Seoul to raise subsidy for hydrogen-powered buses from March
The government will raise its subsidy for hydrogen fuel-cell buses from 3,600 won ($2.51) per kilogram (2.2 pounds) of fuel to 5,000 won starting next month as part of efforts to boost the use of eco-friendly public transportation, the Ministry of Land, Infrastructure and Transport said Sunday.
The ministry has been offering subsidies for hydrogen fuel-cell buses since September 2021 in line with the 2030 Nationally Determined Contribution goal and its plan to substitute 25 percent of all metropolitan buses in the greater Seoul area with hydrogen-powered buses by 2030.
The bus industry has been slow to introduce hydrogen fuel-cell vehicles due to high fuel costs compared to electric buses, as well as the lack of hydrogen-charging and maintenance stations in the country.
The increase in the subsidy for hydrogen fuel is expected to cut operational costs by 22 percent and lower the yearly fuel cost to levels similar to electric buses, according to the ministry.
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Seoul to raise subsidy for hydrogen-powered buses from March, source
