New facility to supply battery packs for Tata Daewoo Mobility.

Subsidies are now based on performance and range.

Glovis to use the HFC trucks for daily parts deliveries.

The South Korean province aims to replace its entire fleet of diesel-powered buses by 2030.

The commercial vehicle market over 2 tons gvw continued to decline sharply in the third quarter of 2024, by almost 19% to 43,267 units from an already weak 53,150 sales a year earlier.

The South Korean company has expanded its range of battery-powered city buses.

Sales declined by 15% to 276,272 in the third quarter of 2024.

Kia is currently building a new plant in South Korea’s Gyeonggi province dedicated to the production of battery-powered PBVs of various sizes and specifications.

The Tata Daewoo company was founded in 1995 as Daewoo Commercial Vehicle Company Ltd and was acquired by India’s Tata Motors Ltd in 2004.

The Kia Tasman will be the Hyundai Motor Group’s first one-ton pickup truck when it goes on sale in global markets in 2025.

The deal, understood to be worth KRW13trn (USD9.4bn), comes a year after the two companies decided to scrap plans to build a battery manufacturing joint venture in Turkey due to weakening demand for electric vehicles (EVs) in Europe.

Established last year, ‘Our Next Energy Korea Ltd’ was based out of an office in Hwaseong and employed less than ten people.