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South Korea to Invest in Electric Cars

South Korea to Invest in Electric Cars
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South Korea to Invest in Electric Cars

Last year in South Korea doubled the number of electric vehicles year on year to nearly 6000, and officials expect that figure to more than double again to 14000 this year.


By 2020, the government wants 250,000 electric vehicles on the road and to help achieve this, the Government and car manufactures are encouraging electric cars to become a permanent feature in the countries everyday lives. South Korea have typically lagged behind in the adoption of eco-friendly vehicles but authorities and carmakers are now hoping a combination of vast infrastructure development, subsidies and much awaited advances in battery technology will boost interest among drivers.


With South Korea’s reputation for innovative cutting-edge technologies, they are expected to make great headway in the electric car market and with the recent VW scandal there is expected to be much larger demand for electric cars moving forwards. Hyundai, who are the world’s fifth largest carmaker, launched South Korea’s first mass-produced electric vehicle during 2016 namely the Ioniq. Hyundai plan to build upon their market dominance in 2017 and beyond with a model that could travel 320km on a single charge.


With the arrival of Tesla’s newest model expected later this year there is certainly plenty of competition in the market but electric appears to be the future both overseas and in the UK.


If you’re looking for an electric car on lease or you’re not quite ready to make the jump to electric yet, then get in touch because we can help. Call Short Term Leasing on 0330 330 9425 or complete the form below and we’ll be in touch as soon as we can.


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