By Lee Hae-rinSeoul residents will be able to buy Hyundai Motor's hydrogen-powered SUV Nexo at half the price, as the city government plans to offer a 32.5 million won ($24,000) subsidy as part of its efforts to achieve carbon neutrality by 2050.
The Seoul Metropolitan Government said Monday that it will begin receiving subsidy applications Tuesday for people wanting to purchase the vehicle.
Those who have lived or have a business or organization registered in Seoul for over 30 days as of the day of the application are eligible for the subsidy.
Individuals can receive the subsidy for up to one vehicle, while businesses, corporations and organizations can apply for a maximum of 20 cars.
Apart from the subsidy, those who buy hydrogen-powered vehicles will enjoy a tax exemption of up to 6.6 million won, 50-percent discounts at public parking lots and expressways and a congestion fee exemption at Namsan Tunnel.
The subsidy is part of the city's 16.6 billion-won project to introduce 102 cars and 42 buses fueled by hydrogen this year.
Currently, the city has 10 charging stations with 14 chargers capable of supplying power to 6,120 vehicles.
Although the figure is enough to cover registered hydrogen-fueled vehicles in the capital, which add up to 3,110 as of last December, the city government plans to build more stations according to the increase in the number of hydrogen-powered vehicles.
The city government provided subsidies for 3,208 hydrogen-fueled vehicles between 2016 and last year.
By 2026, it plans to replace some 1,300 buses, including 300 airport limousines, with hydrogen-powered vehicles.