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S. Korea to cut EV charging cost by 50% over next 3 yrs

Collected: 2016.12.12

Distributed: 2016.12.13

Source: Go Direct

South Korea’s government will offer incentives for electric vehicles (EVs) starting early next year to promote proliferation of EVs.

The Ministry of Industry, Trade and Energy (MOTIE) said Sunday that it will cut electricity charging costs for plug-in hybrid cars up to 50 percent and also eliminate basic fees for three years starting January 2017.

Currently, it costs 11,000 won ($9.38) when using individual EV battery chargers per month and 75,000 won for using a quick charger at a charging station. Electricity cost varies from 52.5 won to 244.1 won per kilowatt hour (kWh), depending on usage time and season.

With the government’s new incentive on EVs put in place next year, electricity cost for an EV owner that runs 15,000 kilometers a year – when charging at night time at a charging station – will be reduced from 400,000 won to 135,000 won. A plug-in hybrid can run about 6 kilometers using 1 kWh of electricity.

By Ko Jae-man

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