Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Hyundai Motor Group Records 450,000 Electric Vehicle Sales in 2023

globalautonews Views  

Hyundai Motor’s battery electric vehicle (BEV) sales in 2023 were recorded at 268,785 units. Together with Kia’s 182,000 units, 451,000 units were sold. Hyundai’s Ioniq 5 and Ioniq 6 led the increase. It showed solid sales growth in key markets, including North America, Europe, and India.

Despite the increase in demand for electric vehicles, it warns of the uncertainty of the business environment. It may be affected by external factors such as interest rates. It predicted that risk factors such as the expansion of exchange rate volatility and cost increases due to intensified competition can cause uncertainty.

Hyundai Motor expects that BEV sales will continue to increase in 2024. Hyundai predicts that the BEV sold in 2024 will increase by about 12% from the previous year to about 300,000 units. Hyundai’s 2024 investment plan includes expanding production models, constructing a new BEV factory in Georgia, and developing future technologies. It announced that 99.9% of the groundwork for the BEV and battery factory in Georgia, worth $5.5 billion, was completed at the end of last October.

In 2023, the Hyundai Motor Group ranked second in the U.S. BEV market, beating Ford and GM and following Tesla. Hyundai is pursuing sales expansion by providing high incentives to Ioniq 5 and 6 models that can’t receive the IRA tax deduction.

Hyundai admits market slowdown but still expects BEV sales to continue to grow. Despite GM and Ford reducing or withdrawing their investment in BEV, Hyundai has accelerated facility construction.

Hyundai has set a goal to leap to one of the top three BEV manufacturers in the world by selling 18 new models and 2 million BEVs by 2030.

globalautonews
content@www.kangnamtimes.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • THIS is the Country Jensen Huang Thinks Will Lead the AI Revolution
  • Volkswagen Shutting Down German Plant for the First Time Ever—Big Layoffs Expected
  • Google's Tax Tricks: How They Pay Pennies on Billions in Korean Revenue
  • Here’s What It Said on North Korea’s Propaganda Leaflets that Dropped Near Presidential Office
  • Why Samsung’s Founder Said 'Burn Them All' to His Own Phones

Weekly Best Articles

  • New Electric Sedans and SUVs: Volvo Expands Its EV Lineup with Bold Designs
  • Tesla’s Full Self-Driving Tech for Model 3 and Y Set for 2025—Can It Overcome Safety Issues?
  • California Police Frustrated by Tesla Model 3: Too Cramped, Not Practical
  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • Kim Sejeong on Kiss Scene Prep: ‘It’s Like Laying the Foundation for a Building!’
  • Kim Tae Ri’s Character Faces Devastating Setback in ‘Jeongnyeon: The Star is Born’
  • Lee Seung Gi Goes Bald! Shocking Change for His Role in ‘About Family’
  • Man Who Sponsored $1.2M to Streamer Juice Se Yeon Says She Blocked Him After Scandals
  • BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later
  • Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features
  • Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles
  • Fiat’s ‘Ugliest Car’ Makes a Comeback with Hyundai’s Pixel Design Twist

You May Also Like

  • 1
    BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later

    ENTERTAINMENT 

  • 2
    Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features

    TECH 

  • 3
    Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles

    TECH 

  • 4
    Fiat’s 'Ugliest Car' Makes a Comeback with Hyundai’s Pixel Design Twist

    TECH 

  • 5
    Kim Nam Gil Spills Secrets About The Fiery Priest 2—Why Fans Should Be Excited

    ENTERTAINMENT 

Popular Now

  • 1
    BJ Juice Se Yeon Deletes ‘Suspicious’ Photo with Kim Haon—Fans Speculate Romance

    ENTERTAINMENT 

  • 2
    G-Dragon’s Secret Addiction? The K-pop Star Can’t Stop Watching Dating Shows

    ENTERTAINMENT 

  • 3
    Chef Triple Star Shows Up at Event Despite Explosive Cheating and Embezzlement Claims

    ENTERTAINMENT 

  • 4
    Jaehyun Joins the Military—Here’s What Happens to His Career While He’s Away

    ENTERTAINMENT 

  • 5
    BMW M3 to Feature 600 HP Mild Hybrid Powertrain—No Plug-in Hybrid Here!

    TECH 

Weekly Best Articles

  • New Electric Sedans and SUVs: Volvo Expands Its EV Lineup with Bold Designs
  • Tesla’s Full Self-Driving Tech for Model 3 and Y Set for 2025—Can It Overcome Safety Issues?
  • California Police Frustrated by Tesla Model 3: Too Cramped, Not Practical
  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • Kim Sejeong on Kiss Scene Prep: ‘It’s Like Laying the Foundation for a Building!’
  • Kim Tae Ri’s Character Faces Devastating Setback in ‘Jeongnyeon: The Star is Born’
  • Lee Seung Gi Goes Bald! Shocking Change for His Role in ‘About Family’
  • Man Who Sponsored $1.2M to Streamer Juice Se Yeon Says She Blocked Him After Scandals
  • BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later
  • Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features
  • Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles
  • Fiat’s ‘Ugliest Car’ Makes a Comeback with Hyundai’s Pixel Design Twist

Must-Reads

  • 1
    BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later

    ENTERTAINMENT 

  • 2
    Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features

    TECH 

  • 3
    Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles

    TECH 

  • 4
    Fiat’s 'Ugliest Car' Makes a Comeback with Hyundai’s Pixel Design Twist

    TECH 

  • 5
    Kim Nam Gil Spills Secrets About The Fiery Priest 2—Why Fans Should Be Excited

    ENTERTAINMENT 

Popular Now

  • 1
    BJ Juice Se Yeon Deletes ‘Suspicious’ Photo with Kim Haon—Fans Speculate Romance

    ENTERTAINMENT 

  • 2
    G-Dragon’s Secret Addiction? The K-pop Star Can’t Stop Watching Dating Shows

    ENTERTAINMENT 

  • 3
    Chef Triple Star Shows Up at Event Despite Explosive Cheating and Embezzlement Claims

    ENTERTAINMENT 

  • 4
    Jaehyun Joins the Military—Here’s What Happens to His Career While He’s Away

    ENTERTAINMENT 

  • 5
    BMW M3 to Feature 600 HP Mild Hybrid Powertrain—No Plug-in Hybrid Here!

    TECH 

Share it on...