Korea's Finance Minister Meets Hyundai's Chung as Industry Pushes for an EV Production Tax Credit
South Korea's Deputy Prime Minister and Finance Minister Lee Hyeong-il met Hyundai Motor Group chairman Euisun Chung at the group's Namyang R&D Center in Hwaseong. Carmakers asked for an EV production tax credit. The government said it would «actively participate in discussions in the National Assembly».
By the Tesla News Wire staff · Edited by Seamus McKenna · · 2 min read
Korea is weighing direct support for EV production. Asia Economy and Aju Press report on Finance Minister Lee Hyeong-il's visit to Hyundai's main R&D centre.
The meeting
Lee met Chung for about 20 minutes at the Namyang R&D Center in Hwaseong, followed by a roundtable with the industry.
What the industry asked for
A production tax credit for electric vehicles.
A legal basis for battery leasing.
Support for auto parts makers.
What the government said
The government said it would «actively participate in discussions in the National Assembly» on the tax credit. An EV competitiveness plan is due this month.
Autonomous driving
The reports also mention an autonomous-vehicle demonstration in Gwangju, aiming for 200 vehicles by the end of the year and 3,000 by 2027.
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