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Samyang Optics to sell U.S.-made electric cars in S. Korea
SEOUL, Jan. 27 (Yonhap) -- Samyang Optics Co., a South Korean maker of lenses, said Wednesday it will sell electric cars produced by the U.S.-based company ZAP in South Korea from April.
The move coincides with the Korean government's plan to allow electric vehicles with top speeds of 60 kilometers per hour on the country's roads by the end of March.
At a press conference in Seoul, Samyang CEO Christopher Kang signed a US$2 million contract with ZAP CEO Steven Schneider to exclusively sell the California-based company's electric cars in the Korean market.
"Electric vehicles will become a new growth engine for Samyang Optics," Kang told reporters at the press conference.
The partnership with ZAP will also give Samyang deeper inroads into the electric-vehicle market. Kang said his company plans to eventually assemble electric cars using ZAP's technology.
"For the partnership, we are dedicated to giving full support to ensure this project is successful," Schneider told reporters.
The exact price for ZAP electric cars in the Korean market has yet to be fixed, according to Samyang officials.
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