On April 17th, it was reported that in the wave of developing new energy vehicles such as electric cars, Hyundai Motor Group’s two major brands, Hyundai and Kia, are also making significant investments and have launched multiple models that are continuously being exported to other markets.
According to the latest data released by South Korea, due to strong demand, the export of electric vehicles in South Korea has also increased significantly, reaching 34,379 units in March this year, a year-on-year increase of 60.4%.
In addition to pure electric vehicles, the export of hybrid vehicles in South Korea in March was also considerable, reaching 31,262 units, a year-on-year increase of 109.7%, higher than that of electric vehicles.
Driven by the year-on-year increase in the export volume of electric vehicles and hybrid vehicles, the export volume of environmentally friendly vehicles in South Korea also increased significantly in March.
The latest data released by the South Korean Ministry of Trade, Industry and Energy shows that in March, a total of 71,781 environmentally friendly vehicles produced by them were exported, a year-on-year increase of 79.5%. The export value also increased by 94.7% year-on-year, reaching 2.27 billion US dollars, and both export volume and export value hit a new high.
Thanks to the strong demand for environmentally friendly vehicles, South Korea’s overall vehicle exports also increased significantly in March, with exports reaching 262,341 units, a year-on-year increase of 48%, the highest month since December 2016. The export value reached 6.52 billion US dollars, a year-on-year increase of 64.1%, also hitting a new high.
