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South Korea announces comprehensive plan to revitalize EV, battery industries

( January 15, 2025, 04:13 GMT | Official Statement) -- MLex Summary: South Korea has announced a comprehensive plan to boost its eco-friendly vehicle and secondary battery industries amid slowing market growth and global uncertainties. The government will provide expanded subsidies for electric vehicles that match manufacturer discounts, install 4,400 rapid charging stations this year and extend highway toll discounts for eco-friendly vehicles until 2027. The plan includes development of a Level 4 autonomous driving commercialization roadmap, 7.9 trillion won in policy financing for the battery sector, a 30 percent increase from last year, and measures to strengthen domestic battery supply chains through preferential tax benefits.The statement, in Korean, is attached....

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