ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) The city to invest KRW 11.5 million, Citizens can purchase the model for KRW 34.9 million.

Ulsan citizens will be able to own Nexo, Hyundai’s hydrogen-powered car, for KRW 34.9 million.

On the 19th, the Ulsan Metropolitan Government finalized the amount of the city’s subsidy for Nexo at KRW 11.5 million per vehicle.

The sales price of Nexo, which will be released on the 27th, is KRW 68.9 million for the Modern (standard) model, and KRW 72.2 million for the Premium model.

With the city subsidizing KRW 11.5 million of the price and the central government subsidizing KRW 22.5 million, the actual amount that an Ulsan citizen has to pay is only KRW 34.9 million for the Modern model, and KRW 38.2 million for the Premium model, acquisition tax not included.

With the acquisition tax added, the amount will increase by KRW 2.38 to 2.59 million.

Ulsan’s subsidy is higher than that of Chungcheongnam-do (KRW 10 million) and Changwon (KRW 10.6 million) by KRW 900 to 1,500 thousand. The subsidy is the second highest in the world, after Seoul’s KRW 12.5 million.

With support from the central government, the city government plans to supply 95 Nexon cars this year, while Gwangju and Changwon are set to supply 66 and 57 cars, respectively.

Those eligible for the subsidies are citizens over 17 who has lived in Ulsan from at least January 1, 2018 to the date of application, as well as businesses, corporations and organizations, public agencies, and local government entities. A single business can only apply for up to 10 cars. Reservation opens on the 19th at Hyundai Motors offices and dealers in Ulsan.

Nexo travels 609 kilometers with a single charge, which is a 40 percent improvement over Tucson Hydrocontrols’ 415 kilometers.

Ulsan currently has two hydrogen charging stations in operation. The city plans to add three more in June, and another three more in the first half of next year.

An Ulsan city official said, “We decided to offer one of the highest subsidies for Nexo, as we did with Tuscon, to consolidate our status as the leading city in the hydrogen powered car industry,” and “We will stay ahead as hydrogen powered cars penetrate the market by building charging stations and other infrastructure early on.”

leeyoo@yna.co.kr

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Source Text

** This article was translated from the Korean.

Source: Yonhap News (Mar. 19, 2018)