South Korean Companies Trailblazing into CleanTech

The South Korean Government has been one of the most proactive ones in promoting Green Industry.During the Global Financial Crisis,the Stimulus Program of South Korea had the highest percentage devoted to Clean Technology Initiatives.Driven by the Government,South Korean Conglomerates have been investing into Green Sectors.Samsung the biggest South Korean has already committed huge investments into CleanTech Sectors like Solar,Wind,LEDs.Korean Shipbuilders like Hyundai,Daewoo and Samsung are getting into manufacturing of Wind Turbines while Chemicals Giant Hanwha made a big bang entry into Crystalline Silicon Solar Module Manufacturing through acquisition of Chinese Solar Company.LG Chem has already won big contracts for supply of Lithium Ion Batteries to US Auto Biggies like Ford while Steel Giant Posco is on the verge of a Billion Dollar Polysilicon Acquisition.Now,South Korea’s Largest Auto Manufacturer Hyundai Motors has launched the country’s First Electric Vehicle BlueOn powered by Lithium Ion Batteries from SK Energy.

South Korea Targeting 1 million Electric Vehicles by 2020

The Government is targeting to increase the penetration of EVs in the country to 20% by 2020 with 1 Million EVs.The country has planned to introduce a number of EVs in 2011 with medium EVs by 2014.The country is also thinking of building an infrastructure of exchange Batteries with EVs .Note like other parts of the world,the EV Industry and Infrastructure is in a nascent stage in South Korea.However the government and industry investments make you think that the country is getting ready to for the next generation of Automobiles.The Competition in Electric Vehicles and Batteries is becoming fierce with every major automobile maker making plans for EVs.Major countries like China and USA are promoting their Clean Transportation Industry through heavy subsidies,grants and loans in order to steal the leadership mantle in this fast growing Green Sector.

Hyundai Unveils Electric Car – WSJ

Hyundai Motor Co. on Thursday unveiled the BlueOn, the first-ever pure electric vehicle for the South Korean market, which the government hopes will include one million electric cars by 2020.Hyundai Motor, which has invested 40 billion Korean won ($34 million) in the past year developing an electric car powered by a lithium-ion polymer battery, will expand output capacity next year to produce the BlueOn, the company said in a statement.The South Korean government is encouraging the development of a mass-produced electric vehicles industry in the hope that production of small electric cars can begin in 2011—two years earlier than originally planned—and medium-size electric cars from 2014.

Hyundai Motor said it will produce 2,500 units of the BlueOn, based on Hyundai’s one-liter small hatchback i10, for the domestic market by the end of 2012.SK Energy Co. will be the initial supplier of lithium ion batteries for the BlueOn, the car maker said.

If the study finds high enough demand for battery-exchangeable vehicles, it will assist in the development of the cars from 2012, the ministry said.”To be a success in the market, electric cars should carry a reasonable price tag and most of all there should be recharging infrastructure for electric cars,” the ministry official said.