South Korea Unveils Plan to Rev Up Sales of Greener Cars

8 Dec 2015   South Korea

South Korea on Tuesday unveiled a five-year plan to drastically increase the number of environmentally-friendly cars on its streets, as auto makers’ emissions come under intensifying scrutiny globally. The government aims to ensure that hybrids, electric vehicles and hydrogen fuel-cell cars account for 20% of all new cars sold in the country by 2020, up sharply from the current 2%, according to the plan by the Ministry of Trade, Industry, and Energy. The moves are part of Korea’s wider schemes to cut greenhouse gas emissions from vehicles by 3.8 million tons, or 11%, from business-as-usual levels over the next five years, the ministry said in a statement. Electric-vehicle adoption has been relatively slow in Korea compared with other advanced markets because of the high price tags, the lack of charging infrastructure and low consumer perceptions of […]

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