Ulsan to Distribute 500 Hydrogen Electric Vehicles Starting February... Last Year, 1,868 Units Nationwide Highest

Outstanding Environmental Improvement and High Performance... Various Benefits Including Detergents and Tolls

In June of last year, Ulsan City, the Korea Hydrogen Industry Association, and Hyundai Motor Company held a hydrogen car test drive event at Ulsan Grand Park. [Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City is set to promote the distribution of hydrogen electric vehicles in 2021.

Ulsan City announced on the 27th that it will first supply 200 units in the first phase this year and a total of 500 units by the end of the year through the hydrogen electric vehicle distribution project.

Until last year, Ulsan City supplied the largest number nationwide with a total of 1,868 units. The hydrogen electric vehicle Nexo is highly rated for its world-class performance and quietness.

Purchasing a hydrogen electric vehicle comes with various benefits such as vehicle purchase subsidies, discounts on parking fees and tolls, and tax benefits. Additionally, since it emits no exhaust gases and has an air purification effect (removal of fine dust) equivalent to the amount of air that 43 adults can breathe during the vehicle’s operating time, it also contributes to environmental preservation.

When purchasing a hydrogen electric vehicle, the same purchase subsidy of 34 million KRW (national and city funds) as last year will be provided.

In particular, this year the vehicle price has been reduced by 1.25 million KRW, so in Ulsan, the ‘Nexo’ basic model Modern version can be purchased for 33.65 million KRW, and the premium model Premium version for 36.95 million KRW.

There are tax reduction benefits of up to 6.6 million KRW, including individual consumption tax of 4 million KRW, education tax of 1.2 million KRW, and acquisition tax of 1.4 million KRW. Benefits such as a 50% discount on public parking fees and a 50% reduction in highway tolls are also maintained.

The application period is from February until the project budget is exhausted, and eligible applicants are citizens aged 18 or older and corporations with an address in Ulsan City as of the day before the application date.

Buyers do not need to apply for subsidies directly at Ulsan City Hall; they can apply for vehicle purchase and submit the necessary documents through Hyundai Motor Company branches or dealerships, which manufacture and sell hydrogen electric vehicles. The hydrogen vehicle manufacturer and seller will apply for the subsidy through the Ministry of Environment’s electric vehicle purchase subsidy support system.

Purchasers who receive the subsidy for hydrogen electric vehicles must operate the vehicle for two years, and if the vehicle is scrapped during the mandatory operation period, prior approval from Ulsan City must be obtained.

For detailed information on applying for the hydrogen electric vehicle purchase subsidy, refer to the announcement on Ulsan City’s website or contact the Energy Industry Division of Ulsan City.

An official from Ulsan City said, “Hydrogen energy is a renewable energy attracting attention from major countries such as the United States and Japan, and the expansion of hydrogen electric vehicles and hydrogen charging infrastructure marks the beginning of an energy paradigm shift centered on hydrogen,” adding, “We hope people take an interest in future vehicles that are both environmentally friendly and economically excellent.”