The South Korean government on Dec. 1 will begin providing tax breaks of up to $3,600 for buyers of electric vehicles. The Ministry of Knowledge Economy says all EV buyers will receive a 5% reduction in the consumption tax, a 12% cut in the education tax and other discounts up to 20%. Every Korean auto maker is developing EVs, and the government has set a production target of 1 million units by 2020, with 70% of them earmarked for export. The vehicles are expected to generate 40 ...
Premium Content (PAID Subscription Required)
"Korea Announces $3,600 Tax Incentives to Spur EV Sales" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642