Seoul, October 13: Hyundai Motor and its affiliate Kia are expected to see their combined sales of electric vehicles (EVs) surpass 100,000 units this month, according to the companies’ data on Sunday. Hyundai and Kia sold a combined 91,348 units of EVs through September this year, up 30.3 percent from the same period last year, according to the companies.
Hyundai’s EV sales rose 4.5 per cent on-year to 48,297 units in the January-September period, while Kia saw its sales soar 80.3 per cent to 43,051 units, reports Yonhap news agency. Market watchers say combined EV sales of the two carmakers will likely hit 100,000 units in October and reach 120,000 units for the whole of this year. Kia has also completed building Hyundai Motor Group’s first manufacturing facility dedicated solely to electric vehicles, which boasts an annual capacity of producing 150,000 units. Hyundai Motor To Invest INR 32,000 Crore in India Over Next 10 Years, Give Pune Unit INR 6,000 Crore To Increase Capacity.
The automaker invested 401.6 billion won ($304.2 million) in the 60,000 square-meter facility, completely rebuilding it on an existing plant site to facilitate the company’s next-generation vehicle production. Mass production of the EV3, the brand’s compact all-electric SUV, began in the first half of this year. In the first half of 2025, Kia plans to introduce the EV4, the brand’s upcoming mid-sized electric sedan. Meanwhile, Hyundai Motor’s sales fell 3.7 per cent last month from a year earlier on weak overseas demand. Renault Labour Strike: French Automaker Reaches Wage Deal With Unions After Extended Strike by Workers in South Korea Unit.
Hyundai Motor sold 343,824 vehicles in September, down from 357,133 units a year earlier. Domestic sales rose 3.5 per cent to 55,805 units from 53,911 during the cited period, while overseas sales declined 5 per cent to 288,019 from 303,222. Hyundai said it will flexibly respond to changes in global markets by adjusting production and sales systems depending on local conditions. From January to September, its sales declined 1.6 percent to 3,075,861 autos from 3,127,036 during the same period last year.
(The above story first appeared on LatestLY on Oct 13, 2024 10:07 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
