Seoul. Hyundai Motor Group’s electric vehicle (EV) sales in the US exceeded 100,000 units last month, industry sources said on Monday. Hyundai Motor, its independent Genesis brand and Hyundai’s smaller subsidiary Kia Corp had sold a cumulative 104,326 EVs in the US market through the end of January, an industry official said.
After breaking into the world’s most important automobile market with the Kia Soul EV in 2014, the three brands achieved EV sales in the US of more than 100,000 units in eight years, reports Yonhap news agency.
Strong demand for the Hyundai IONIQ5, Kia EV6 and Genesis GV60 is expected to nearly triple the auto group’s EV sales in the US to 58,028 units in 2022 from 19,590 last year, he said. The Hyundai iONiQ5 and the Kia EV6 are equipped with the Korean automotive conglomerate’s EV-dedicated platform called e-GMP.
The three brands are aiming to sell a total of 131,000 EVs in 2023, more than double the 2022 sales, the official said. The group plans to launch the Hyundai IONIQ 6, Kia EV9 and Genesis GV70 all-electric models in the US this year.
Last month, the group said it would accelerate a comprehensive transition to EVs this year, as it aims to transform into the mobility solutions provider of the future. Group executive chairman Yusun Chung said the company will capture a major share of the global EV market and create a new growth driver in autonomous driving, future mobility and robotics in 2023.
The Covid-19 pandemic and the Inflation Reduction Act (IRA) are major concerns for the group’s sales in the US this year. Excludes EVs manufactured outside North America from the IRA tax credit. The new law is widely expected to jolt Hyundai and Kia, as they produce their EVs at domestic plants for export to the US.(IANS)
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