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S. Korea’s Exports of Eco-friendly Cars Up 23 Pct in H1

S. Korea’s Exports of Eco-friendly Cars Up 23 Pct in H1

SEOUL, Sept. 2 (Korea Bizwire) – South Korea’s exports of eco-friendly automobiles rose nearly 23 percent in the first half of 2020 from a year earlier, data showed Wednesday. Outbound shipments of eco-friendly cars, including electric vehicles, reached US$3.16 billion in the January-June period, taking up 20 percent of the country’s total automobile exports, according [...]

S. Korea to Overhaul Subsidy Scheme for EV Cars

S. Korea to Overhaul Subsidy Scheme for EV Cars

SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s environment ministry said Sunday that it will revamp a subsidy scheme for electric vehicles (EVs), with the current proposal centering on excluding high-priced EVs from the subsidy recipients. The country’s fat subsidies for EVs have been a major contributor to the popularity of eco-friendly cars. The overhaul [...]

Tesla Sweeps over Government Subsidies amid Suspected Tax Evasion

Tesla Sweeps over Government Subsidies amid Suspected Tax Evasion

SEOUL, July 14 (Korea Bizwire) — Is it an attempt to evade car acquisition taxes, or to offer more choices to customers? U.S. electric carmaker Tesla Motors Inc. allows customers to purchase Full Self-Driving (FSD) systems priced at 9 million won (US$7,500) even after the customers buy a non-FSD model. Purchasing a separate option after [...]