South Korea to build 500,000 electric vehicle charging stations by 2025

Oct 30, 2020 – South Korea has unveiled a plan to further develop the EV and fuel cell car industry by increasing the number of charging stations and making such vehicles more affordable for people.

According to the Ministry of Trade, Industry and Energy,  the country will increase its total sales of electric and hydrogen fuel cell vehicles to 1.13 million and 200,000, respectively by 2025.

As of September, the aggregate number of electric vehicles on the roads of South Korea reached 120,000 units, and of hydrogen cars – about 9,500 units.

“South Korea will create an infrastructure in which people can charge electric vehicles like cell phones,” the ministry said. The country will have 500,000 electric vehicle charging stations by 2025, which means a steep increase from about 60,000 units installed nationwide as of September.

Starting from 2022, some new homes will be sold with built-in charging stations. The country will also construct fast charging stations that will be able to charge 80% of the battery within 20 minutes, the ministry said.

By 2025, the number of hydrogen charging stations will reach 450 as compared with 72 this year.

To make environmentally friendly cars more affordable, the country will also make efforts to increase tax deductions for the purchase of such vehicles by 2022 and will work closely with private firms to bring down prices for essential spare parts.

The government will launch a pilot “battery-free” project in which buyers can buy electric vehicles without paying for batteries and rent them out instead.

By 2022, the country also plans to finalize regulations for self-driving cars, including rules for their safety and insurance.

By 2024, South Korea will aim to partially implement the fourth level of autonomous driving, in which cars can be fully driven without a human.

“We plan to develop policies that will help manufacturers of auto components and maintenance systems, as well as experts, move to the automotive industry of the future,” the ministry said in a statement.