Hyundai, Kia eco-friendly vehicle exports up 22.3%

Half of Hyundai's hybrid exports headed to US

Kia reaps rewards of timely EV launches in Europe

Hyundai Motor's Tucson hybrid compact SUV [Hyundai Motor]
Hyundai Motor's Tucson hybrid compact SUV [Hyundai Motor]

Hyundai Motor and Kia have each carved out distinct paths in eco-friendly vehicle exports this year, with Hyundai riding a surge in hybrid demand in the United States and Kia expanding its electric vehicle shipments across Europe.

Hyundai Motor and Kia exported 591,471 eco-friendly vehicles — hybrids, electric and hydrogen — in the January–July period, up 22.3 percent from the same period last year, according to the Korea Automobile Mobility Industry Association on Monday. Hybrid exports rose 26.4 percent to 429,416 units, while electric vehicle exports climbed 12.7 percent to 162,016 units.

Hyundai Motor outpaced Kia in hybrid export growth, shipping 244,761 units — a 38.2 percent increase — compared with Kia's 184,655 units, up 13.6 percent.

Particularly striking was the performance in the US, Hyundai Motor's largest export market: hybrid shipments there jumped 70.1 percent year-on-year to 121,027 units, the highest growth rate of any region. As a result, the US share of Hyundai Motor's hybrid exports rose sharply from 40.2 percent last year to 49.4 percent.

The surge reflects Hyundai Motor's effective response to growing hybrid demand in the US following the expiration of the electric vehicle tax credit under the Inflation Reduction Act last year. US hybrid demand has grown about 20 percent this year compared with last year, with gains concentrated at Hyundai Motor Group and Toyota, both of which carry a large share of hybrid sales. Hyundai Motor plans to deepen its push into the US eco-friendly vehicle market by introducing hybrid models under its premium Genesis brand.

In electric vehicles, however, the picture was reversed. Kia's EV exports surged 34.3 percent year-on-year to 103,823 units in the January–July period, while Hyundai Motor's fell 12.4 percent to 58,193 units. Kia's EV shipments to Europe were particularly strong, jumping 44.7 percent to 80,428 units — the highest growth rate among major regions.

Europe's share of Kia's EV exports also climbed from 71.9 percent last year to 77.5 percent. Analysts attribute the gain to Kia's timely introduction of new electric models in response to shifting local demand, including high fuel prices. New mass-market EVs — the EV2, EV4 and EV5 — along with the PV5, Kia's first purpose-built vehicle (PBV) model, drove the gains.

Hyundai Motor's EV exports to Europe, by contrast, fell 7.2 percent to 43,648 units. The company plans to roll out the Ioniq 3 — its European strategic model — in the second half of this year, with a target of selling more than 40,000 units annually in Europe starting next year.

Meanwhile, Hyundai Motor Group held an autonomous driving media day Friday at the headquarters of 42dot in Pangyo, Seongnam, Gyeonggi Province, announcing plans to launch a Level 2++ production vehicle powered by its Atria AI system in the second half of 2029, pending certification in North America, Europe and other markets.


eyre@heraldcorp.com