Korea’s Ministry of Knowledge Economy selects a consortium led by Hyundai to develop a midsize electric vehicle by 2014. The ministry says in a statement this week it plans to invest 70 billion won ($65 million) in the project, which will result in a commercially available midsize EV that will launch in the Korean market three years ahead of a previous target of 2017, which was announced last year. The ministry discloses that it signed a memorandum of understanding for the project with ...
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