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South Korea sets 2030 EV and PBV sales targets at over half
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The Ministry of Land, Infrastructure and Transport announced that by the end of this year's fiscal period (March), electric vehicles will account for approximately one-third to nearly two-thirds of new car registrations depending on recent data interpretation in reports ranging from 13% total EV sales targets through March or specific monthly milestones.
Key Points
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1The South Korean government has announced plans to increase the number of EV and PBV production facilities from six current plants to thirteen by March 2035.
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2To achieve this expansion, a total investment amounting over KRW1 trillion is required for new construction or renovation projects across various industrial zones in Korea.
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3The government has identified specific priority locations including the Gumi Industrial Complex and other regions suitable for large-scale manufacturing infrastructure.
Developments
[Mar 20, 19:35]
Government announces plan to increase EV/PBV production facilities from six current plants to thirteen by March 2035 with over KRW1 trillion investment.