Leo Motors showcases its line of electric vehicles in San Diego County this coming July 7, highlighting its product lineup. Among those vehicles expected to be shown are the Leo-1000 and Hilless scooters. These products range in price from $2,900 to $4,000 and are eligible for the tax credits and deductions allowable for electric vehicles.

The event is expected to boost the sales and awareness for the company, something that has been proven from past years. To highlight Leo Motors, they have a standing purchase order of 3,000 Hilles scooters from South Korea which will be used as deliver service scooters. They are expected to launch their vehicles in the U.S. later this year.

“We are proud to introduce our zero emission electric scooters to the U.S. market at this historic venue,” said Dr. Robert Kang, President and CEO of Leo Motors, Inc. “Our scooters are the world’s first truly sustainable EV products offered in the scooter market. These are not electric toys; they are highly evolved EVs made possible as a result of Leo’s proprietary motor and battery technologies.”

(Source) Press

Tags: battery technologies, electric scooters, electric toys, electric vehicles, ev products, leo, san diego county, scooter market, showcases, south korea, tax credits, zero emission

Continue reading...

What does a car spoiler do to a car? Well for one, it improves and adds another dimension as far as car art is concerned. But for new cars, it tends to provide an additional feeling of being unique, something that the latest Hyundai Genesis Coupe has released.

Hyundai released Genesis Coupe RW(Racing Wing Pack) model upgraded practical things in Korea market, which is equipped a rear spoiler to show the high-performance image.

With a focus on customer preference and convenience, new specifications were applied. Qualified, high-performance image of the RW model to maximize the Genesis Coupe merchantability added to improve the model.

DMB intelligent navigation is optional. In this option, the clock, air conditioning, audio information display changed to the information display of driving status such as torque and multi-gauge. In addition, high-pass system (ETCS, Electronic Toll Collecting System) is applied on all models to improve convenience of the highway driving. It’s only useful in South Korea highway system.

When you select automatic transmission, paddle shift attached to the steering wheel is enabled to that customers can enjoy even more dynamic driving and at the same time, their sense of economic driving was also considered.

Suggested price is between 22,970,000(KRW) and 34,280,000(KRW).

(Source) Aving

Tags: automatic transmission, car art, car spoiler, collecting system, customer preference, electronic toll, gauge, Genesis, high performance, Hyundai, information display, intelligent navigation, new cars, performance image, rear spoiler, south korea, steering wheel, torque

Continue reading...

The Navistar Engine Group has entered a supply agreement to develop and produce diesel engines for two new Daewoo Bus brand commercial buses for Korea and other global markets. Under the agreement, Navistar’s Brazilian affiliate MWM International Indústria de Motores da América do Sul Ltda. will supply the MaxxForce brand engines to Clark ENG Ltd., which develops bus products for Korea-based Daewoo Bus Corporation. With production in mid 2011, annual volumes are projected to reach nearly 25,000 by 2014.

The new MaxxForce Sprint model in-line four-cylinder engines will power 6.0-ton GVW and 5.5-ton GVW Daewoo Bus brand light buses. The 3.2-liter turbodiesels feature four valves per cylinder and comply with Euro III, IV and V emissions standards.

Clark ENG Ltd. is an independent developer of bus products for Daewoo Bus Corporation and forklift products for Clark Material Handling International, Inc. All three companies are owned by Young An Company, a Bucheon, South Korea-based diversified holding company.

(Source) Press

Tags: bucheon, bus products, commercial buses, company source, daewoo, de motores, diesel engines, emissions standards, eng ltd, global markets, gvw, holding company, liter, navistar engine, south korea, sprint

Continue reading...

In a move to help fight recession and entice new car buying, the South Korean government has announced a tax break for all motorists who replace their aging cars. The strategy and finance ministry said the measure, worth up to 2.5 million won (US$1,900), would be available to drivers who trade in a car that is more than nine years old. The incentive, which will run from May to December, was announced as local auto makers feel the bite of the global economic downturn.

South Korean car manufacturers, including Hyundai Motor, have reduced their output due to slumping sales while Ssangyong Motor, the smallest automaker in the country, is under court receivership to avoid bankruptcy.

The tax break will come from reducing purchasing and registration taxes by 70 percent, officials said. They estimated it could potentially affect 548,000 vehicles – 32.6 percent of the total 16.8 million registered in the country.

The government is also considering providing more liquidity to auto finance companies as part of efforts to stimulate demand.

(Source) eTaiwan News

Tags: auto finance companies, car manufacturers, court receivership, economic downturn, hyundai motor, liquidity, old cars, south korea, south korean government, ssangyong motor, tax break

Continue reading...

The trend continues and this time, it is Ssangyong Motor Co. of China that has suffered such a tremendous loss. After securing bankruptcy protection in January, sales nosedived by 69 percent, an alarming figure that is a result of weaker consumption and tighter credit lines governing China today.

Ssangyong, 51 per cent owned by China’s Shanghai Automotive Industry Corp., sold 2,369 vehicles in February, with domestic sales slipping 51.5 percent and exports plunging 82.7 percent.

The disappointing result underlined difficulties facing Ssangyong’s survival, as consumers have shunned buying cars built by the potentially bankrupt company, analysts say.

With the bankruptcy protection, the Chinese parent retained its stake in Ssangyong, but relinquished its management control, ending a five-year of marriage with the smallest carmaker in South Korea.

(Source) Trading Markets

Tags: automotive industry, bankrupt company, bankruptcy protection, buying cars, carmaker, china, consumers, management control, south korea, ssangyong motor co

Continue reading...

In case you missed this model at the Detroit Auto Show, GM Daewoo has announced that it will be unveiling the Chevrolet Spark mini-car by 2011 to the U.S. market. This development is actually a form of help from the South Korean arm of General Motors in trying to help push the growing demand for smaller but fuel-efficient models.

The three-door hatchback was manufactured by GM Daewoo Auto & Technology Co. and will hit showrooms in South Korea in the second-half of this year ahead of the U.S. launch, GM Daewoo said in a statement.

Add to the fact that General Motors has to keep the ball rolling, the addition of these mini-cars is sure to expand their options and means of generating income to boost sales in the car buying sector, something that has been affected by the turn of events of economic issues today.

(Source) Trading Markets

Tags: Chevrolet, chevrolet spark, detroit auto show, General Motors, gm daewoo, mini car, mini cars, south korea

Continue reading...