SEOUL — Hyundai Motor Co. and Kia Corp., two of South Korea's automotive giants, announced on Sunday that their combined electric vehicle (EV) sales have crossed the 1.5 million mark, a milestone achieved 12 years after Hyundai introduced its first EV, the BlueOn.
According to Yonhap News Agency, this achievement underscores their growing influence in the global EV market.
The BlueOn, which is based on the i10 mini car, marked Hyundai's entry into the electric vehicle space in July 2011. Since then, Hyundai and Kia have expanded their EV offerings, with sales totaling 516,441 units in 2023 alone. This surge in sales brought their cumulative EV sales to 1.53 million units by the end of the year.
The data revealed that 80% of Hyundai and Kia's EV sales last year were in international markets, highlighting the global appeal of their electric vehicles. Leading the charge were Hyundai's Kona Electric and IONIQ 5, along with Kia's Niro and EV6, which have become best-sellers in their segments.
Despite a recent slowdown in EV sales, Hyundai and Kia are not resting on their laurels. Hyundai is set to launch an electrified version of the Casper mini car later this year, while Kia has plans to begin production of the EV3 compact model at its domestic plant in the second quarter.
Looking forward, Hyundai aims to sell 4.24 million vehicles in 2024, a slight increase from the 4.21 million vehicles sold last year. Kia, on the other hand, is targeting sales of 3.2 million units for 2024, which would represent a 3.6 percent increase from the 3.08 million vehicles sold in 2023. Together, Hyundai and Kia rank as the world's third-largest carmaker by sales, trailing only behind Toyota Motor Corp. and Volkswagen Group.