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Automakers Compete to Launch Electric Cars

GM Korea on Tuesday unveiled a new electric car that will go on sale in October. Officially priced at W39.9 million (US$1=W1,117), it will benefit from subsidies both from the Environment Ministry (W1.5 million) and local governments (W8 million in Jeju) and could therefore come as cheap as W16.9 million.

Other automakers are jumping on the bandwagon. Kia launched the Ray EV last month, while Renault Samsung’s SM3 ZE will hit the market in October.

GM launched the Spark EV in Incheon on Tuesday. It can travel up to 135 km on a single charge, so by driving it for seven years at 15,000 km per year, motorists can save up to W12.08 million compared to a gasoline model, the automaker claims.
The Spark EV /Courtesy of GM Korea The Spark EV /Courtesy of GM Korea

The Spark EV will be produced in Changwon and also exported to overseas. In the U.S., it hit showrooms last month and so far over 100 have been sold
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