Applications Flood In for Suwon's Second Phase Electric Vehicle Supply Program...Freight Vehicle Quota Filled in Just 3 Days

Signals are emerging that the electric vehicle market may be overcoming the so-called "ca-zoom" (the stagnation phase just before mass adoption).

In Suwon, Gyeonggi Province, applications from citizens are flooding in for the city's "Second Phase Electric Vehicle Supply Program," which was launched earlier than planned due to the impact of rising international oil prices originating from the Middle East.

Suwon City is advancing a portion of its second-half supply volume to minimize supply gaps caused by the early depletion of subsidies in the first half of the year and to ease the burden on citizens resulting from rising international oil prices.

Of the supply volume for the Second Phase Electric Vehicle Supply Program, which began accepting applications on May 11, the freight vehicle segment (178 units) was fully booked within just three days. In the passenger vehicle segment, about 70% of the 1,400 allocated units have already been claimed, and the program is expected to close early.

Suwon City Hall

Subsidy recipients will be selected in order of vehicle delivery and registration, and applications will be accepted until the budget is exhausted.

Eligible applicants are individuals, sole proprietors, or corporations who have maintained their address in Suwon for at least 60 days as of the application date (May 11). After signing a purchase contract with a vehicle manufacturer or importer, applications can be submitted through the Zero Emission Vehicle Integrated Website (www.ev.or.kr).

An official from Suwon City stated, "As high oil prices continue, interest in electric vehicles has increased significantly. Since there are still some passenger vehicle units available, we encourage citizens planning to make a purchase to apply as soon as possible."

Taking into account the high demand for this second phase program, Suwon City plans to announce an additional supply program of similar scale in August.

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