The government has decided to impose a fine (contribution) from 2023 if the automaker does not sell more than the target value for non-polluting vehicles such as electric vehicles and hydrogen vehicles. The government also decided to increase the supply of eco-friendly vehicles to 7.85 million units by 2030 through support and regulations, and to reduce automobile greenhouse gas emissions by 24%.
On the 18th, the government held a meeting to examine and coordinate state affairs at Hyundai Motor’s Namyang Research Center in Hwaseong-si, Gyeonggi-do, presided over by Prime Minister Chung Sye-gyun, and discussed the ‘4th Basic Plan for Eco-friendly Vehicles’ that contained the above.
The government raised the target for supply of low-emission vehicles such as hybrid cars, electric cars, hydrogen cars, etc. this year from 15% to 18%. It means that each company should fill 18% of the average sales volume over the past three years (2017-2019) with low-emission cars. Among them, the target for supply of pollution-free vehicles such as electric vehicles and hydrogen vehicles was set at 10% in 2021 and 12% in 2022. However, for automakers (Ssangyong Motor, BMW, Mercedes, etc.) with less than 100,000 vehicle sales, the targets were set at 4% in 2021 and 8% in 2022.
To achieve this, automakers must sell 45,000 electric and hydrogen vehicles this year. The government plans to impose a contribution (in fact, a fine) of 1% to 3 million won per vehicle for low-emission vehicles and 1% to 3 million won per vehicle for low-emission vehicles if the target is not met from 2023. The government plans to make contributions to non-profit companies to companies that do not meet the target, and nonprofit companies to use these contributions for projects to promote low-emission vehicles.
As a mid- to long-term plan, the government decided to supply 7.85 million eco-friendly cars by 2030 to reduce automobile greenhouse gas emissions by 24%. To this end, public institutions have to purchase 100% eco-friendly cars when buying cars. In private companies, they use a’carrot and whip’ strategy. Instead of imposing a target system for purchasing eco-friendly cars on private companies, it decided to support purchase subsidies and installation of charger boards when switching to pollution-free cars.
The charging infrastructure is also greatly expanded. In 2025, more than 500,000 electric vehicle chargers will be expanded, and ultra-fast chargers capable of driving 300km with a 20-minute charge will also be in full swing. Hydrogen car charging stations will be built in 450 units by 2025 so that they can be reached anywhere in the country within 30 minutes.
It also lowers vehicle prices. It plans to lower the car price by more than 10 million won by 2025 through the establishment of an eco-friendly vehicle platform and localization of parts and materials. It is also considering extending eco-friendly vehicle tax benefits such as individual consumption tax, which expires at the end of this year. In addition, the initial vehicle purchase price will be reduced by half through a battery rental business that is being piloted for taxi and truck electric vehicles this year. The project will expand to hydrogen buses next year.
Reporter Jihoon Lee [email protected]
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