MOE announced the Guideline for Subsidy Management for 2022 EV Supply. Under the 2022 Guideline, more drivers will be eligible for the subsidies this year, although the maximum subsidy amount for each vehicle type is decreased. As the government promotes more affordable EVs, the upper limit for each price range for the subsidies will be lowered. While EVs priced at 85 million won or more will not be eligible for the subsidies, EVs priced at below 55 million won will receive a full government subsidy (7 mil. won). In addition, as MOE aims to tighten the management of EV waste batteries, vehicle manufacturers must provide essential battery information to be eligible for the subsidies.
Major contents include as follows:
- The subsidy for meeting the supply target will be expanded to encourage early achievement.
- The subsidies will be provided by applying differential subsidy rates according to the vehicle price.
- The subsidies will be provided based on the performance, supply target achievement, and vehicle price discount.
- Vehicle manufacturers must provide the essential battery information.
