The subsidy benefits for electric vehicles are so great that not many people buy them at full price. This year’s electric vehicle subsidy reform plan came out, and the support criteria have become a little more stringent than last year. If you are planning to buy a car, please be sure to check it out. Find out how it was reorganized
Last year, the electric vehicle subsidy reform plan was confirmed to be more stringent than that of 2023.
Find out about the essential reform plan for those planning to buy a car.
Electric vehicle subsidy reform plan
index
How to get the most out of your subsidy
For electric vehicles, subsidies vary depending on the price of the vehicle.
This year, only vehicles worth less than 55 million won can receive the maximum electric vehicle subsidy. The standard amount decreased by 2 million won compared to last year.
What are the standards for electric vehicle subsidies?
100% subsidy for less than 55 million won
More than 55 million won but less than 85 million won
50% subsidy provided
Subsidy of more than 85 million won not paid
So electric car companies are lowering their prices one after another.
Tesla lowered the price of the Model Y rear-wheel drive by 2 million won to 54.99 million won, and Germany’s Volkswagen’s electric vehicle ID.4 also lowered the price from 56.9 million won to 54.9 million won.
Electric vehicle market on fire
Recently, electric vehicle sales have slowed down a bit. This is because subsidies have been reduced compared to the beginning and inconveniences such as charging have not yet been completely resolved.
However, higher fuel efficiency and lower maintenance costs than internal combustion engine vehicles are still considered advantages. For those who have been thinking of buying an electric car, now can be a real opportunity as price discounts are on the rise.
Different amount depending on battery
This year’s subsidy is in the form of differentiated subsidies based on scores for battery performance, recycling, mileage, charging facilities, and after-sales service.
The lower the battery efficiency and recycling, the shorter the driving range, and the fewer charging facilities, the lower the subsidy.
Domestic electric vehicles that mainly use NCM batteries, which have high recycling value, receive more subsidies, while Tesla and Chinese electric vehicles that mainly use lithium iron phosphate (LEP) batteries receive less subsidies.
In particular, inexpensive Chinese electric vehicles are aiming to enter the domestic market this year. I think there is a hidden intention to defend this through a subsidy system.
How to get cashback
If you pay with a card when buying a car, you can receive cashback. Find the card company that offers the most cashback and even receive special cashback from Kakao Pay.