Busan City Expands Hydrogen Electric Vehicle Distribution with Support for 400 Units in the First Half of the Year

Application for Hydrogen Electric Vehicle Purchase Subsidy Program Now Open

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] Busan City will support the supply of 400 hydrogen electric vehicles in the first half of this year.

Busan City announced on the 10th that it will start accepting applications for the first phase of the 2020 hydrogen electric vehicle purchase subsidy support project from the 17th.

The support scale is 400 vehicles, and the purchase subsidy is 34.5 million KRW per vehicle. Benefits include exemptions of up to 4 million KRW for individual consumption tax, up to 1.2 million KRW for education tax, and up to 1.4 million KRW for acquisition tax, as well as a 50% discount on public parking fees, a 50% reduction in highway tolls, and toll exemption on Gwangandaero.

Eligible applicants are citizens aged 18 or older who have had an address in Busan for at least 180 days prior to submitting the hydrogen electric vehicle purchase application, as well as corporations, companies, public institutions, and local public enterprises with business locations in Busan. The number of vehicles that can be purchased is limited to one per individual and two per institution (corporation, company, organization).

Applicants wishing to apply should visit designated manufacturers or dealers to fill out the purchase support application form. Once the city's support is approved, the subsidy will be provided after the vehicle is delivered.

Hyundai hydrogen car NEXO. (Photo by Busan City Hall)

Busan City supplied 550 hydrogen electric vehicles last year. This year, it plans to supply a total of 830 vehicles, including 430 in the second half of the year.

Jung Dongwon, Head of the Manufacturing Innovation Infrastructure Division of Busan City, said, “We plan to steadily expand the supply of hydrogen electric vehicles to create an ecosystem for Busan as a hydrogen-based maritime city and to solve urban air quality issues such as fine dust.”

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