From January to July this year, Hyundai Kia's market share of electric vehicles in the USA reached 10%, second only to Tesla.
According to a industry report released on Wednesday, from January to July this year, electric cars produced by South Korea's Hyundai Motor Company and Kia Motors Corporation ranked second in the total market share in the USA, surpassing Ford and General Motors, and second only to Tesla. "Automotive News" cited data from Motor Intelligence, an automobile industry tracking institution, reporting that in the first 7 months of this year, the combined market share of these two companies and the independent luxury brand Genesis of Hyundai Motor in the USA's electric car market was 10%. During this period, the market share of the American giants Ford and General Motors was 7.4% and 6.3% respectively.
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Seven South Korean car companies have released information on their electric car batteries, with Chinese products accounting for 35%.
As of Tuesday, seven South Korean automakers have announced the battery information for their electric vehicles sold domestically. After a massive fire was caused by an electric car earlier this month, more and more people are calling for increased battery information transparency. As of Tuesday afternoon, three South Korean companies, Hyundai Motor, Kia Motors, and KG Mobility, as well as four overseas brands, have released battery information for a total of 40 different models sold in South Korea. Among them, 14 models are equipped with batteries made in China, accounting for 35% of the total. Last weekend, Hyundai Motor publicly disclosed the names of 13 battery manufacturers for its electric cars on the company's website.
South Korea will propose that electric auto manufacturers disclose battery information publicly.
The South Korean government announced on Tuesday that it will propose that auto manufacturers voluntarily disclose the brand information of all electric vehicle batteries sold in South Korea. This decision was made at a deputy-level meeting of relevant ministries and institutions for electric vehicles, and comes amid growing public concern over electric vehicle fires following recent incidents. On August 1st, an imported electric vehicle exploded in an underground parking lot of an apartment complex 33 kilometers west of Seoul, resulting in the destruction or damage of more than 140 cars. A few days later, a parked electric car caught fire in Jinshan, 166 kilometers south of Seoul. Currently, the brand information of electric vehicle batteries is
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Hyundai and Kia's sales in the United States decreased by 3.3% in July, due to weak demand for electric cars.
Hyundai and Kia's total sales in the United States in July decreased by 3.3% compared to the same period last year due to the stagnant demand in the electric car market. The two companies announced on Friday that they sold a total of 138,976 cars in the US last month. Among them, Hyundai sold 75,396 cars, a year-on-year increase of 3.5%, while Kia's sales were 63,580 cars, a year-on-year decrease of 10.4%. The total sales of hybrid models reached 19,386, an increase of 20.6% compared to the same period last year. However, sales of electric cars fell by 10.9% year-on-year to 9,256 vehicles due to market factors.
South Korea's KOSPI index fell by 3%, widening the decline.
South Korea's KOSPI index fell by 3% to 2,694.30 points. Semiconductor stocks led the decline, with SK Hynix and Hanmi Semiconductor falling more than 8%, and Hyundai and Kia autos falling more than 4%. Overnight, the three major US stock indexes closed sharply lower, with the Nasdaq falling 2.3% and the Dow Jones falling 1.21%. South Korea's July consumer price index (CPI) rose more than expected, pausing the cooling trend of inflation, which will further support policymakers' caution regarding potential policy shifts. The South Korean government reported on Friday that the CPI in July rose 2.6% year-on-year, higher than 2.4% in June, estimated to be 2.5%. This is since February.
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South Korea's electric car registration has exceeded 0.6 million vehicles.
Industry data released on Thursday showed that the cumulative registered number of electric cars in South Korea has now exceeded 0.6 million. According to data from the Korea Automobile Manufacturers Association (KAMA) and the Ministry of Land, Infrastructure and Transport, as of June this year, there were 606,610 registered electric cars in South Korea. In 2017, the South Korean government began officially recording statistics on electric cars, when there were only 25,108 registered electric cars in South Korea. The latest statistics are 24 times higher than they were seven years ago. In terms of production companies, Hyundai Motor Company (0.241691 million units) accounts for 39.8%, while Kia Motors (0.166274 million units) accounts for 27.4%. Tesla accounts for
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