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Kia Corp, supported by Hyundai Motor Co., is set to sell over 100,000 electric vehicles (EVs) by the end of October, as per company data released on October 13, Yonhap News reported.
The two South Korean automakers collectively achieved a 30.3% increase in EV sales compared to last year, with a total of 91,348 EVs sold. Kia saw an impressive 80.3% surge, selling 43,051 units, while Hyundai’s EV sales grew by 4.5%, reaching 48,297 units.
According to market analysts, Kia and Hyundai are expected to exceed the 100,000 EV sales milestone by the end of this month.
Additionally, Hyundai Motors plans to launch an IPO on October 15, aiming to raise ₹27,870 crore to fund their expansion efforts.
The company’s strategy focuses on building local supply chains for critical EV components, such as battery packs, powertrains, and battery cells, along with significant investments in EV charging infrastructure.
Tarun Garg, Chief Operating Officer of Hyundai Motor India, highlighted the company’s commitment to expanding its EV lineup, saying, “We are introducing the Creta EV and three more models to further accelerate our EV sales growth.”
