Lee on Tighter Electric-Bus Subsidies: "A Policy Being Pursued Worldwide, Including in China"

[Financial News] President Lee Jae Myung, referring to media reports that the share of domestically made electric buses had risen following tighter subsidy standards, stressed on the 28th, "It is belated, but obviously a necessary measure."
Lee wrote this on X (formerly Twitter) while quoting a post by a user who had shared an article on the issue.
Lee also said, "It is a policy being pursued worldwide, including in China."
The article said that the share of domestically made electric buses had reached 77.7% in the first half of this year, marking an all-time high, as the government tightened eligibility requirements for electric-bus subsidies.
The domestic electric-bus market share is analyzed to be rising again as the government raises the bar for electric-bus subsidies.
By contrast, the share of domestically made electric passenger vehicles fell from 69% in 2022 to 51.2% in the first half of this year, amid increased sales of China-made Tesla and BYD vehicles.
[email protected] Choi Jong-geun Reporter