Hyundai Ioniq spearheads electric car’s popularity
The number of electric vehicles (EVs) has topped 13,000 in Korea. Among them, 40 percent were Hyundai Ioniq Electrics, leading the growth of EVs here.
According to the Korea Automobile Manufacturers Association (KAMA) and the Ministry of Land, Infrastructure and Transport, Monday, EV registration amounted to 13,812 by the end of last month.
The number of EVs here in 2011 was only 344, but has since increased dramatically every year. The figure stood at 10,855 last year. It was the first time the number of EVs exceeded 10,000.
As of last month, the Ioniq Electric topped the list with 5,581 cars, accounting for 40.4 percent to become the most popular of the 13 EV models available in Korea.
“The Hyundai Motor Ioniq Electric has been well received by Korean motorists in design and driving performance since its release last year,” a Hyundai Motor official said.
“It is also affordable. Thanks to the government’s consumer subsidy of 14 million, the vehicle’s price would go down to around 19 million won.”
Following the Hyundai Ioniq Electric, the Kia Soul crossover came in at second with 2,572 followed by the Renault Samsung SM3 small sedan with 2,547. The Kia Ray and the Chevrolet Spark both took fourth with 1,330.
Of the total EVs, 92.1 percent were domestically produced.
Among imported EV models, the BMW i3 was the most popular with 827. The Nissan Leaf chased with 232 cars.
High-capacity battery EV models like the Tesla and the Chevy Bolt EV are also set to join the competition.
Tesla starts delivering the Model S90D premium sedan next month. GM started to receive pre-orders for the Bolt EV on March 17, and all 400 cars available were sold out in two hours.
President Moon Jae-in also pledged to ban new diesel vehicle registrations by 2030, another sign EVs will continue their surging popularity for years here.
“The government is leaning towards eco-friendly vehicles by deciding to ban diesel cars by 2030,” an industry observer said. “We will see more Tesla vehicles next month. Consumers will have a wider choice in EVs from now on as more carmakers are expected to introduce such models.”
He said EVs will gain further momentum considering the country is home to world leaders of rechargeable batteries, which are crucial to eco-friendly vehicles.
LG Chem and Samsung SDI are top-tier manufacturers of rechargeable batteries for cars. They have struggled of late due to retaliation of the Chinese government after Korea decided to deploy a U.S. anti-missile system.
But after Moon’s inauguration early this month, tensions show signs of easing. Hence, the two battery giants hope to bounce back to boost the EV business.