June 18, 2023
1 min read

Rolls-Royce unveils its electric car

The ordered Spectres will start being delivered to Korean customers in the fourth quarter, the company said, reports Yonhap news agency…reports Asian Lite News

Rolls-Royce Motor Cars on Friday unveiled the brand’s first all-electric model, named Spectre, in South Korea as it sees further room to grow in Asia’s fourth-biggest economy.

South Korea is the first country for the British carmaker to introduce the battery-powered model among Asia-Pacific countries, Rolls-Royce said in a statement.

The fully electric Spectre is available at a starting price of 620 million won ($486,000) in Korea, with the price going up depending on options.

Rolls-Royce has received the highest number of preorders in the fast-growing and important Korean market in the region, the company said without giving the pre-order figure.

The ordered Spectres will start being delivered to Korean customers in the fourth quarter, the company said, reports Yonhap news agency.

Rolls-Royce’s sales growth in Korea depends on several factors, such as the country’s economic situation and the number of businessmen, which is growing rapidly, Irene Nikkein, regional director of Rolls-Royce’s Asia-Pacific operations, told reporters on the sidelines of the unveiling event.

“I’ve seen the development in Korea and also the investment from the Korean government. There is a very big growth potential (here) in the long term,” she said.

Rolls-Royce began to sell its vehicles in Korea in 2004. Its current lineup includes the Phantom, Ghost and Cullinan.

The Rolls-Royce brand belongs to BMW Group, which also sells BMW, Mini and Rolls-Royce models in Korea.

It sold five vehicles in the country in 2004, but sales have continued to rise, reaching 171 units in 2020, 225 in 2021 and 234 in 2022.

The BMW-owned brand plans to fill its entire lineup with all-electric cars by 2030, joining other luxury brands in making the switch, including Volkswagen Group’s Bentley and Jaguar Land Rover’s Land Rover.

ALSO READ-India to become $7bn market for mobile games by 2025

Previous Story

NorthEast United FC confirm departure of eight players

Next Story

UK nod for Amazon’s proposed $1.7 bn acquisition of iRobot

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

Rolls-Royce Announces Layoffs

The company employs 42,000 people worldwide with about half of

Rolls-Royce announces first fully electric car

Electric Rolls-Royce fulfils the 1900 prophecy of the marque’s founder,