Starting Next Year, Electric Vehicle Production in the US
Ioniq 5 and Others Listed as Production Candidates
Genesis GV70 Launch Preparations
Plan to Secure Market with Electric SUV Reveal
[Asia Economy Reporter Ki-min Lee] Hyundai Motor and Kia, which have surpassed 100,000 electric vehicle (EV) sales in Europe?the home base of major automakers?for the first time this year, are accelerating their global EV sales. Confirming that Chairman Chung Eui-sun's carbon neutrality and eco-friendly vehicle sales strategy is effective in key automotive markets, Hyundai and Kia plan to boost EV sales in major markets such as the United States and China.
According to the automotive industry on the 17th, Hyundai is expected to begin full-scale EV production in the United States starting next year. Hyundai is reportedly set to produce EVs at its Alabama plant as early as the first half of next year. Candidates for production currently include the electrified Genesis GV70 model and the Ioniq 5. Hyundai is also expanding its EV market in China by preparing to launch the electrified Genesis GV70 model.
Hyundai Motor Group has already significantly increased sales in the European EV market. According to Hyundai and Kia's IR sites, the total number of EVs sold locally in Europe by Hyundai and Kia from January to October this year reached 104,883 units, a 41.9% increase from 73,911 units during the same period last year. This is the first time annual EV sales in Europe have exceeded 100,000 units. Last year, Hyundai and Kia sold 95,917 EVs in Europe, but this year they surpassed 100,000 units in just 10 months. Hyundai sold 56,637 units, a 33.1% increase from 42,563 units last year, while Kia sold 48,246 units, up 53.9% from 31,348 units last year.
This performance is seen as a synergy between Chairman Chung’s carbon neutrality and eco-friendly vehicle strategy and Europe’s policies to phase out internal combustion engines. This year, Hyundai Motor Group announced plans to stop selling internal combustion engine vehicles by 2045 and to sell only eco-friendly vehicles for its luxury brand Genesis starting in 2025, earning recognition for leading the electrification era locally.
By model, the Kona EV and Niro EV drove the sales performance. The Kona EV sold 36,849 units, a 9.7% increase from last year, and the Niro EV sold 38,930 units, up 58.3%. Existing EV models such as the Ioniq EV (7,569 units) and Soul EV (6,885 units) also sold well. In the United States, known as the world’s largest automotive market, steady EV sales have been recorded. Hyundai’s Kona EV and Ioniq EV sold 8,573 and 6,931 units respectively during the same period, while Kia’s Niro EV and Soul EV sold 6,931 and 18 units respectively.
The industry expects Hyundai and Kia’s EV sales to increase sharply starting next year. This is because dedicated EVs such as Hyundai’s Ioniq 5, Kia’s EV6, and Genesis GV60 will be fully launched in major overseas markets including the U.S. and China. The Ioniq 5 has already performed well, selling 19,250 units domestically and 28,017 units overseas since its release this year. The EV6 also sold 7,326 units domestically and 11,742 units overseas. Although the recently launched Genesis GV60 sold only 47 units domestically and 21 units overseas, it is attracting global attention with a waiting period of about one year. In particular, the Ioniq 5 sold 12,219 units and the EV6 sold 2,431 units in Europe, proving their popularity.
Additionally, Hyundai and Kia plan to unveil electric sport utility vehicles (SUVs) locally to secure their position in the EV market. As part of this effort, Hyundai and Kia will showcase the concept cars of the Ioniq 7 and Kia EV9 at the LA Auto Show on the 19th (local time) this month.
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