Annual Purchase Target of Eco-friendly vehicles (2022.01.27)

With the Act for Promotion for Eco-friendly Vehicles’ Supply and Development promulgated on July 27, 2021, MOTIE announced its annual purchase target of eco-friendly vehicles. To achieve the target, large companies, rental companies, taxi/bus/truck operators must purchase or lease a certain percentage of eco-friendly vehicles. Otherwise, they will have to pay charges for mandatory implementation. The regulation specifies the annual target and calculation criteria for verifying the fulfillment of the target. With the purchase mandate, the market share of EV is expected to be soaring for commercial vehicles.