Must-read 💥 Charging electric cars in Korea is cheaper than in Europe.

💥Must-read 💥 Charging electric cars in Korea is cheaper than in Europe. Rather, not running a Tesla car causes financial damage.

This is a comparison of the cost of charging an electric vehicle in European countries, showing the cost of 100 km of driving (€/100 km) when charging at a public DC charging station based on Tesla Model 3.

Comparison of EV Charging Costs in Europe

the cheapest country
Iceland: €2.9
Portugal: €3.2
Finland: €4.6

moderate cost
Germany: €8.9
France: €7.3
United Kingdom: €7.8

the most expensive country
Slovenia: €10.0
Norway: €18.9

Comparison with Korea

In South Korea, slow charging is set at around 290 won/kWh and fast charging at around 350-400 won/kWh. (Tesla Superchargers are priced at 339 won/kWh)
Assuming that Model 3 travels about 6 km per 1 kWh, about 16 to 17 kWh is required for 100 km.

100km driving cost in Korea
Approximately KRW 4,640 (€3.2) for slow charging
Approximately KRW 5,600 (€4.8) for fast charging

In view of this, charging for electric vehicles in Korea is similar to and relatively inexpensive to Portugal and Finland in Europe. Even with fast charging, it is cheaper than Germany and the UK, but slightly higher than in Eastern European countries.

Key Insights

1. Korea’s Competitive Charging Cost
   Korea can charge its electric cars at a relatively low cost compared to many European countries. This reflects the effects of EV penetration and government subsidy policies.
2. Why the penetration rate is high despite Norway’s high cost
   Norway has one of the world’s best EV penetration rates, but charging is very expensive. This suggests that charging is not a major obstacle due to high-income levels and government incentives to buy EVs.
3. Korea’s Slow vs Fast Charging Comparison
   South Korea’s slow charging costs are similar to those of Europe’s cheapest countries, but when fast charging, they are comparable to those of Europe’s mid-level countries.