Hyundai Motor and its affiliate Kia announced that their combined electric vehicle (EV) sales surpassed 1.5 million units as of December, marking a significant milestone in their EV journey. The achievement comes 12 years after Hyundai introduced its first EV model, the BlueOn, based on the i10 mini car, in the domestic market in July 2011.
In 2023 alone, Hyundai and Kia sold 516,441 EVs, bringing their cumulative EV sales to 1.53 million units by the end of the year. Notably, eight out of 10 Hyundai and Kia EVs were sold overseas in 2023, indicating the global demand for their electric vehicles. Among the best-selling models were Hyundai's Kona Electric and IONIQ 5, as well as Kia's Niro and EV6.
Despite a slowdown in EV sales, both Hyundai and Kia have ambitious plans for the electric market. Hyundai intends to launch the electrified version of the Casper mini car later in the year, while Kia plans to commence production of the EV3 compact EV model at its domestic plant in the second quarter.
Looking ahead, Hyundai aims to sell 4.24 million autos in 2024, a slight increase from the 4.21 million units sold in the previous year. Kia also targets growth, aiming to sell 3.2 million units, reflecting a 3.6% increase from the 3.08 million units sold in 2023.
Together, Hyundai and Kia constitute the world's third-largest carmaker by sales, trailing behind Toyota Motor Corp. and Volkswagen Group. Their commitment to electric mobility reflects the broader industry trend towards sustainable transportation solutions.
(With Agency Inputs)
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