Impact of policy incentives on adoption of electric vehicles in South Korea

Hyunseok Kim

No 135, KDI Focus from Korea Development Institute (KDI)

Abstract: South Korea's strategies for deploying battery electric vehicles (BEVs) primarily include providing purchase subsidies and expanding charging infrastructure. An empirical analysis of new vehicle registrations from 2019 to 2022 shows that investing in charging facilities is more costeffective than offering purchase incentives for increasing BEV adoption. To achieve a higher share of BEVs, a stronger policy focus on improving the charging network is necessary to stimulate overall demand for BEVs.

Keywords: Electric vehicle; purchase; subsidy; public spending; sustainable mobility; impact analysis; South Korea (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-dcm, nep-ene, nep-reg and nep-tre
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kdifoc:302800

DOI: 10.22740/kdi.focus.e.2024.35

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