March 17, 2017 13:01
Hyundai and Kia unveiled new electric cars at an expo on Jeju Island on Thursday.
Hyundai launched a newly modified electric version of the Ioniq, which is W1.6 million cheaper than the previous model at W40 million (US$1=W1,132).
But with incentives consumers can buy the car for under W20 million as the government offers a subsidy of W14 million and local governments up to W12 million.
Kia, meanwhile, is taking pre-orders for the Soul EV. It can produce up to 111 horsepower with maximum torque of 29 kg.m. Equipped with a higher voltage battery than its predecessor, its driving range has increased by 20 percent.
The car is priced at W42.8 million but will cost motorists only W16.8-28.8 million with subsidies.
GM Korea will unveil the Volt EV, a fully electric version that can travel about 383 km on a single charge, at the expo, which wraps up next week.
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