Seoulites to be offered half-price hydrogen vehicles

A hydrogen-powered vehicle stops by a fueling station in Yeongdeungpo District, western Seoul, on Nov. 26, 2023. [YONHAP]

The Seoul Metropolitan Government announced on Monday that it will subsidize almost half the price of a hydrogen vehicle as part of its plan to reach carbon neutrality by 2050.

The city government will subsidize 32.5 million won ($24,000) to purchasers of Hyundai Motor’s hydrogen-powered SUV Nexo.

The price of the vehicle begins at 69.5 million won after receiving tax benefits, according to Hyundai Motor.

Additionally, purchasers will be exempted from taxes up to as high as 6.6 million won, 50 percent discounts on public parking lot fees and highway tolls, as well as alleviation of tolls at Namsan Tunnels.

Applicants will need to have resided in Seoul or registered businesses in the capital 30 days before the application submission day. The vehicles will need to be delivered within two months of the purchase date.

Individuals are eligible to apply for benefits for a single vehicle, whereas businesses can apply for benefits for up to 20 vehicles.

Residents can apply for the scheme from Tuesday through Dec. 6, until the allocated budget runs out.

The city plans to spend around 16.6 billion won this year to supply 102 hydrogen-powered cars and 42 hydrogen buses.

According to the city government, it has subsidized the purchase of 3,208 hydrogen-powered passenger vehicles from 2016 to 2023. The city aims to expand the implementation of such vehicles, aiming to convert some 1,300 city buses, including 300 airport limousine buses, to hydrogen-powered ones by 2026.

The aim is to transition all airport buses to hydrogen-fueled vehicles by 2030.

According to the city government, there were 3,110 hydrogen-powered passenger vehicles in the capital as of December.

The city also plans to add five more hydrogen fueling stations by 2026. The capital currently has 10 fueling stations, capable of charging over 6,000 vehicles.

“The city will expand the supply of eco-friendly hydrogen vehicles to reach carbon neutrality by 2050 and increase charging stations for drivers of the vehicles,” said Jeong Sam-mo, director of the city government’s eco-friendly vehicle division.

Last year, the Seoul city government signed an MOU with four institutes, including the Ministry of Environment and Hyundai Motor, to transform the capital into a city with more hydrogen mobility.

BY CHO JUNG-WOO [cho.jungwoo1@joongang.co.kr]