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
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years