News

Hyundai Motors rises in global electric vehicle sales

Hyundai Motors  has leapt to 4th place in global electric vehicle (EV) sales, surpassing Chinese rival BYD. Hyundai have claimed an 8% market share through the sale of 24,000 units this year. The company plans to expand their line-up of fully EVs from 9 to 44 models, as well as increase output 10 times to 1 million units by 2025.

Battery supply has been an issue for the industry. CEO of Hyundai Motors Chung Eui-sun has reached out to South Korea’s largest EV battery manufacturers LG Chem, Samsung SDI, and SK innovation to consolidate supply in line with their long-term EV goals. All three battery manufacturers have been seeking joint partnerships with Australian mineral companies in recent years.
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Australia Korea Business Council
PO Box 24430
Melbourne, Vic 3001 Australia
Liz Griffin – Executive Director
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The Australia-Korea Business Council is the leading national body committed to strengthening the Australia-Korea economic relationship.