S. Korean battery-powered cars take step closer to receiving state subsidy in China
- 5 years ago
Electric car models that run on batteries manufactured by South Korean manufacturers - LG Chem and Samsung SDI - have been included on a list entitled to state subsidies in China.
Experts say this could pave their entry into the world's largest electric vehicle market.
Kim Hyo-sun reports.
The Chinese government has revealed a list of eco-friendly car models that have passed preliminary approval for receiving subsidies.
The list,... disclosed by the Ministry of Industry and Information Technology,... includes four electric car models manufactured by Dongfeng Renault that use batteries produced by South Korea's LG Chem.
Also on the list is an electric vehicle model developed by Jinkang New Energy Automobile that uses a battery made by Korea's Samsung SDI.
The move means Korean battery manufacturers have taken a step closer to receiving Chinese subsidies.
The final results will be made public in May.
Subsidies are critical for Chinese electric car manufacturers, because state subsidies for electric vehicles can cover as much as half of the price of the cars.
South Korean battery manufacturers have struggled to gain a foothold in the Chinese market since late 2016,... when Beijing did not approve them as electric car vehicle battery suppliers within the country.
Kim Hyo-sun, Arirang News.
Experts say this could pave their entry into the world's largest electric vehicle market.
Kim Hyo-sun reports.
The Chinese government has revealed a list of eco-friendly car models that have passed preliminary approval for receiving subsidies.
The list,... disclosed by the Ministry of Industry and Information Technology,... includes four electric car models manufactured by Dongfeng Renault that use batteries produced by South Korea's LG Chem.
Also on the list is an electric vehicle model developed by Jinkang New Energy Automobile that uses a battery made by Korea's Samsung SDI.
The move means Korean battery manufacturers have taken a step closer to receiving Chinese subsidies.
The final results will be made public in May.
Subsidies are critical for Chinese electric car manufacturers, because state subsidies for electric vehicles can cover as much as half of the price of the cars.
South Korean battery manufacturers have struggled to gain a foothold in the Chinese market since late 2016,... when Beijing did not approve them as electric car vehicle battery suppliers within the country.
Kim Hyo-sun, Arirang News.