Monday, 25 June 2018

Gov’t to spend $2.3B on hydrogen cell vehicles

Source: Korea Joongang Daily, 26th June 2018, by CHOI HYUNG-JO

CHOI HYUNG-JO reported, "To shift away from traditional fossil-fuel vehicles and ultimately reduce pollution, the Korean government will spend 2.6 trillion won ($2.34 billion) over the next four years to promote fuel-cell electrical vehicles (FCEV), the industry minister said on Monday. “Despite the vast potential, we have not had a policy framework that encompasses the entire ecosystem of hydrogen vehicles,” said Paik Un-gyu, the minister for trade, industry and energy, during a meeting with representatives of local auto and energy companies on Monday in Seoul. “The government will provide all the support necessary for Korean companies to not fall behind and create an ecosystem covering hydrogen vehicle [production], charging stations and hydrogen energy [development].

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