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Hyundai Motor Group ranks second in global EV market

Posted October. 17, 2019 07:29,   

Updated October. 17, 2019 07:29


Hyundai Motor Group ranked second in the global electric vehicle (EV) market. According to a report titled “Global Electric Vehicle Sales and Its Implications” by the Korea Automobile Manufacturers Association (KAMA) Wednesday, Hyundai Motor Group sold about 280,000 EVs in the global market last year, up 23.8% from the previous year. The South Korean auto company has overtaken Japanese carmakers such as Honda and Nissan to rank second in global EV sales since 2016. Toyota ranked first by selling 1.68 million EV, which is equivalent to a market share of 39.2%.

In particular, Hyundai Motor and Kia Motors saw their EV sales increase three folds to 120,000 compared to the previous year. This excludes the sales of hybrid vehicles that charge themselves when the brake pedal is applied. Hyundai’s Kona Electric and Kia’s Niro EV have led the automakers’ increase in sales.

The report released by the KAMA is based on the statistics compiled by Japan’s automotive research association Fourin. The report classified hybrid electric vehicles, plug-in hybrid electric vehicles (PHEV), battery electric vehicles (BEV), and fuel cell electric vehicles (FCEV) as EVs.

“Despite their narrow luxury EV lineup, Hyundai Motor Group will be able to increase its influence on market growth once it releases high-performance Genesis BEV, whose maximum range of over 500 kilometers, in 2021,” said a KAMA official.