Renault will build electric vehicles in Korea once the government has finalised its plans for EVs, the chief executive of the French automaker's Samsung unit told reporters at the unveiling of the new SM5 mid-sized saloon.

"We plan to produce Renault Group's electric vehicles in Korea and, once the government's plans are finalised, we will take our position as to when electric vehicles will be mass produced in Korea," said Jean Marie Hurtiger.

"We expect Korea to be a major supplier of batteries. One side there is strong industry, and the other is strong support from the government; it makes Korea a perfect country for electric cars."

Renault Samsung will be involved in Renault's global EV projects and is participating already in various projects with local firms including the vehicle battery maker SB Limotive and SK.

The new SM5, production of which started in Busan in October, is the third generation of the best-selling mid-sized saloon that was first released in 1998. It uses a Nissan powertrain but was designed by Renault Samsung.