While the total amount of automobile exports in South Korea are decreasing, the export of hybrid and electric cars are increasing. According to the Korea Automobile Manufacturers Association, the exports of the automobile have been decreased by about 4.2 percent than the last year, but the hybrid car has been increasing. In 2007, about 196,000 hybrid cars were exported, which have 8.8 percent of total exports. This year, the amount has been increased by about 28.5 percent than last year. At the end of the year, the association expects the total amount of export will be increased to 250,000.

▲ KIA soul EV

The reason why the exports of hybrid cars are increasing is that the various kinds of designs and technologies were made. In the past, the hybrid was the only clean car having just the same design of the old one. However, in 2013, the electric car and hydrogen-powered car was made, and in 2015, the plug-in hybrid electric vehicle was made. Also, the car gives high performance among similar products. For example, the KIA soul EV has improved in its fuel efficiency to 380 kilometers. Moreover, the Hyundai Ioniq was chosen as the most compact car having the highest fuel efficiency in the USA.

▲ Hyundai Ioniq has highest fuel efficiency

The supporting policy which people bought hybrid cars in different countries also affects the increase in exports. According to the KAMA, South Korea exported most of the clean cars to the USA, Israel, the UK, Germany, and Spain which are also the large export markets. This is because the country is conducting many supporting policies to hybrid cars. In the USA, they deducted the tax for 7,500 dollars and provided the road with priority policy. Then, in Israel, the tax in buying hybrid cars are deducted about 25 percent. Also, in Germany, the UK, and Spain, they deducted the acquisition tax and possession tax.

▲ Korea should strengthen the investment in Hybrid cars

To develop the quality of hybrid cars, the government should strengthen the investment of plants equipment and R&D. Moreover, people should also be concerned about the use of a clean car.

August 10th, 2019

by 장유진