Big Company Chairmen Say, "There Are Still No Electric Cars Worth Driving"

Lee Jae-yong, Choi Tae-won Chairmen, etc.
Using Premium Genesis G90
Due to Lack of Ultra-Luxury Electric Cars

[Asia Economy Reporter Choi Seoyoon] Following Samsung Electronics Chairman Lee Jae-yong's recent meeting with the BMW chairman and his decision to switch company executives' work vehicles to electric cars, there is renewed interest in what cars conglomerate heads are driving.

On the 21st, compiling reports from major groups, the top four business owners including Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo all use Hyundai Motor's premium model, the Genesis G90, as their official cars. The G90, known as the "Chairman's car," is available in two models: sedan and long-wheelbase. The long-wheelbase version driven by Chairman Chung Eui-sun starts at around 160 million KRW.

Shin Dong-bin, chairman of the fifth-largest conglomerate Lotte Group, has used Mercedes-Benz vehicles as his official domestic cars for decades. Known as a Mercedes enthusiast, Chairman Shin has favored the brand's top models since starting with the Mercedes-Benz S-Class 'S500' in 2007.

Currently, no conglomerate heads are driving electric vehicles, which are said to be the trend these days. The mainstream models in the still-emerging electric vehicle market are not yet the high-end types suitable for conglomerate heads. Professor Park Cheol-wan of Seojeong University stated, "Electric vehicles, which do not require an engine like internal combustion cars, still feel vibrations because they remain in a running state even when stopped. Considering ride comfort and convenience features, ultra-luxury electric vehicles suitable for group chairmen have not yet been released."

Choi Tae-won, Chairman of SK Group, is getting out of a vehicle to attend the preview event of Frieze Seoul held at the Leeum Museum of Art in Yongsan-gu, Seoul, on the afternoon of September 1.
[Image source=Yonhap News]

Unlike owners who insist on internal combustion engine cars, corporate executives have started using electric vehicles as their official cars. Following Samsung's purchase of BMW's new electric sedan 'New i7' for subsidiary representatives' work vehicles, Lotte Group has also decided to use electric cars. Starting next year, Lotte Group's assistant general managers and general managers can choose official cars from internal combustion vehicles like the K8 and Grandeur, as well as electric vehicles such as Hyundai Motor's Ioniq 6, Tesla Model 3, and Kia EV6. Hyundai Motor executives have also used competitor Tesla's electric vehicles for a week through a test drive program for management.

An industry insider said, "From 2025 onwards, Hyundai Motor plans to release only electric vehicles under the Genesis brand, so from then on, conglomerate heads are expected to naturally switch their official cars to electric vehicles."

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