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Under the deal, KEPCO plans to complete the development of battery chargers for electric vehicles by 2010, while Hyundai Motor Group plans to start selling electric vehicles in 2011, the South Korean power company said in a statement.
Hyundai Motor Co., a larger unit of Hyundai Motor Group, launched the country's first hybrid electric vehicle (HEV) in July, while Kia Motors Corp., a smaller unit of the group, began producing HEVs in September.
Electric vehicles are propelled by only electricity, while HEVs are powered by both batteries and fuel.
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