However, the government’s subsidy expansion programme could exacerbate an ongoing price war.
EV sales in South Korea fell from 71,744 to 67,654 in the first eight months of this year, compared to the same period last year.
The discounts, which go into effect next month, will run through the end of 2023 to take advantage of the government’s temporary subsidy expansion, they said. “A price war will intensify next year in Korea as foreign carmakers may release new models,” Lee said. “US or European brands made in China could draw popularity.”
For example, Hyundai’s Ioniq 5 will sell for 46 million won , a discount of 8%, or 4 million won, from its original price. Residents of Seoul will be able to get it for even less — about 40 million won — when local subsidies are included.
Italia Ultime Notizie, Italia Notizie
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