Seoul City to Support Subsidies for 4,686 Electric Vehicles in the Second Half... Applications Accepted from the 16th

[Financial News] Seoul City will accept applications for electric vehicle subsidies in the second half of the year. A total of 4,686 units will be supported. 
Seoul City announced on the 14th that it will accept applications from the 16th to support subsidies for a total of 4,686 electric vehicles, including passenger cars, trucks, and children's school buses, in the second half of the year.
Seoul City's electric vehicle distribution volume for the private sector this year includes 9,174 passenger cars, 1,000 trucks, 1,200 taxis, 311 city and village buses, 22 children's school buses, 3 circulatory and commuter buses, and 4,000 two-wheelers. A total of 15,890 units will be supported by the end of the year.
The additional distribution volume for the private sector in the second half totals 4,686 units, including 4,174 passenger cars, 500 trucks, and 12 children's school buses.
Electric passenger cars will receive differential support of up to 6.3 million won (5.8 million won from the national government, 500,000 won from the city) depending on the vehicle type. Households with two or more children under 18, buyers below the next lower class, young people purchasing their first car as an electric passenger car (aged 19-34), and those agreeing to the battery anomaly notification function can receive additional subsidies.
Electric trucks will see an additional 500 units distributed in the second half, following the first half. Support of up to 13.5 million won (10.5 million won from the national government, 3 million won from the city) is available depending on the vehicle type.
Children's school buses will see an additional 12 units distributed, following 10 units in the first half. Applications can be made if both the representative and business address are in Seoul City, with support of up to 150 million won (115 million won from the national government, 35 million won from the city).
Guidance on the distribution volume and subsidy support details by vehicle type and sector, as well as application submissions, can be made from the 16th on the Ministry of Environment's zero-emission vehicle integrated website.
Applicants must have resided in or have an office in Seoul City for more than 30 days as of the application date. Only vehicles that can be delivered within two months can be applied for. Buyers must enter into a purchase contract with the vehicle manufacturer or importer, and the manufacturer or importer will apply for the subsidy to Seoul City.
The subsidy recipients will be selected based on the order of vehicle delivery and registration. The subsidy will be paid directly by Seoul City to the vehicle manufacturer or importer, and the buyer will only pay the remaining amount excluding the subsidy to the manufacturer or importer.
Park Tae-won, head of Seoul City's eco-friendly vehicle department, stated, "Seoul City has continuously worked to expand the distribution of electric vehicles to respond to the climate crisis and improve urban air quality," adding, "We aim to accelerate the transition to electric vehicles through this additional distribution in the second half."

ronia@fnnews.com Lee Seol-young Reporter