SEOUL, Jan. 31 (Korea Bizwire) — The government confirmed Monday this year’s subsidy plans to promote the purchase of hydrogen-powered cars.
The Ministry of Environment announced that 16,920 hydrogen fuel cell vehicles will qualify for subsidies this year, including 16,000 passenger cars, 700 buses and 200 trucks and garbage trucks.
Individuals and businesses can receive the sum of state and municipal subsidies within the limit set by each municipal government.
The state subsidy for a hydrogen passenger car is 22.5 million won (US$18,280).
For Busan, the municipal government provides a subsidy of 33.5 million won per hydrogen passenger vehicle for up to 500 units.
The Incheon municipal government provides a subsidy of 32.5 million won per hydrogen passenger vehicle for up to 500 units.
The state subsidy for hydrogen low-floor buses and high-floor buses stood at 21 million won and 26 million won, respectively, while that for cargo and garbage trucks powered by hydrogen stood at 25 million won and 72 million won, respectively.
Municipal subsidies are additionally provided even for commercial vehicles.
The number of newly registered hydrogen vehicles rose to 10,256 units last year from 4,194 units in 2019, according to the ministry. Thus far, close to 30,000 hydrogen vehicles have been sold in South Korea.
M. H. Lee (email@example.com)