Mobility Aug. 13, 2024

Mercedes-Benz Korea on Tuesday revealed the battery suppliers for all its electric cars sold here on its official Korean website and announced free inspections for all EV owners to address mounting safety concerns in the wake of a devastating fire in Incheon involving one of its electric vehicles. This announcement comes 12 days after the fire and follows similar actions taken by domestic automakers Hyundai Motor Company and Kia, both of which recently disclosed their EV battery suppliers. BMW K

Mobility Aug. 13, 2024

Electric vehicle battery manufacturers are bracing for increased scrutiny as South Korea considers new regulations requiring automakers to disclose their battery suppliers for each vehicle model, following a series of EV-related fires including a blaze in Incheon that damaged 100 vehicles. The car in the Incheon fire was a Mercedes-Benz equipped with a battery from Farasis, a Chinese manufacturer ranked 10th in the world by revenue. The exact cause of the fire -- whether it stemmed from the batt

Mobility Aug. 12, 2024

Hyundai Motor Group is addressing public safety concerns over electric fires in Korea by disclosing the battery manufacturers for its electric vehicle lineup and implementing enhanced safety features. It has listed the battery manufacturers for all 13 Hyundai and Genesis EVs on its official Korean website. According to the carmaker, most of the Hyundai EVs, including the flagship Ioniq brand cars, used batteries from Korea’s LG Energy Solution and SK On. Hyundai’s Kona Electric was t

Mobility Aug. 11, 2024

Nexon has set a new record for second-quarter revenue and operating profits, driven by the exceptional performance of Dungeon & Fighter Mobile in China, which launched in May earlier this year. In its latest filing to the Tokyo Stock Exchange on Thursday, Nexon reported a 64 percent year-over-year increase in operating profit, reaching 45.2 billion yen ($310.2 million) for the second quarter of this year. Revenue for the quarter surged 30 percent to 122.5 billion yen, and net income rose 63

Companies Aug. 8, 2024

"No EVs permitted in underground parking areas." These signs have recently popped up at some apartment complexes and office buildings across South Korea, a response to a severe fire earlier this month. An electric vehicle ignited in the underground parking lot of an apartment building in Cheongna International City, Incheon, triggering widespread fear and leading some apartment managers to ban EVs from these spaces entirely. The fire began with a stationary, uncharging Mercedes-Benz EQ

Mobility Aug. 8, 2024

Krafton, the South Korean game developer behind PUBG: Battlegrounds, said Tuesday it had appointed Oh Jin-ho, a seasoned executive with experience at Riot Games and Blizzard Entertainment, as its new chief global publishing officer. Oh's extensive background includes major roles such as general manager of Riot Games and president of Blizzard Entertainment Korea and Southeast Asia, where he was instrumental in localizing and launching blockbuster games like World of Warcraft and StarCraft. O

Companies Aug. 6, 2024

Hyundai Glovis has partnered up with Chinese firm Huayou Cobalt to create an extensive recycling network for electric vehicle batteries, aiming to lead the way in sustainable battery management. Hyundai Glovis, a Korean logistics and distribution powerhouse, inked a memorandum of understanding with Zhejiang Huayou Recycling Technology, or Huayou Recycling, a subsidiary of cobalt giant Huayou Cobalt. Known for being the world's top producer of cobalt -- a crucial element for EV batteries --

Mobility Aug. 5, 2024

Shift Up, the South Korean game developer behind blockbusters such as “Goddess of Victory: Nikke” and “Stellar Blade,” made an exhilarating debut on South Korea’s KOSPI market on July 11. The buzz within the Korean game industry revolved around whether Shift Up could challenge the market dominance of NCSoft, a veteran giant in the sector. On its debut, Shift Up’s stock surged to 89,500 won, boosting its market capitalization to nearly 5.2 trillion won ($3.

Companies Aug. 4, 2024

As the US government intensifies efforts to regulate Chinese technology in connected vehicles over national security concerns, South Korea and other key allies are coordinating to balance these security goals with potential supply chain disruptions. The US State Department convened a meeting Wednesday with representatives from allied governments and industry leaders, including officials from South Korea, Australia, Canada, the European Union, Germany, India, Japan, Spain and the United Kingdom.

Mobility Aug. 2, 2024

The Korean automotive electric parts sector is thriving even as electric vehicle sales slow down, driving significant gains for Samsung Electronics and LG Electronics in the second quarter. Automotive electric parts encompass a range of components integral to modern vehicles, particularly electric and hybrid models. These include infotainment systems offering multimedia and connectivity features, digital cockpits replacing analog gauges with digital displays and premium car audio systems from

Mobility Aug. 1, 2024