South Korea’s shipments of environment friendly vehicles jumped an average of 33 percent annually in the past seven years on growing overseas demand, an auto business lobby group said.
Local carmakers exported 196,000 eco-friendly vehicles in 2018, up from 35,000 units in 2012. Eco-friendly cars accounted for 8 percent of the country’s overall vehicle exports last year, up from 1.1 percent six years earlier, according to data from the Korea Automobile Manufacturers Association.
Globally, increased subsidies and tax benefits to promote eco-friendly cars have helped buoy demand for such vehicles, KAMA said. (Yonhap)