NEW DELHI: South Korean Ambassador to India Chang Jae-bok on Wednesday said it is crucial for both nations to discuss the prospects and potential of bilateral cooperation in the electric vehicle industry as it is undergoing a historical transition.
Pointing out that internal combustion engine regulations are becoming stricter, reflecting the willingness to phase out such engines in the future, the Ambassador highlighted that the auto parts industry will soon face massive restructuring if this trend continues.
"Therefore, it is very important for both our countries to discuss the prospects and the potential of bilateral cooperation in the EV industry at this crucial time of historical transition," Jae-bok said, adding that this is the only way we can capitalise on the emerging opportunities in the sector.
Speaking at the Korea-India EV Cooperation Forum organised by KOTRA, the Ambassador said: "In my opinion, a powerful synergy can be generated when Korea's technology and manufacturing capability is combined with India's aspiration to move towards clean mobility powered by electric vehicles".
Korea Trade-Investment Promotion Agency (KOTRA) is the state-run trade promotion arm of the Korean government.