Accumulated number of EVs registered in Korea exceeds 500,000

IONIQ5. Courtesy of Hyundai Motor Company

The accumulated number of electric vehicles registered in Korea exceeded 500,000 cars last year. The most registered electric vehicle was Hyundai’s Ioniq 5.

According to the Korea Automobile & Mobility Association (KAMA), the Ministry of Land, Infrastructure, and Transport on April 2, the accumulated number of EVs registered from 2017, when statistics on EVs began to be officially collected, to last year was 543,900, up 39.5 percent from 389,855 in 2022.

The accumulated number of EVs stood at 134,962 in 2020, showing growth of about 100,000 cars or more every year after exceeding 100,000 cars for the first time. However, the growth rate of EVs last year decreased by 29 percentage points compared to 68.5 percent in 2022.

The number of electric chargers in Korea followed a similar trend to that of EVs.

By last year, the number of electric chargers exceeded 300,000 for the first time, reaching 305,309 units. In detail, 279,923 slow-speed chargers and 34,386 fast chargers were installed.

Last year, the number of chargers supplied increased by 48.8 percent compared to 205,205 units in 2022. However, the growth rate of chargers decreased by 43.5 percentage points from 92.3 percent in the previous year.

As the number of charging facilities continues to increase, the "vehicle charging ratio," which means the number of EVs per charger, gradually decreases. Except for 2017, when only 25,000 EVs were registered in Korea, the ratio has been around 2 EVs per charger since 2018, followed by 1.90 in 2022 and 1.78 last year.

In addition, Hyundai’s Ioniq 5 was the most registered EV in Korea with 70,756 units. The average battery capacity of seven models of the Ioniq model was 71.89 kWh.

※This article has undergone review by a professional translator after being translated by an AI translation tool.