The criteria for electric vehicle subsidies for 2023 have been released. A 100% subsidy is granted up to 57 million won, which is 2 million won higher than last year. However, the subsidy has been reduced by 200,000 won, with a limit of 6.8 million won. As a result, vehicles such as Hyundai’s Ioniq 5 and Ioniq 6, Kia’s EV6, All-New Niro, and Niro Plus will receive the full government subsidy of 6.8 million won.
Most local government subsidies have yet to be determined, but Incheon has set its subsidy at 3.5 million won. If you purchase an Ioniq 6 2WD Long Range model priced at 56 million won in Incheon, you will receive a total subsidy of 10.3 million won, combining the government subsidy of 6.8 million won and the municipal subsidy of 3.5 million won. This means the buyer only has to pay 45.7 million won.
The models with the highest subsidies among imported cars are GM’s Bolt EV and Bolt EUV. Both models are listed with a government subsidy of 6.4 million won, and with the Incheon local subsidy of 3.29 million won, the total subsidy amounts to 9.69 million won.
Additionally, Tesla’s Model 3 and Model Y, which have faced much controversy due to repetitive price hikes and reductions, will qualify for a government subsidy of 2.6 million won. The Seoul city government plans to announce electric vehicle subsidies, including local subsidies, at the end of February.
Lee Sang-jin daedusj@autodiary.kr