April 17, 2024

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[THE INVESTOR] EV sales of Hyundai Motor and Kia Motors  -- which make up Hyundai Motor Group -- doubled last year, becoming the third largest EV seller worldwide, industry data showed on July 7. 

Hyundai and Kia sold a combined 12,992 units of electric vehicles in the global market, up 50 percent from 2015 when it sold 8,561 units, according to data released by market research firm IHS. 

Hyundai Motor Ioniq EV

The Korean auto conglomerate ranked third among 12 major global manufacturers that sell more than 2 million units annually. The Renault-Nissan Alliance, including Mitsubish, topped the EV chart with selling 78,000 units last year, followed by Volkswagen Group with 13,000 units. German luxury carmaker BMW closely took the fourth place with 12,713 units sold, with its i3 compact EV. 

This year, Hyundai and Kia hope to reach the 20,000 milestone, by focusing on Kia’s Soul and Hyundai’s Ioniq. Due to its belated arrival in the EV market, Hyundai Motor Group has been speeding up developing electric vehicles to target the mass. Hyundai said it is planning to roll out the electric version of latest Kona compact SUV next year, capable of running 390 kilometers on a single charge. 

Overall, Toyota took the undisputed No.1 title of all eco-friendly cars, which include hybrid vehicles. It sold 1.23 million units last year. Its Japanese rival Honda trailed far behind with 198,000 units sold, followed by Renault-Nissan, with 119,000 units. Hyundai-Kia ranked fourth with 88,000 units. 

By Ahn Sung-mi (sahn@heraldcorp.com)