South Korea will cut subsidies for electric cars by 2022 and get up to $5900_SMM
[South Korea will cut subsidies for electric vehicles by up to $5900 in 2022] according to foreign media reports, the price of electric vehicles in South Korea is likely to rise this year as the South Korean government decides to reduce subsidies for electric vehicles from January. This year, only electric cars with a price of 55 million won ($46000) or less are eligible for full government subsidy, compared with electric cars priced at 60 million won or less last year, South Korea's Ministry of Environment and the auto industry said on Jan. 20.
Source: metal.com