South Korea's January-September EV exports surge
South Korean exports of electric vehicles (EVs) during January-September rose by 144pc from a year earlier to 49,160 units, supporting increased demand for cobalt and other key battery materials.
Total exports of EVs and other unconventional vehicles, such as hybrid gasoline-electric cars, were up by 42pc to 180,933. The increases accelerated in September, as volumes rose by 83pc to 24,808 units. Exports of fuel cell electric vehicles have quadrupled this year, up by 364pc during January-September to 571. The EV and hybrid segment accounted for nearly 15pc of South Korea's auto exports in September, up from 8pc a year earlier.
South Korea aims to more than double its share of the global market for EVs and hydrogen cars to 10pc by 2030. It has pledged more than 62 trillion won ($53bn) in public and private-sector investment to the industry.
Seoul also targets a 33pc share of the country's domestic auto market for EVs and hydrogen cars by 2030. Domestic EV sales during January-September rose by 21pc to 24,963 units, despite sliding by 36pc in September to 1,910. Seoul has budgeted subsidies as high as W19mn each for up to 42,000 domestic EV sales this year. Subsidies will increase to 65,000 EVs in 2020.
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
