North Korean company importing EVs as interest in vehicles grows

A video uploaded by Kancctv, a YouTube channel reporting on North Korea, shows a car with a license plate that reads “Madusan Electric Vehicle.″ [SCREEN CAPTURE]

A North Korean car importer has been spotted importing and selling electric vehicles, according to a YouTube channel reporting on North Korea.

Kancctv, a YouTube channel that posts videos about North Korea, posted an eight-minute video on Saturday introducing a North Korean company named Madusan Economic Federation.

Established in May 2018, Madusan Economic Federation is a business entity that reportedly focuses on trade and investment. In addition to importing and selling EVs, the organization engages in several other businesses, including shipping, operating coal mines, and processing and exporting precious metals, according to the video.

“Madusan has been actively importing and selling electric vehicles through cooperation and exchanges with leading overseas electric vehicle production companies and vehicle service companies,” the Kancctv video said.

The video also shows an EV with a license plate that reads “Madusan Electric Vehicle” arriving at an exhibition hall through a rainy street. It said the vehicle has a maximum range of 720 kilometers (447.4 miles) per charge.

The video appears to be a promotional video for Madusan Economic Federation designed to attract foreign investors and partners.

The North Korean company also seemingly intends to import EVs rather than produce and develop them in-house.

North Korea’s interest in EVs has been growing in recent years.

Last year, North Korea reportedly opened the Madusan Electric Vehicle Exhibition Center on Hwasong Street in Pyongyang.

At the time, photos were posted on Chinese social media Weibo showing several EVs believed to be from BYD, China’s No.1 electric vehicle manufacturer.

However, since many businesses in North Korea, including automobiles and shipping, could violate UN sanctions on North Korea, attracting investment from countries other than China or Russia has proven a challenge.

BY HAN JEE-HYE,LIM JEONG-WON [lim.jeongwon@joongang.co.kr]