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[THE INVESTOR] The government may introduce an eco-friendly car supply quota to increase the number of electric cars on the road.
“As electric car supply is low, there is a need to review mandatory eco-friendly car supply system which is in place overseas,” Minister of Environment Cho Kyeung-kyu said on Oct. 19.
Cho said that 2,401 electric cars have been supplied during the first three quarters of the year, when the target for the year is 10,000 units. According to the ministry, the shortfall in electric car sales comes from the supply side as carmakers sell their eco-friendly vehicles overseas.
“As electric car supply is low, there is a need to review mandatory eco-friendly car supply system which is in place overseas,” Minister of Environment Cho Kyeung-kyu said on Oct. 19.
Cho said that 2,401 electric cars have been supplied during the first three quarters of the year, when the target for the year is 10,000 units. According to the ministry, the shortfall in electric car sales comes from the supply side as carmakers sell their eco-friendly vehicles overseas.
According to the government, local carmakers give overseas markets priority in supplying eco-friendly cars due to tax benefits reserved for carmakers that meet the eco-friendly car quota. At present, seven electric car models are produced by local carmakers. Although Hyundai Motor’s latest model Ioniq has seen an increase in demand, the labor dispute at the company has cut the monthly production to less than 1,000 units.
By Choi He-suk (cheesuk@heraldcorp.com)
