Hyundai Motor Group's US EV exports down 88% in January-May period over local production boost

Hyundai Motor Group's export of electric vehicles (EVs) from Korea to the United States fell nearly 90 percent on-year in the first five months of the year, as the automaker shifts production of America-bound vehicles to its new U.S. facility, according to industry data Tuesday. According to the data from the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia combined exported 7,156 EVs to the U.S. between January and May this year, down 88 percent from 59,705 units during the same period a year earlier. Hyundai Motor, including its premium Genesis line, shipped 3,906 units, marking an 87 percent decline, while Kia's exports dropped 89.1 percent to 3,250 units. The volume represents the lowest level for the January-May period since Hyundai Motor Group began accelerating its electrification strategy in 2021. The decline is largely attributed to Hyundai's ongoing efforts to localize EV production in the U.S. In the first half of the year, the automaker completed construction of its dedicated EV plant, Hyundai Motor Group Metaplant America, in Georgia. It produced 28,957 uWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times