Hyundai Motor moves up to No. 4 in global EV market last year

Hyundai Motor"s Kona Electric. [Photo provided by Hyundai Motor Co.]

Hyundai Motor Group’s share in global EV market jumped to No. 4 as its near 60 percent on-year growth exceeded worldwide sales expansion of 45 percent in EVs last year.

According to data released by the Korean Automobile Manufacturers Association on Thursday, a total of 2,943,172 units of electricity-powered vehicles were sold across the global last year, up 44.6 percent from 2,034,886 units a year earlier.

Battery electric vehicles sold 2.02 million units (up 34.7 percent), plug-in hybrids 0.9 million units (up 73.6 percent), and hydrogen fuel-cell vehicles 8,200 units (up 9.3 percent).

Among all vehicles sold last year, electrified vehicles took up a 3.6 percent share after gaining 1.4 percentage points on year.

Tesla stayed at the top after selling 442,000 units, up from 304,000 units. Volkswagen Group came second with 381,000 units, more than tripling from 123,000 units. GM saw a 134.1 percent increase in sales at 222,000 units thanks to strong demand for Hongguang Mini released by its Chinese joint-venture.

Hyundai Motor Group sold 198,000 units, adding 59.9 percent on year, and moved up three notches to the fourth.

Growth in the European and Chinese markets drove the overall increase. EV sales in Europe more than doubled to 1.29 million units, taking up 43.9 percent of the total sales across the globe.

China was the biggest market for a single country where 1.2 million cars were sold last year. Korea ranked ninth with sales of 61,000 units.

Germany, France and Italy saw three-digit growth in sales on the back of generous government subsidy on the green car buyers, which was expanded by 1,000-4,000 euros ($1,192.70-4,770.80) in a year.

“To raise the competitiveness of electrified cars, various incentives are required such as larger subsidies and more charging facilities,” said Jeong Marn-ki, President & CEO of KAMA.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]