Volkswagen Korea to Provide Electric Vehicle Subsidy for ID.5 Buyers

Excluded from Ministry of Environment Subsidy Due to Re-evaluation
"Addressing Customer Concerns and Inconvenience"

Volkswagen Korea announced on May 19 that it will provide its own subsidy for the purchase of the 'ID.5', which has been excluded from the Ministry of Environment's electric vehicle subsidy list, in an amount equivalent to the government subsidy.

The support applies to customers who purchase the ID.5 from the date the subsidy exclusion measure takes effect, as well as to those who pre-ordered the vehicle before the measure but were excluded from the subsidy recipients. The subsidy support will be discontinued if the vehicle inventory is depleted or if the ID.5 is re-listed on the Zero Emission Vehicle Integrated Portal in the future, making it eligible for government subsidies again.

The ID.5 is Volkswagen's second all-electric model introduced to the Korean market, following the 'ID.4' electric SUV, which ranked first in sales among European electric vehicle models in Korea in the first quarter of this year. Customer deliveries began this month, and the model is receiving significant attention due to the high waiting rate for new vehicle deliveries.

However, as of May 12, the ID.5 was excluded from the Ministry of Environment's electric vehicle subsidy list. On November 6 of last year, the electric vehicle subsidy evaluation regulations were revised, requiring the ID.5, which had been tested under the previous standards, to undergo a re-evaluation of its battery energy density and single-charge driving range. In response, Volkswagen submitted the necessary documents to the relevant authorities within the deadline according to the revised regulations, and the Ministry of Environment is currently reviewing them.

Till Scheer, CEO of Volkswagen Korea, stated, "This voluntary support was prepared to address customer concerns and to reward their trust," adding, "We will continue to prioritize the brand's core values and customer trust, and do our utmost to become a brand that is even more loved."