Hyundai, Kia clean energy vehicle exports hit record high in 2024

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Hyundai, Kia clean energy vehicle exports hit record high in 2024

Audio report: written by reporters, read by AI


Hyundai Motor vehicles for export wait at a dock in Ulsan. [HYUNDAI MOTOR]

Hyundai Motor vehicles for export wait at a dock in Ulsan. [HYUNDAI MOTOR]

 
Exports of Hyundai Motor and Kia’s environmentally friendly vehicles hit a fresh high last year, largely helped by their hybrid cars coming into vogue in global markets. 
 
The Korean automakers said Tuesday that they'd exported a total of 707,853 environmentally friendly vehicles, including pure EVs, hybrids and hydrogen-powered automobiles, up 3 percent compared to 2023, marking an all-time high since their establishment and a 160 percent increase from 2022.
 

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Clean cars made up 32 percent of their total auto exports compared to 17 percent in 2022.
 
Hybrid vehicles fostered growth while demand for all-electric cars slumped in global markets. Hybrid car exports jumped 44.6 percent to 397,200 units, and of total exports, they accounted for 56.1 percent.
 
Tucson hybrid SUVs were the best-seller in the export category with a total of 93,546 units sold. Kona hybrid SUVs ranked second with 70,353 units exported followed by Niro hybrid’s 69,545.
 
Hyundai Motor Group Executive Chair Euisun Chung, center, and executives take a photo during a New Year's event at Hyundai Motorstudio Goyang in Goyang, Gyeonggi, on Jan. 6. [YONHAP]

Hyundai Motor Group Executive Chair Euisun Chung, center, and executives take a photo during a New Year's event at Hyundai Motorstudio Goyang in Goyang, Gyeonggi, on Jan. 6. [YONHAP]

 
Hyundai and Kia’s overall auto exports, including EVs and internal combustion engine vehicles, recorded 2.19 million units last year, valued at $53.36 billion.
 
That made up 75.4 percent of Korea’s total auto exports in 2024 and 7.8 percent of its overall exports, according to Hyundai.
 
By type of car, SUVs accounted for more than half of total car exports. Led by Kona, Tucson and Sportage, a total of 1.5 million SUVs were exported, around 69.1 percent of overall auto exports.
 
North America was their biggest market, as some 55.6 percent of their exports came from the region. Roughly 18.7 percent of exports were made to Europe with 9.1 percent to Asia Pacific regions.
 
The two carmakers' accumulated car exports had reached 56 million as of the end of last year since 1975, when Kia first began selling cars overseas.
 
Since 1976, when five Pony sedans were exported to Ecuador, marking Hyundai’s first export, the carmaker has sold a total of 32.1 million cars overseas. Kia has exported more than 24.1 million vehicles since 1975, when it sold 10 Brisa pickup trucks to Qatar.
 
A Tucson SUV is produced at Hyundai Motor's manufacturing plant in the Czech Republic. [HYUNDAI MOTOR]

A Tucson SUV is produced at Hyundai Motor's manufacturing plant in the Czech Republic. [HYUNDAI MOTOR]

 
Hyundai Motor Group, last week, announced that it would invest a record 24.3 trillion won ($16.6 billion) in Korea this year alone, with nearly half for the research and development (R & D) sector to advance the domestic mobility industry.
 
Hyundai Motor plans to offer 21 EV models by 2030, including the highly anticipated Ioniq 9, while Kia aims to launch 15 models, including purpose-built vehicles, by 2027.
 
“Even in the ongoing tough business environment, Hyundai and Kia are able to break a record in eco-friendly car exports,” said the automakers in a statement. “We will endeavor to contribute to boosting economic revitalization through strengthening the competitiveness of products and brands, extending the flexibility of production and sales and expanding domestic investment.” 
 

BY SARAH CHEA [[email protected]]
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