The Korea Herald


[Graphic News] Hyundai stands as No. 2 EV player in US market

By Nam Kyung-don

Published : Nov. 21, 2023 - 08:00

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South Korea’s Hyundai Motor Group stands as the second-largest player in the US market for electric vehicles despite concerns surrounding Washington’s protectionism policy, data showed.

Hyundai Motor took up 4.8 percent of the US EV market in the January-September period, with its smaller sister Kia accounting for 2.7 percent, according to US magazine Automotive News.

Their combined market share came to 7.5 percent, taking up the second-largest slice of the US EV market following Tesla, which posted a 57.4 percent share.

Hyundai’s latest performance came amid the US Inflation Reduction Act, which provides tax credits of up to $7,500 to purchasers of electric vehicles that are assembled in North America. (Yonhap)