Hyundai Kia Motors Doubled Electric Vehicle Exports Last Year
[Asia Economy Reporter Kiho Sung] Hyundai and Kia Motors' electric vehicle exports last year more than doubled compared to the previous year. Along with the strong performance of electric vehicles, overall eco-friendly vehicle exports also increased by double digits.
On the 3rd, Hyundai and Kia announced that last year's electric vehicle export volume (domestically produced, wholesale basis) recorded 63,414 units, a 128.1% increase compared to the previous year (27,798 units).
The companies' electric vehicle exports have been increasing significantly every year, from 9,255 units in 2016 to 14,799 units in 2017, and 27,798 units in 2018. As electric vehicle exports surged, the total number of eco-friendly vehicle exports also expanded. Last year, Hyundai and Kia's eco-friendly vehicle exports increased by 15.8% from 195,684 units in the previous year to 226,581 units. Eco-friendly vehicle exports have been on the rise since 2016, with 76,432 units in 2016, 171,892 units in 2017, and 195,684 units in 2018.
The expansion of eco-friendly vehicle exports is attributed to the introduction of competitive new models. Kia introduced the Soul EV to the global market for the first time in the first quarter of last year, and Hyundai newly added the Kona Hybrid as an export model in the second quarter.
Hyundai exports ▲Hybrid (HEV) Ioniq, Sonata, Kona ▲Plug-in Hybrid (PHEV) Ioniq, Sonata ▲Electric Vehicle (EV) Ioniq, Kona ▲Fuel Cell Electric Vehicle (FCEV) Nexo. Kia exports ▲HEV Niro, K5 ▲PHEV Niro, K5 ▲EV Niro, Soul.
Among the export models, the sales growth of Hyundai Kona Electric and Kia Niro EV and Niro HEV is particularly notable.
Hyundai and Kia expect eco-friendly vehicle exports, including electric vehicles, to continue showing double-digit growth in 2020.
Expansion of model lineups is also expected, with eco-friendly vehicles being launched for the first time in the mid-size SUV segment.
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A Hyundai and Kia official said, “The competitiveness of domestically produced eco-friendly vehicles is being recognized worldwide,” adding, “Exports are expected to expand significantly in 2020, especially in Europe and North America.”
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