Busan City Supports Promotion of Locally Produced Micro Electric Vehicle 'Twizy' Sales

Increase in Electric Vehicle Subsidy Dispute Threshold

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] Busan City is strengthening support to promote the sales of the ultra-compact electric vehicle ‘Twizy (TWIZY)’ produced by local companies.

On the 21st, Busan City announced that it will increase the municipal portion of the electric vehicle subsidy to support the sales of locally produced ultra-compact electric vehicles.

The ultra-compact electric vehicles currently eligible for subsidies include Renault Samsung’s Twizy (TWIZY), Daechang Motors’ Danigo (DANIGO), and Semisisco’s D2 (D2). Among these, subsidies will be increased for the Busan-made Twizy to promote its sales.

The city will actively identify demand sources such as administrative agencies and public corporations, and will also actively support the supply of Twizy specialized for postal delivery. In cooperation with the Ministry of Trade, Industry and Energy, the Korea Automotive Technology Institute, and others, Busan will also actively work to pioneer the Asian market.

The production facility for Renault Group’s ultra-compact electric vehicle Twizy was originally located in Valladolid, Spain, but was relocated to Busan last year.

Twizy is produced at the Busan factory by Dongshin Motec Co., Ltd. through an Original Equipment Manufacturer (OEM) method, with a production capacity of about 5,000 units. Last year, 715 units were produced and exported to Europe and other regions. This is expected to create 53 new jobs and generate sales of 300 billion KRW by 2023.

Jung Dong-won, Director of the Manufacturing Innovation Foundation Division at Busan City, said, “We will strengthen support for ultra-compact electric vehicles produced locally to create jobs and revitalize the regional economy. We will actively promote the use of the eco-friendly electric vehicle Twizy in various fields within the region and further support the expansion and pioneering of the Asian market.”