Kia, Ford Korea and two other carmakers will voluntarily recall more than 58,000 vehicles due to faulty components, the transport ministry said Thursday.
LG Energy Solution signed two supply agreements with Ford Motor to provide 109 gigawatt-hours (GWh) worth of EV batteries.
Hyundai Motor Group claimed No. 2 in the U.S. EV market, outpacing Ford and GM.
Korea’s Kim Hyo-joo finished a stroke behind Lee in a five-way tie for eighth place with 16-under-par, 272.
Ten automakers including Hyundai Motor, Mercedes-Benz and Porsche were fined for selling vehicles that failed to meet safety standards.
Korean battery makers are facing challenges as global automakers delay their EV plans amid slowing demand. LG Energy Solution's joint battery plant in Tennessee will be delayed due to General Motors downsizing its EV production capacity.
Korean battery makers see an opportunity as Ford temporarily pauses its joint battery plant project with CATL, potentially boosting their market share in North America.
EcoPro is aggressively expanding its overseas presence as it aims to become a key player in the fast-growing electric vehicle market.
SK On, EcoPro BM and Ford will jointly pour 1.2 billion Canadian dollars ($886 million) to construct a cathode plant in Quebec, Canada, the companies announced Thursday.
With multi-billion dollar joint projects with big U.S. automakers agreed, Korea's major battery makers are on high alert in the wake of the United Auto Workers (UAW)'s call for a wage hike.
Korea JoongAng Daily Sitemap
