BUSINESS

EVs to have little effect on electricity supply, demand

By Yonhap
  • Published : Oct 10, 2017 - 10:14
  • Updated : Oct 10, 2017 - 10:14
Electric vehicles will have little effect on the electricity supply and demand in South Korea even if the number of emission-free cars reaches 250,000, a local report said Tuesday.

The government has set the target figure by 2020, sharply up from this year's goal of 46,000. As of the end of August, the number of electric vehicles stood at 19,022, according to the documents the National Assembly Budget Office provided to Rep. Lee Che-ik of the main opposition Liberty Korea Party upon his request. 

Tesla Motors Inc.`s Model S 90 D electric vehicle (Yonhap)

An estimated electricity consumption of 250,000 electric cars will reach 644 gigawatt-hours, accounting for a mere 0.13 percent of the annual electricity demand of 497,038 GWh last year, the report showed.

While tightening rules against diesel-powered vehicles, the government is aggressively pushing for the expansion of electric cars and building up the charging infrastructure. It also provides subsidies worth at least 14 million won ($12,300) per EV.  (Yonhap)