The annual production capacity for its SM3 ZE electric car will reach up to 4,000 units starting next year.
“Electric cars will be the engines of growth leading the green growth of Korea,” said Francois Provost, chief executive of the company, adding Renault Samsung Motors had every intention of fully supporting the initiative.
The SM3 EV can travel 135 kilometers (84 miles) on a single charge at a maximum speed of 135km/h (84 mph), according to the carmaker.
Though the price for an SM3 EV is set at 45 million won (about $42,000 USD or 30,900 Euros), with government subsidies for electric car buyers, the price tag comes down to 22 million won (about $20,500 USD or 15,100 Euros).
Renault Samsung has already delivered 107 SM3 ZE electric cars to Jeju Island, and has separately secured contracts for 500 units.
Kia Motors Corp., South Korea’s second-largest carmaker, has also rolled out its Ray electric car and said it plans to introduce an electric version of its Soul urban crossover car in the first half of next year.
South Korea has installed 1,165 charging stations for electric vehicles across the country including 110 quick charge stations.[source: Korea Herald]