According to foreign media reports, in the wave of development of new energy vehicles, sitting in the Hyundai Motor Group, South Korea, is also investing heavily, the Korean side has plans to promote the development of new energy vehicles such as electric vehicles through a variety of incentives.
South Korea, which has been making great efforts to develop new energy vehicles, is also becoming an important market for new energy vehicles, with the number of registrations of new energy vehicles continuing to increase significantly, according to the news released by the South Korean side.
Foreign media reports show that the South Korean Ministry of Land, Infrastructure and Transport revealed on Sunday that the number of new energy vehicle registrations in South Korea had reached 1.515 million by the end of October, an increase of 38.3% year-on-year.
In the report, the media also mentioned that the number of new energy vehicles registered in South Korea exceeded 500,000 in April 2019 and reached 100 in July last year, from 1 million to 1.5 million in just 15 months, a significantly shorter period than the 500,000-1 million units.
Among the registered new energy vehicles in Korea, most of them are hybrid vehicles, registering 1.121 million units, accounting for nearly 74% of all new energy vehicle registrations; 365,000 pure electric vehicles, accounting for 24.1% of new energy vehicle registrations; and 27,000 hydrogen fuel cell vehicles.
Of the 25.402 million vehicles registered in Korea, the proportion of new energy vehicles increased to 5.96% in October and will continue to increase as registrations continue to grow.