Seoul, South Korea] – Hyundai Motor Company and Kia Corporation, South Korea’s leading automakers, have announced a record-breaking year for their electric vehicle (EV) exports. Despite a temporary slowdown in global EV demand, the companies managed to increase their overall EV shipments by 3% to 707,853 units in 2024.
The surge in hybrid electric vehicle (HEV) sales was a key driver of this growth, with shipments rising by more than 120,000 units year-on-year. The companies attributed this success to a strategic shift in their product lineup, focusing on expanding their hybrid offerings to meet evolving consumer preferences.
"We are thrilled to announce this significant milestone in our EV journey," said [Name], [Title] at Hyundai Motor Company. "By adapting to the changing market dynamics and expanding our hybrid lineup, we have been able to maintain our momentum and achieve record-breaking export numbers."
The Hyundai Tucson Hybrid emerged as the top-selling EV model, with over 93,547 units exported. Other popular models included the Hyundai Kona Hybrid, Kia Niro Hybrid, and Hyundai Ioniq 5.
To support this growth, Hyundai and Kia have been investing heavily in research and development, manufacturing capabilities, and charging infrastructure. The companies have also been actively promoting their EVs in key markets worldwide.
The strong performance of Hyundai and Kia's EVs has contributed significantly to the overall health of the South Korean automotive industry. In 2024, the combined exports of Hyundai and Kia reached 2,186,98 units, generating revenues of $53.36 billion.
Looking ahead, Hyundai and Kia are committed to further strengthening their position in the global EV market. The companies plan to introduce a range of new EV models in the coming years, as well as expand their battery production capacity.
[Copyright (c) Global Economic Times. All Rights Reserved.]
