Incheon City Supports Purchase of 2,895 Electric Vehicles and Two-Wheelers in Second Half of the Year

Electric Vehicle Charging Facilities
Photo provided by Incheon City

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 8th that it plans to provide purchase subsidies for a total of 2,895 vehicles in the second half of the year, including 2,613 electric cars and 282 electric two-wheelers.

Including the 9,981 units allocated in the first half, the total number of electric cars and two-wheelers to be distributed by the city this year is 12,876, with a subsidy budget of 147.2 billion KRW.

The purchase support targets are 254 models from 86 manufacturers and importers registered as eco-friendly electric cars and two-wheelers.

From July, subsidies for general users and corporations/institutions will be integrated and executed, and in October, priority allocation quantities will also be integrated and executed. Additionally, for electric two-wheelers, the restriction on the number of vehicle applications (maximum 20 units) within corporate/institutional and delivery-use allocations will be removed to expand distribution.

Individuals and organizations wishing to purchase electric cars or two-wheelers must first prepare a purchase contract with the manufacturer or importer, then submit a subsidy application form on the Zero Emission Vehicle integrated website.

Meanwhile, starting from subsidy applications received on June 30, purchasers who receive subsidies will be subject to revised subsidy recovery rates depending on non-compliance with the mandatory operation period (5 years for deregistration for export purposes, 2 years for others).

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