EV Sales Surpass 100,000 Mark, Three Months Ahead of Last Year's Pace

Electric vehicle sales have surpassed 100,000 units this year, marking the fastest pace on record. This figure is three months ahead of the same period last year. Key factors contributing to the expanded adoption include new vehicle launches and price competition among manufacturers, early implementation of government subsidy programs, and incentives for transitioning from internal combustion engine vehicles. From January to April this year, electric vehicles accounted for 20.1% of new car sales in Korea.

Considering the rapid depletion of local government subsidies, the government is encouraging the re-announcement of a second round of subsidies and has decided to provide additional subsidies through a supplementary budget for 20,000 passenger cars and 9,000 cargo vehicles.

Minister Kim Sung-hwan of the Ministry of Climate, Energy, and Environment declared this year a "historic year opening the era of 1 million electric vehicles" and expressed his commitment to pursuing effective measures to resolve public inconvenience.