According to Yonhap News Agency, the Korea Automobile and Mobility Industry Association (KAMA) statistics showed that the export volume of new energy vehicles from January to November was 662,307 units, compared with 499,854 units in the same period last year, a year-on-year increase of 32.5%.
South Korea’s monthly export volume of new energy vehicles has remained at 50,000-60,000 vehicles this year, and the annual export volume is expected to exceed 700,000 vehicles.
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South Korea’s new energy vehicle exports have grown steadily, reaching 271,000 vehicles in 2020, 405,000 vehicles in 2021, and 555,000 vehicles in 2022.
As hybrid vehicles continue to gain popularity in overseas markets, new energy vehicle exports have been boosted by significantly expanded lineups of electric vehicles such as Hyundai Motor Co.’s IONIQ 5, IONIQ 6 and Kona and Kia’s EV6, Niro and Soul.
It is noted that from January to November this year, South Korea sold the most pure electric vehicles overseas, reaching 316,654 units; followed by 283,685 hybrid vehicles, 61,694 plug-in hybrid vehicles and 274 hydrogen electric vehicles.
Exports of hybrid vehicles increased by 6.5% year-on-year, exports of pure electric vehicles increased by 65.7%, but hydrogen-powered vehicles experienced a 30.8% decline.
