The cumulative sales volume of electric vehicles from Hyundai Motor Company and Kia in the domestic market has surpassed 500,000 units. This milestone comes 14 years after Hyundai launched the BlueOn, the first mass-produced electric vehicle in the country, in July 2011.
According to Hyundai Motor Group on the 6th, the cumulative sales of electric vehicles from Hyundai Motor Company, Kia, and Genesis reached 500,236 units by March. Hyundai sold 291,608 units, including Genesis, while Kia recorded 210,428 units.
The annual combined sales volume of Hyundai Motor Company and Kia reached a record high of 119,791 units in 2022. In 2023, the sales exceeded 100,000 units for the second consecutive year with 111,911 units. However, last year, the electric vehicle chasm led to a decline with only 85,203 units sold.
In the first quarter of this year, early confirmation of electric vehicle subsidies led to a 75% increase year-over-year, recording 23,159 units.
Sales of electric vehicles from Hyundai Motor Company and Kia increased rapidly following the launch of models equipped with the E-GMP, an electric vehicle dedicated platform, in 2021. Among the models, the Hyundai Ioniq 5 led with sales of 83,555 units, while the Kia EV6 ranked second with 64,491 units sold. The Hyundai Ioniq 6 (26,446 units) and Kia EV3 (18,569 units) followed.
This year, Hyundai Motor Company launched the large electric vehicle sports utility vehicle (SUV) Ioniq 9, while Kia introduced its first electric sedan, the EV4. Additionally, sales of the partially modified Ioniq 6 and Kia's first purpose-built vehicle (PBV), the PV5, are set to begin in the domestic market.