South Korea aims to garner 12 percent of world’s EV market by 2030
South Korea seeks to significantly boost production of electric vehicles to more than double domestic carmakers’ global market share to 12% by 2030 and to be a global car industry powerhouse, the industry ministry said on Wednesday.
For the goal, the government vowed to provide tax incentives and various supportive measures to promote carmakers’ investment worth about a combined 95 trillion won ($66.03 billion) by 2026, according to the Ministry of Trade, Industry and Energy.
The comprehensive road map was announced during a meeting presided over by Industry Minister Lee Chang-yang and attended by senior officials of major carmakers and related firms, including Hyundai Motor, Kia, GM Korea and major wireless carrier KT Corp, reports Yonhap news agency.
