Last Year One-Third, This Year Neck and Neck... Hyundai Motor and Kia Electric Cars Compete with Hybrids

Hyundai Motor Company and Kia's Eco-Friendly Vehicle Production and Sales Performance Last Month
Hyundai Hybrid and Electric Vehicles Each Approximately 15,000 Units
Increased Domestic and International Demand for Dedicated Electric Vehicles and Electric Vehicle Derivative Models

Kia EV6 GT Scheduled for Release This Year / Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Choi Dae-yeol] Among the eco-friendly vehicles produced and sold by Hyundai Motor Company and Kia both domestically and internationally, the proportions of hybrid cars and electric vehicles have become nearly equal.

Until early last year, hybrids outnumbered electric vehicles by about two to three times, but with the rapid increase in sales of dedicated electric vehicles, the numbers have evened out. Hyundai and Kia's eco-friendly vehicles include hybrids that combine internal combustion engines and motors, plug-in hybrids with a similar structure but capable of separate charging, pure electric vehicles powered solely by batteries, and hydrogen fuel cell vehicles.

According to sales data compiled by Lee Jae-il, a researcher at Eugene Investment & Securities, Hyundai produced 15,894 hybrid vehicles last month at its domestic and overseas factories. Electric vehicle production was 15,137 units. The hybrid figure is almost the same as in February last year, but electric vehicle production has more than tripled during the same period, making the volumes of the two types comparable. Additionally, 3,151 plug-in hybrids, which are not sold domestically, and 550 hydrogen vehicles were produced.

Hyundai Motor Company February Eco-friendly Vehicle Production Status

Kia shows a similar trend. Looking at retail sales of eco-friendly vehicles, hybrids accounted for 16,085 units last month, while electric vehicles were 14,893 units. While hybrid sales roughly doubled compared to last year, electric vehicle sales nearly tripled, narrowing the volume difference to just over 1,000 units. Considering the recent trend where vehicles produced at factories are sold directly to customers due to parts supply disruptions, Kia's eco-friendly vehicle production volume is estimated to follow a similar pattern to these sales figures.

Even among eco-friendly vehicles, this is a noticeable change given that hybrids had overwhelmingly dominated until now. This is attributed to the steady popularity of dedicated electric vehicles such as the Ioniq 5 and EV6, which were launched last year with electric vehicle platforms, as well as the continuous increase in demand for electric vehicles derived from models like the Porter.

The Hyundai electric vehicle Ioniq 6 concept car Prophecy was exhibited at the IAA Mobility 2021 event held in Germany last year.

Looking at Hyundai's domestic sales last month alone, electric vehicles numbered 7,413 units, surpassing hybrids at 4,069 units. Even considering that demand postponed due to the unresolved electric vehicle subsidies in January this year surged all at once last month, this represents a distinctly different pattern from the past. Hyundai and Kia's eco-friendly vehicles are produced domestically at the Ulsan and Asan plants, as well as Hwaseong and Gwangju plants, and overseas at factories in China, India, the Czech Republic, and Slovakia.

This trend is likely to continue. Dedicated electric vehicle sales have just begun in Europe and the United States, where demand for dedicated electric vehicles is high, and these vehicles are receiving favorable reviews locally. Infrastructure to expand electric vehicle adoption, such as charging facilities, is gradually improving, and the decision to exclude hybrid vehicles from low-emission vehicle categories in two to three years is also expected to have an impact. New electric vehicle models will continue to be released steadily.

This content was produced with the assistance of AI translation services.