S. Korea's gov: produce EVs from 2014 to dominate global market

http://www.globalpost.com/dispatch/news/yonhap-news-agency/130328/renault-samsung-electric-car
Renault Samsung-electric car  Mar 28 2013

SEOUL, March 29 (Yonhap) -- Renault Samsung Motors Co., the South Korean
unit of French automaker Renault S.A., said Friday that it has signed a
memorandum of understanding with the country's environment ministry and six
other companies to promote the use of electric cars.

Under the deal, Renault Samsung will develop an electric car and sell it
below 45 million won. The environment ministry, in return, will provide
subsidies to companies and public offices that buy electric cars.

Renault Samsung and the government will work together to set up
infrastructure such as charging stations that make it more convenient to use
electric cars, according to the company.

Other details of the MOU were not revealed.

South Korea's government said earlier it will begin producing mid-size
electric vehicles from 2014 in an attempt to secure a dominant position in
the global market.

Hyundai Motor Co., along with its 43 partners and suppliers, developed the
country's first compact electric vehicle, the BlueOn, in 2011. Kia Motors
Corp., an affiliate of Hyundai, is also developing an electric compact
utility vehicle.

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[© 2013 GlobalPost]
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