Renault Samsung offers W6 mil. discount for SM3 EV

The Renault Samsung SM3 Z.E. / Courtesy of Renault Samsung

By Nam Hyun-woo

Renault Samsung will provide a discount of 6 million won ($4,870) for customers purchasing its SM3 Z.E. electric vehicle (EV), according to the carmaker, Monday.

The SM3 Z.E. is priced between 37 million won and 39 million won depending on the option. When the company's 6 million won subsidy is added to the government subsidy of 6.16 million won, the price will drop dramatically by 12.16 million won.

Since the EV is also eligible for subsidies from municipal governments, the actual prices will go down even further. For example, Seoul Metropolitan Government provides a 4.5 million won subsidy for the SM3 Z.E. ― thus the final price for the SE version stands at 20.34 million won and the RE version at 22.34 million won.

Renault Samsung said the discount came amid growing EV sales and subsequent declines in subsidies.

The number of EVs registered in February stood at 1,209, up 48.7 percent, triggering central and municipal governments to cut subsidies. The maximum subsidy from the Ministry of Environment on EVs this year is 8.2 million won, down 800,000 won from a year earlier.

As subsidies decline, carmakers including Renault Samsung are launching their own discounts to keep customers' interest on their EVs.

The SM3 Z.E. is a compact sedan which can drive 213 kilometers on a full charge. According to the Korea Transportation Safety Authority, the daily mileage of passenger vehicles in Korea averaged to 40 kilometers, meaning a fully charged SM3 Z.E. covers approximately five days.

The vehicle takes an hour for rapid charging to 80 percent and seven hours for slow charging to 100 percent.

The SM3 Z.E. hosts a pack of upgraded design features in and outside the vehicle, along with an eight-inch smart connect touch screen displaying information on battery status, nearby charging stations and other trip data.

Renault Samsung offers a warranty of 8 years or 160,000 kilometers on the SM3 Z.E., up from seven years and 140,000 kilometers.

Also, maintenance and repair services for the EV are available at 60 percent of all Renault Samsung after sales service centers across the country, the company said.

To enhance its EV service network, the company said it is launching five education programs for technicians and mechanics, and more than 70 engineers are winning their EV repair license every year. Currently, more than 300 mechanics specialized in EV are working at Renault Samsung service centers across Korea.

"For customers looking for reasonable EVs, carmakers are striving to provide various options, and the SM3 Z.E. is standing out as one of the best options," a Renault Samsung official said. "Along with its price, the vehicle offers the comfortable experience of a sedan."

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