Seoul City to Deploy 300 Eco-Friendly Electric Taxis with Up to 18 Million Won Support

Additional 6 Million KRW Purchase Subsidy for Electric Passenger Cars Compared to Standard Models... Online Applications Open from the 26th

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 26th that it is recruiting individual and corporate taxi operators to participate in this year's eco-friendly electric taxi distribution project. Seoul plans to provide purchase subsidies for 300 electric passenger cars in two phases to taxi transportation operators holding Seoul taxi licenses.

This year, purchase subsidies will be provided differentially based on vehicle price and performance. High-priced vehicles over 90 million KRW are excluded from subsidy support, while vehicles under 60 million KRW will receive the maximum subsidy. Vehicles under 60 million KRW will be supported up to 100%, those between 60 million and 90 million KRW will be supported within 50%, and vehicles over 90 million KRW will not be supported. Subsidies based on vehicle performance will be provided differentially according to fuel efficiency, driving range, and energy efficiency (range at normal and low temperatures).

Since taxis travel 7 to 13 times longer distances daily than regular passenger cars, switching to electric vehicles has a significant greenhouse gas reduction effect, so a subsidy of up to 18 million KRW, which is 6 million KRW more than for regular passenger cars, will be provided. Each electric taxi introduced reduces greenhouse gas emissions by 21.224 tCO2, and if all 300 units planned for distribution this year are supplied, approximately 6,367 tCO2 of greenhouse gases are expected to be reduced.

Applications for participation in the electric taxi distribution project and subsidy requests will be accepted online from the 26th through the Ministry of Environment’s Low Emission Vehicle Integrated Website, and more detailed information can be found on the Seoul Metropolitan Government’s website. Hwang Bo-yeon, Director of Urban Transportation at Seoul City, said, “Electric taxis, which are excellent for reducing greenhouse gases and improving air quality, as well as being quiet and providing a comfortable ride, need the interest of taxi operators and citizens to be widely distributed,” adding, “We will continue to expand the distribution of electric taxis to accelerate the transition to eco-friendly vehicles.”