Korea Planning to Expand the Supply of EVs andChargers for EVs

Aiming to be the World’s No. 1 in Future Automobile Competitiveness

For carbon neutrality in the transportation sector, which is responsible for 18.2% of global greenhouse gas emissions, moves are accelerating toward the cessation of the production of internal combustion engine cars and shifting to electric vehicles.
Leading countries are actively promoting eco-friendly vehicle support policies in connection with the development of their own industries, so it is expected that the electric vehicle market will grow rapidly.
The global electric vehicle market dominance is expected to grow sharply by more than 40% annually — from 1.7% (1.49 million units) in 2019, to 11.8% (11.8 million units) in 2025.

The Korean government is expanding the supply of electric vehicles and chargers — aiming to be the world’s No. 1 in future automobile competitiveness. The government aims to supply 1.13 million electric vehicles by 2025 and secure the world’s No. 1 competitiveness, establishing a proactive implementation strategy of charging infrastructure suitable for the popularization of electric vehicles, and aiming to supply 1.2 million fast chargers and 500,000 slow chargers by 2025.
Currently, domestic automobile manufacturing companies and corporate and private parties are actively participating in this strategic plan. Hyundai Motor is expecting to leap into the third place in electric vehicles by selling 1.06 million units annually in the global market by 2025, and Kia Motors has set a goal to increase the proportion of eco-friendly automobile sales to 25% (500,000 electric vehicles sold) by 2025.
Corporations are actively participating in a program for shifting to the zero-emission car K-EV 100 (replacing all corporate vehicles with zero-emission vehicles by 2030) and participating in the shift to electric vehicles as part of ESG management. With the image that electric vehicles are eco-friendly, the number of persons who wish to purchase electric vehicles is rapidly increasing – from 48.3% in 2018 to 58.2% in 2021.

 
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