Renault Samsung to Develop Electric Car in Korea

South Korean unit of Renault S.A. signs memorandum of understanding with government environment ministry and six other companies to promote electric car use.

Published: 31-Mar-2013

SEOUL, March 29 (Yonhap) -- Renault Samsung Motors Co., the South Korean unit of French automaker Renault S.A., said Friday that it has signed a memorandum of understanding with the country's environment ministry and six other companies to promote the use of electric cars.

Under the deal, Renault Samsung will develop an electric car and sell it below 45 million won. The environment ministry, in return, will provide subsidies to companies and public offices that buy electric cars.

Renault Samsung and the government will work together to set up infrastructure such as charging stations that make it more convenient to use electric cars, according to the company.

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