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Electric vehicle market in South Korea

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“Hyundai Motor’s decision to build a new electric vehicle factory in South Korea as part of a tentative deal with its strike-threatening labor union was welcomed by investors, analysts, and local media on Wednesday, as the automaker aims to lead the global EV market.” NIKKEI Asia.

“it would break ground on the factory next year, with plans to start mass production of EVs in 2025. Other details, including the location of the plant and its production capacity, had yet to be determined.” Hyundai

“We will be able to respond to the global EV market preemptively with the first EV-only factory in the country, following a plan announced in May to build an EV plant in Georgia, [in] the U.S.,” Hyundai said in a statement on reaching the deal. “With the agreement, we will make our biggest investment in the country by establishing a new factory for the first time in 29 years since the completion of the Asan factory in 1996.”

In another report by the Korea herald, “South Korea had 298,633 EV registrations as of June. Industry insiders expect this number to have exceeded 300,000 last month.” In July, the number of electric vehicles in South Korea surpassed the total number of 300,000.

The market share for E-bikes in South Korea:

As per Danawa, 12% are willing to use 8 inches wheel E-scooter and 68% are willing to use 10 inches E-Scooter.

The top 10 electric cars from South Korea, ( automotive territory)

  • Genesis GV60
  • Kia Niro EV
  • Hyundai Ioniq 5
  • Genesis G80 Electrified
  • Kia EV6
  • Hyundai Ioniq 7
  • Genesis GV70 Electrified
  • Kia EV9
  • Hyundai Kona Electric
  • Genesis X Speedium Coupe
  • Hyundai Ioniq 6

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