SEOUL – South Korea said today it will invest nearly ₩28 billion (RM102.36 million) in research and development (R&D) projects for eco-friendly automobiles and self-driving technologies. This is in line with the country's green energy drive, Yonhap News Agency reported.
The country plans to allocate ₩13.4 billion for research projects for electric vehicles (EV) and hydrogen fuel cell cars. Another ₩14.5 billion would be set aside for self-driving systems, according to the Ministry of Trade, Industry and Energy.
The budget will be spent on a wide array of R&D projects, including the development of large commercial hydrogen cars.
The country will also conduct more studies into making batteries for EVs lighter to improve fuel efficiency, and to find ways to recycle used ones.
Other key projects include the development of self-driving mobile medical clinics and stores.
South Korea plans to have EVs and hydrogen cars take up 33% of its market by 2030, up from 2.6% tallied in 2019.
The number of accumulated sales of electric cars and hydrogen fuel cell automobiles will also increase to 1.13 million and 200,000, respectively, by 2025.
It will mark a sharp growth from September last year, when the accumulated number of EVs on roads here reached 120,000 units, while those of hydrogen cars came up to around 9,500 units. – Bernama, January 26, 2021
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