FKI Warns Of EV Export Risk from China
An analysis has shown that if the trend of expanding exports of Chinese electric vehicles continues, about 2.2 trillion won (aboiut $1.64 billion) of South Korea’s electric vehicle exports in 2030 could be eroded due to intensifying competition. The Federation of Korean Industries suggested that tax
The Federation of Korean Industries (FKI) has issued a warning regarding the potential loss of South Korean electric vehicle exports due to intensifying competition from China. According to the FKI's analysis titled 'Current Status and Implications of South Korean Electric Vehicle Exports and Competitiveness,' the country's electric vehicle exports could be reduced by approximately $1.64 billion, or 2.2 trillion won, by 2030 if China's exports continue to expand.
The FKI emphasizes the need for tax support and other measures to strengthen the domestic electric vehicle production base. The analysis focuses on the impact of the rising export share of Chinese electric vehicles on South Korea's market position.
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