Super Power-Saving Electro Car Born in Korea

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A mid-sized Korean company has developed an electrical car that can travel 299 km per W1,000 (about US$1) recharge. GEO EV said Wednesday it plans to mass-produce the GEO EV1, a four-passenger small electric car, from next year.

The vehicle is powered by a lithium polymer battery and electric motor jointly developed by local battery specialists Kokam and VK, and its frame is produced by the French small car maker MC.

"Tests of the GEO EV1 show that the car can run 250 km on a single three-hour recharge,†GEO EV chief Chun Hyeong-min said. “It hit top speeds of 120 kmph, with top horsepower at 35." Chun said the car would cost W51,800 to power for the average annual driving distance (2002 standard) of 15,500 km, considerably less than the annual average fuel costs of W1.3 million for gas-powered cars. GEO EV plans to test-produce the car as soon as it has received certification and hopes to sell about 1,000 vehicles both in Korea and abroad, with sales expanding from 2007. The GEO EV1 will cost about W25 million.

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