Renault Samsung to Provide Additional 6 Million KRW Subsidy for SM3 Z.E. Electric Vehicle

[Asia Economy Reporter Suyeon Woo] Renault Samsung Motors announced on the 5th that it will provide an additional special purchase subsidy of 6 million KRW to customers who purchase the electric vehicle SM3 Z.E.

The SM3 Z.E. special purchase subsidy is a subsidy independently prepared by Renault Samsung to ease the purchasing burden on consumers due to the reduction of the Ministry of Environment's 2020 electric vehicle purchase subsidy per vehicle. Renault Samsung plans to continue offering more attractive purchase benefits to accelerate the spread of electric vehicles domestically.

The total purchase benefit of the SM3 Z.E., combining Renault Samsung's special purchase subsidy of 6 million KRW and the government subsidy of 6.16 million KRW, increases to 12.16 million KRW. Additionally, when adding the electric vehicle subsidies from each local government, the actual purchase cost is expected to be even lower.

For example, in Jeju-do, which has set the local government electric vehicle subsidy at 5 million KRW this year, the actual purchase cost of the SM3 Z.E. is reduced to ▲ 19.84 million KRW for the SE trim ▲ 21.84 million KRW for the RE trim when combining the government subsidy and Renault Samsung's special purchase subsidy.

The SM3 Z.E. is the only 5-seater compact sedan-type electric vehicle in Korea, featuring spacious interior and sophisticated design. The driving range on a full battery charge is 213 km, which, based on the Korea Transportation Safety Authority's announced average daily driving distance of 40 km for passenger cars in Korea, allows driving for about 5 days on a single charge. Furthermore, the battery capacity warranty condition covers 70% capacity within 8 years or 160,000 km.

Kim Tae-jun, Head of Sales at Renault Samsung, said, "The SM3 Z.E. is the only compact sedan-type electric vehicle in Korea applying Renault Group's technology and has led the expansion of eco-friendly vehicles domestically. We hope that through this additional special purchase subsidy support, more customers will experience the compact electric vehicle SM3 Z.E."

Meanwhile, the Ministry of Environment will provide an additional 2 million KRW within a maximum of 8.2 million KRW for electric taxis in 2020 to promote electric vehicle adoption and charging infrastructure development. Accordingly, when purchasing an SM3 Z.E. taxi, customers can receive an additional 2 million KRW electric taxi support from the Ministry of Environment on top of existing benefits, totaling 19.16 million KRW in benefits. In this case, the purchase price can be ▲ 17.84 million KRW for the SE trim ▲ 19.84 million KRW for the RE trim (based on Jeju-do).

This content was produced with the assistance of AI translation services.