June 10, 2020 08:40
The coronavirus epidemic may have dealt a blow to sales of conventional cars, but Hyundai and its affiliate Kia have seen major growth this year in exports of electric vehicles.
In the first five months of this year, the carmakers shipped more than 40,000 EVs in total, an increase of almost 58 percent on-year. In May alone, exports more than doubled to 11,000 EVs compared to a year earlier, while in money terms, they were up 69 percent to almost US$400 million.
The increase was largely due to brisk sales of Hyundai's Kona and Kia's Niro.
The electric vehicles are being shipped mainly to Europe, as demand there has risen due to the EU's strengthened environmental regulations and incentives to buy the vehicles.
- Copyright © Chosunilbo & Chosun.com