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HSHI Becomes the First Shipbuilder to Join K-EV100 Initiative

Hyundai Samho Heavy Industries (HSHI) announced that it joined K-EV100, a government-led initiative in Korea that requires the company to purchase or own eco-friendly cars.

HSHI plans to replace its vehicles or rental cars to electronic vehicles (EV) or hydrogen cars by 2030. It successfully received the letter of approval from the government as a member of K-EV100, which requires the company to make a public commitment to use zero-emission vehicles. The approved company may preemptively get a subsidy from the government to purchase eco-friendly cars and build charging stations.

According to the plan, HSHI will eventually replace 117 cars and build 20 destination chargers in the company. The company starts the EV transition of some of its cars, and also plans to provide free EV charging services for the shipowners' superintendents working within the yard. The transition to zero-emission cars will be phased in for the following years, fulfilling 32% of replacement by 2025, 70% by 2028, and 100% by 2030.

An official from HSHI said, "By joining K-EV100 initiative, we will align ourselves with the government's move to reduce carbon emission. It is also a good opportunity to promote our ESG management to the stakeholders."