“South Korea tightens EV subsidy rules, excluding BYD as the only major battery EV maker failing the new assessment.”
South Korea has introduced stricter eligibility criteria for electric vehicle subsidies. Under the new rules, only manufacturers and importers passing an assessment by the Ministry of Environment qualify for government support.
Among electric passenger car makers, ten companies met the new standards and secured subsidies. BYD stood out as the sole major battery electric vehicle manufacturer excluded from the program due to failing the qualification.
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