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KEPCO, Hyundai sign deal for electric vehicles

Posted on: Tue, 27 Oct 2009 04:57:00 EDT

Symbols: KEP, HYMZY

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SEOUL, Oct 27, 2009 (Asia Pulse Data Source via COMTEX) --
KEP | Quote | Chart | News | PowerRating -- Korea Electric Power Corp. (KEPCO), South Korea's state power firm, said Monday that it has signed a preliminary deal with Hyundai Motor Group to jointly develop electric vehicles and battery chargers.

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.

For full details on Korea Electric Power Corporation ADR (KEP) KEP. Korea Electric Power Corporation ADR (KEP) has Short Term PowerRatings at TradingMarkets. Details on Korea Electric Power Corporation ADR (KEP) Short Term PowerRatings is available at This Link.

For full details on (HYMZY) HYMZY. (HYMZY) has Short Term PowerRatings at TradingMarkets. Details on (HYMZY) Short Term PowerRatings is available at This Link.

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