Hyundai Motor Co. and Kia Corp. have surpassed a combined 500,000 electric vehicle sales in South Korea, reaching the milestone nearly 14 years after Hyundai launched the country’s first mass-produced EV.
According to Hyundai Motor Group, cumulative domestic EV sales for Hyundai, Kia and its luxury brand Genesis totaled 502,036 units as of the end of March. Hyundai, including Genesis, accounted for 291,608 units, while Kia contributed 210,428.
The group’s annual domestic EV sales hit an all-time high in 2022 with 119,791 units sold, and maintained strong momentum in 2023 with 111,911 units—marking two straight years above the 100,000 mark. But sales dropped to 85,203 units in 2024 amid what the company described as an “EV chasm,” a temporary slowdown in demand.
This year, however, early signs point to a recovery. EV subsidies were confirmed earlier than usual, which helped push first-quarter sales to 23,159 units—up 75% from the same period a year earlier.
Hyundai and Kia saw their EV sales gain significant traction in 2021, when they rolled out models based on their dedicated electric platform, E-GMP.
Among them, Hyundai’s Ioniq 5 has been the top seller so far, with 83,555 units sold. Kia’s EV6 followed with 64,491 units, while Hyundai’s Ioniq 6 and Kia’s EV3 recorded 26,446 and 18,569 units, respectively.
The automakers are expanding their lineups this year. Hyundai recently launched the Ioniq 9, a large electric SUV, while Kia rolled out the EV4, its first electric sedan. Hyundai also plans to release a facelifted version of the Ioniq 6, and Kia is preparing to begin domestic sales of the PV5, its first purpose-built vehicle, or PBV.
