SK On Introduces Radical Support Measures to Expand Electric Vehicle Demand

SK On has launched bold support measures to overcome the temporary demand stagnation phenomenon in the electric vehicle market known as the 'Chasm'.

For its employees, the company has significantly increased the purchase support for the Hyundai Ioniq 9 from 10 million won to 15 million won.

According to industry reports on the 29th, SK On has recently implemented a special subsidy program that provides 20% support on the vehicle price for employees purchasing Hyundai's large SUV electric vehicle, the Ioniq 9. This benefit will be in effect temporarily until September.

Since June of last year, SK On has been encouraging the purchase of electric vehicles from Hyundai and Kia that are equipped with its batteries. Previously, the company offered 15% support (up to 10 million won) for the purchase of Hyundai Ioniq 5, Genesis G80 electrified models, Kia EV6, etc., but this time it has significantly expanded the support ratio and amount specifically for the Ioniq 9 on a temporary basis.

Massive price benefits to relieve the burden of electric vehicle purchases

So far, approximately 189 employees, about 5% of SK On's workforce, have received purchase support benefits. When combined with manufacturer discounts and government and local government subsidies, the actual purchase price can benefit from nearly 30% off.

For example, the Ioniq 9, currently priced at 76.6 million won in Seosan, can be purchased for 70.49 million won after applying the national subsidy (2.77 million won) and local government subsidy (3.34 million won).

Adding SK On's support of 15 million won and a manufacturer discount of 1 million won, the actual purchase price can be reduced to 54.49 million won.

Through this measure, SK On expects to achieve two effects simultaneously: the expansion of domestic electric vehicle distribution and the generation of environmental results.

All current executives at SK On are either using electric vehicles for company cars or plan to switch to electric vehicles by the end of October at the latest.

Vice Chairman Yu Jeong-jun is using the Kia EV9, President Lee Seok-hee is using the Ioniq 9, and other executives are utilizing various electric vehicles such as the Genesis G80 electrified model, Ioniq 9, and Genesis GV70 electrified model for their company cars.

Electric Vehicle Purchasing Movement Expanding Across SK Group

The exceptional electric vehicle purchase support policy from SK On is likely to expand across the SK Group.

SK Innovation, the parent company of SK On, is recently replacing company vehicles with electric vehicles such as the Ioniq 9 and the G80 electrified model, focusing on new executives and those whose vehicle replacement period is due.

The SK Group operates an electric vehicle value chain centered around various member companies such as SK IE Technology and SK Nexilis, and the expansion of electric vehicle purchases at the group level is expected to further strengthen the synergy between the battery industry and the electric vehicle industry.

Image source: Ioniq 9 / Hyundai Motor Company, SK Battery America Georgia Plant / SK On, materials photo for article understanding / gettyimagesbank