1. Background and rationale of government intervention

Ambitious targets for the supply of environment-friendly motor vehicles were presented through the 4th Environment-Friendly Motor Vehicles Master Plan (February 2021), Measures to Support the Transition to and Export of Future Vehicles (May 2023), and Measures to Expand the Infrastructure for Future Increases in Electric Vehicles (Ministerial Meeting on National Policy Agendas, June 2023), etc., and purchase targets for environment-friendly vehicles were introduced to create large-scale demand (Environment-Friendly Motor Vehicles Act, January 28, 2022).

 - The Environment-Friendly Motor Vehicles Act prescribes that annual purchase targets for environment-friendly vehicles shall be specified in the Notice

2. Description of regulations

ㅇ Prescribe annual purchase targets for 2024 for businesses subject to purchasing requirements (same as 2023).

 ◾ Business groups subject to disclosure, car rental business entities: Environment-friendly vehicles 22%, electric/hydrogen vehicles 13%

 ◾ General taxi transport providers: Electric/hydrogen taxis 7%

 ◾ Intra-city bus transport providers: Electric/hydrogen buses 6%

 ◾ Truck transport providers: Electric/hydrogen trucks 20%