Incheon City to Distribute 498 Hydrogen Cars This Year... 32.5 Million KRW Support per Vehicle

Expansion of 13 Hydrogen Vehicle Charging Stations by 2025

Incheon Airport Terminal 1 Charging Station
Photo provided by Incheon City

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 28th that it plans to distribute 498 hydrogen fuel cell vehicles this year with a budget of 37.4 billion KRW.

Buyers will receive a total subsidy of 32.5 million KRW per hydrogen vehicle, including 22.5 million KRW from the national government and 10 million KRW from the city government. Considering that one hydrogen vehicle costs about 70 million KRW, the buyer's out-of-pocket expense is approximately 37.5 million KRW.

Applicants for the subsidy must have resided in Incheon for more than 30 days as of the date of purchase application submission. Individuals, corporations, organizations, and public institutions registered as businesses in Incheon as of the day before the application submission are also eligible to apply.

Subsidies will be provided in the order of vehicle delivery and registration when buyers submit a support application after signing a purchase contract with the vehicle manufacturer or dealer for vehicles that can be delivered within two months.

The city stated that operating hydrogen fuel cell vehicles reduces fuel costs by about 20% compared to gasoline vehicles (based on Nexo, 17-inch). Additionally, benefits include up to 4 million KRW exemption from individual consumption tax, 50% discount on public parking fees, and 50% discount on highway tolls.

Furthermore, Incheon City plans to expand a total of 13 hydrogen charging stations by 2025.

In Incheon, the first hydrogen charging station opened in Namdong-gu in 2019, and the charging station at Incheon Airport Terminal 1 began operations on the 4th of this month. With three more stations scheduled to be completed within the year, the total will increase to five.

An official from Incheon City stated, "To expand the distribution of hydrogen vehicles, which have a significant effect on reducing fine dust, it is essential to build charging infrastructure. Therefore, we will focus on expanding charging stations alongside the distribution of hydrogen vehicles."

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