The South Korean government is planning to double next year’s budget for subsidizing the purchase of hydrogen buses in an effort to expedite the establishment of a hydrogen ecosystem, a key energy source for the next generation, the PulseNews said.
According to the government and multiple industry sources on Wednesday, the Ministry of Environment has submitted a budget for hydrogen bus subsidies that is more than twice the level of this year to the Ministry of Economy and Finance.
This year, the Environment Ministry granted a subsidy of 162 billion won ($124.8 million) to 700 buses, including 400 city buses and 300 intercity buses.
The ministry plans to subsidize the purchase of 1,500 #hydrogen buses next year, more than twice as many as this year.
Accordingly, it has applied for a budget of more than 340 billion won. The government budget will be released for deliberation by the National Assembly before September.
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