South Korea wants to lead the world in the transition to eco-friendly cars. On Tuesday, the country announced ambitious plans that will increase the annual production of hybrid and electric-powered cars from 80,000 this year to 920,000 over the next five years. It will invest $127 million to help local carmakers like Hyundai improve the range of their battery-powered cars and to install hundreds of new electric charging stations around the nation. The energy ministry said the new policy would help the capital Seoul cut down carbon emissions by 3.8 million tons over the next five years.
South Korea unveils plans to surge green car production
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