IN BRIEF: Costa Rica, Korea ink electric vehicle deal

Monday, October 17, 2016

Costa Rica's state power company ICE and the Korea Advanced Institute of Science and Technology signed an MOU to launch an electric vehicle infrastructure pilot project.

Under the one-year deal, which was signed during President Luis Guillermo Solís' visit to South Korea, the Asian nation will donate three charging stations which Posco ICT will supply, Costa Rica's government said in a statement.

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The initiative is part of ICE's smart grid push and falls under Costa Rica's national energy plan, ICE power manager Luis Pacheco said.

"As the outlook for the introduction of EVs becomes clearer (mainly in terms of cost reductions and market penetrations), LA countries may evaluate the need to implement more aggressive support measures such as financial or non-financial incentives and investment in public charging infrastructure," according to the IDB report The incorporation of electric cars in Latin America.