The South Korean government announced on the 21st that electric vehicles priced over 90 million won (NTD 2.28 million) will no longer be eligible for subsidies, and full subsidies will be limited to electric vehicles priced under 60 million won (NTD 1.52 million).
Business Korea reports that from 2013 to 2019, the South Korean government provided subsidies of up to 8 million won (NT$200,000) per electric vehicle, regardless of the price of the vehicle, but in the future the amount of subsidy will vary depending on the price of the vehicle, for example, electric vehicles priced between 60 million and 90 million won will only receive 50% of the subsidy.
After the new system hits the road, luxury vehicles such as tesla‘s Model S, Jaguar I-Pace, Mercedes EQC400 and Audi e-tron will not be eligible for subsidies.
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