Incheon City Distributes 5,623 Electric Vehicles... Additional Support for Electric Taxis and Lower-Income Groups

Electric Vehicle Charging
Photo by Incheon City

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 14th that it will provide subsidies to distribute 5,623 eco-friendly electric vehicles to the private sector this year.

They will distribute 4,568 passenger and ultra-small vehicles, 972 cargo vehicles, and 83 buses. In particular, to promote the distribution of electric taxis, an additional subsidy of 4 million KRW (2 million KRW from the national government and 2 million KRW from the city government) will be provided, and for low-income households or below purchasing electric passenger cars, an additional 10% of the national subsidy amount will be supported.

Electric vehicle purchase subsidies will be provided differentially according to vehicle performance and air quality improvement effects.

For electric passenger cars, up to 12.8 million KRW per vehicle, ultra-small electric cars 6.4 million KRW, electric cargo vehicles (ultra-small, light, small) 9 million KRW, 16 million KRW, and 22 million KRW respectively. For electric buses, medium-sized buses will receive up to 60 million KRW, and large buses 167.8 million KRW.

However, for passenger cars, subsidies will not be provided if the vehicle price (recommended retail price) is 90 million KRW or more.

Eligibility requires individuals aged 18 or older with a residence in Incheon at least 30 days before the purchase application date, or companies and public institutions with business locations in Incheon as of the day before the application date.

Buyers must submit a purchase support application form through the Ministry of Environment’s electric vehicle integrated portal (www.ev.or.kr) only for vehicles that can be delivered within two months after signing a purchase contract with the vehicle manufacturer or importer. Incheon City will then grant purchase eligibility.

Applications will be accepted starting from the 22nd, and subsidies will be provided in order of delivery.

Meanwhile, the electric vehicles distributed by Incheon City are vehicles certified by the Ministry of Environment’s distribution evaluation, including 54 types of electric passenger cars, 13 types of electric cargo vehicles, and 56 types of electric buses. Vehicles selected as subsidy recipients by the Ministry of Environment in the future will also be supported without additional announcements.

An official from Incheon City stated, "Electric vehicles are eco-friendly cars that produce no emissions and have low maintenance costs. Especially this year, with a significant expansion in vehicle types, we expect an increase in purchase demand and activation of the electric vehicle distribution project."

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