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Korean importers of Chinese electric buses frustrated by subsidy cut

The Ministry of Environment has decided to reduce subsidies for the purchases of electric vehicles (EVs) that use batteries with lower energy density, thwarting the attempt by Korean importers of Chinese electric buses to stop the move. In contrast, the ministry accepted the request from Korean importers of cars made in the U.S., Europe and Japan to continue to offer subsidies for the purchases of EVs made by carmakers having outsourced service centers here.
Kyonggi Do South Korea Gs Group Ministry Of Environment Chinese Embassy In Korea Korea Automobile Importers Distributors Association

China blasts Korea's move to cut subsidies on Chinese EVs sold here

The government is facing a severe backlash from importers of Chinese electric buses, as well as the Chinese Embassy in Korea, due to its plan to reduce subsidies for the purchases of imported electric vehicles (EVs) that use batteries with lower energy density, according to industry officials, Wednesday. Most Chinese electric buses are equipped with lithium ferro-phosphate (LFP) batteries with lower energy density compared to nickel, cobalt and manganese (NCM) batteries used in Korean EVs.
United States South Korea Gs Group Korea International Trade Association Executive Vice Chinese Embassy European Union

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