According to news on August 17, South Korea’s exports of new energy vehicles increased year-on-year, driving an increase in overall vehicle exports, thanks to the increased demand for new energy vehicles such as electric vehicles and hybrid vehicles
According to data from the Ministry of Trade, Industry and Energy, South Korea exported 59,799 new energy vehicles in July, an increase of 10.4% from the same period last year. Reaching US$2 billion, a year-on-year increase of 36%
According to data from the South Korean Ministry of Trade, Industry and Energy, on average one out of every four South Korean cars exported in July was a new energy vehicle
Driven by the substantial increase in new energy vehicle exports, South Korea's automobile exports also increased significantly year-on-year in July, reaching US$5.9 billion, higher than US$5.14 billion in the same period last year, maintaining the second place for 13 consecutive months Year-on-year growth rate
In the first seven months of this year, South Korea’s automobile exports reached US$41.55 billion, a year-on-year increase of 41%, setting a record for the fastest annual South Korean automobile export volume to exceed US$40 billion
It is expected that in the future, as the two major brands Hyundai and Kia continue to launch more electric vehicles and the global demand for electric vehicles continues to increase, the export value of South Korea's new energy vehicles will continue to grow
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