[THE INVESTOR] Renault Samsung’s mini electric car Twizy may be rolled out in South Korea as early as October, according to a local news report. 

The compact electric car has a top speed of 80 kilometers per hour and is able to cover a maximum of 100 kilometers on a single charge. 

Twizy was previously not able to be released in the nation because of regulations on compact electric cars. In May, the Transport Ministry lifted these barriers amid rising demand for such cars and growing criticism of the government’s complacency toward electric cars.

Local online media No Cut News reported that Twizy may be rolled out in Korea possibly in October, as the government will allow the operation of the small electric car as soon as the result of its safety performance is out.

Considering the car’s horsepower and battery capacity, the buyers of Twizy are predicted to receive 5 million won ($4,500) in EV subsidies, according to industry watchers.

“We are in talks with the Environment Ministry (regarding the subsidies) and buyers of Twizy are expected to get financial support as it is classified as an electric car,” said an official at the Transport Ministry.

Renault Samsung plans to initially bring in some models from France this year, but will produce them in its Busan factories from next year, sources said. 

By Shin Ji-hye (shinjh@heraldcorp.com)