Hyundai and the Korea Electric Power Corp. yesterday signed a memorandum of understanding on developing electric vehicles and recharging mechanisms.
As part of the agreement, the two companies will collaborate in developing electric vehicles and the charging mechanisms, as well as developing and standardizing recharging interfaces, while also commercializing the electric vehicles. KEPCO is currently developing recharging mechanisms with the target of completing the process by 2010.
Hyundai-Kia Automotive Group's electric car plans aim to supply electric vehicles in limited volumes in August 2010 and to begin commercial production of such vehicles the following year.
Hyundai will soon reveal more detailed plans regarding its electric car program. Stay tuned!
