Renault Samsung Motors’ SM3 ZE and Kia Motors’ Ray were chosen as the first two electric cars to receive tax breaks starting next month in a bid to promote sales of the eco-friendly vehicles.
The Ministry of Knowledge Economy said Wednesday that tax breaks of up to 4.2 million won will be provided for the SM3 ZE and the Ray, which are priced at around 60 million won and 45 million won, respectively, as the two met all the requirements for energy efficiency and technological details.
The SM3 ZE can run 5.79 kilometers per kilowatt hour, 176 kilometers on single charge and can reach up to 134.9 kilometers per hour.
The Ray can run 7.09 kilometers per kilowatt hour, 129.7 kilometers on single charge and reach up to 135 kilometers per hour.
The SM3 ZE now takes hours to be charged or needs battery replacements, but high-speed charging will be available starting December next year.
The Ray can be charged in six hours or within 25 minutes.
Since the Ray is a mini-car, however, tax benefits of some 5.54 million won for mini-cars will be greater than that for electric cars.
The SM3 ZE will be sold to public institutions next year before sales to general consumers starting 2013. Renault Samsung plans to roll out 500 of the electric vehicles from its Busan plant next year, and 6,000 in 2013.
Two-thousand units of the Ray, developed based on Hyundai Motor’s electric car BlueOn, will be churned out from the Kia factory in Seosan, South Chungcheong Province.
Government subsidies of about 17.6 million won per vehicle were offered for the BlueOn this year.
“Next year, in addition to the tax breaks, the government will provide subsidies according to the sizes of the electric cars,” a Knowledge Economy Ministry official said.
“The Environment Ministry has earmarked 60 billion won in next year’s budget for this.”
