The government will relax the eco-friendly certification standards for large electric passenger cars so that more consumers can benefit from tax incentives.
The Ministry of Trade, Industry and Energy recently announced on the 12th that it has made an administrative notice of the amendment to the 'Regulations on Requirements for Environmentally Friendly Vehicles.'
The amendment categorizes electric passenger cars into mid-sized and large based on a wheelbase of 3,050 mm, and large electric passenger cars will be recognized as eco-friendly vehicles if they meet an energy consumption efficiency of 3.4 km/kWh.
For vehicles with a wheelbase of less than 3,050 mm, the standards have been strengthened so that they must achieve an energy consumption efficiency of 4.2 km/kWh or more to receive eco-friendly vehicle certification.
Currently, electric passenger cars, regardless of size, must have an energy consumption efficiency of 3.7 km/kWh or more to be recognized as eco-friendly electric vehicles.
Eco-friendly certified vehicles receive a maximum reduction of 3 million won in special consumption tax. Additionally, reductions in education tax corresponding to 30% of the special consumption tax exemption and a maximum reduction of up to 1.4 million won in acquisition tax are also provided.
With this regulatory revision, the Hyundai Ioniq 9 and the Kia EV9, which are set to be launched this year, are expected to be subject to the relaxed eco-friendly certification regulations.