'Micro Electric Cars' Appear in Ulsan

Ulsan City Begins Cluster Development · Investment Support Agreement for Industrial Promotion
Utilization for Public Service Vehicles, Meter Reading Vehicles, and Small Business Delivery Vehicles

Ulsan City Hall. Ulsan City is implementing policies to foster the micro electric vehicle industry.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Investment and support projects to foster the micro electric vehicle industry are being aggressively carried out in Ulsan.

On the 23rd at 2:30 PM, Ulsan City will sign a 'Corporate Investment Support Business Agreement (MOU) for Fostering the Micro Electric Vehicle Industry' with eight automobile and parts companies at the 7th floor situation room of City Hall.

This business agreement involves creating a micro electric vehicle cluster to expand the eco-friendly automobile market and respond to future transportation environments. The plan aims to create new jobs through corporate attraction and revitalize the local economy.

The agreement includes eight companies: Woosoo TMM (TMM), Woosoo AMS (AMS), P&E Systems, HMG, Haengseongsa, KEC, Basan, and Seongsan VCC.

According to the agreement, Ulsan City and the partner companies will invest and support the fostering of the micro electric vehicle industry and strive to revitalize the local economy through new job creation.

The partner companies plan to establish micro electric vehicle-related factories in the Ulsan area and actively cooperate in revitalizing the local economy by prioritizing hiring local residents.

Ulsan City will also endeavor to create a micro electric vehicle industry cluster so that the partner companies can grow into global leading companies.

Micro electric vehicles are expected to be optimized means of transportation for short-distance travel, replacing existing two-wheelers or small trucks for commuting, delivery services, quick services, franchise deliveries, postal logistics, and more.

Recently, due to the COVID-19 shock, personal vehicle ownership desires have increased, and micro electric vehicles, which combine high fuel efficiency and convenience for urban travel and parking, are emerging as substitutes for public transportation.

Since 2016, Ulsan City has been leading core component localization technology development projects centered on local SMEs such as Ulsan Technopark and Woosoo TMM (TMM) to foster the micro electric vehicle industry.

Through this, they have developed micro electric vehicle designs suited to future trends and plan to mass-produce Ulsan-type micro electric vehicles starting in 2022 after obtaining certification from the Ministry of Land, Infrastructure and Transport in the first half of next year by utilizing localization technologies for vehicle design and component performance enhancement.

This year, Ulsan City selected micro electric vehicle-related technologies as a major support area in the new 'Regional Vitality Project' with an investment of 8.6 billion KRW by 2022. Accordingly, they plan to support parts commercialization, prototype production, testing and evaluation, marketing, and expert training.

The city decided to prioritize purchasing micro electric vehicles as public service vehicles to expand their distribution. Various distribution policies will be promoted to enable their use as city gas meter reading vehicles and delivery vehicles for small business owners, while also supporting overseas market entry, mainly in Southeast Asian countries.

Song Cheol-ho, Mayor of Ulsan, stated, "Micro electric vehicles are expected to grow as a new industry because they can be used for various services as future transportation means. Based on the nation's best automobile industry infrastructure, we will create a micro electric vehicle cluster and lead the global market."

This content was produced with the assistance of AI translation services.