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16 Jul 2019, Gergana Bencheva, EMIS Editor

South Korea’s exports of eco-friendly vehicles grow 33% per year since 2012

South Korea's exports of eco-friendly vehicles grew by an average of 33% per year since 2012, Yonhap News reported referring to data provided by the Korea Automobile Manufacturers Association (KAMA). The successful result was attributed to the growing overseas demand.

In 2018 alone, local carmakers exported 196,000 eco-friendly units while seven years earlier their count stood at 35,000 units. Also, last year, eco-friendly cars accounted for 8% of South Korea's overall vehicle exports.

According to KAMA, the global demand for such cars was boosted by increased subsidies and tax benefits. Furthermore, research firm IHS Markit’s forecast is that half of the vehicles sold in 2030 would be eco-friendly, Yonhap News noted.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Yonhap News

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