Hyundai Drops to 6th Position in the Global EV Market in H1 2021

Published:Nov 22, 202318:19
Hyundai Drops to 6th Position in the Global EV Market in H1 2021

Seoul: South Korean automaker Hyundai Motors electrical automobile (EV) gross sales elevated within the first half of the 12 months in contrast with a 12 months in the past, however its world market share fell within the face of toughening competitions with Chinese language rivals, business knowledge confirmed on Monday. Hyundai Resumes Manufacturing at Its Asan Plant for Upcoming EV Sedan.

Hyundai Motor was in sixth place when it comes to world EVs gross sales within the January-June interval, one notch down from the fifth place a 12 months in the past, in keeping with the info by business tracker SNE Analysis.

The automaker's world EV gross sales jumped 75.6 p.c on-year to 51,300 models within the first six months of the 12 months, however its market share fell to 2.9 p.c from 4.5 p.c over the interval, knowledge confirmed.

American EV maker Tesla topped the worldwide EV market with a 22.2 p.c share within the first half, adopted by SAIC-GM-Wuling Vehicle, a three way partnership amongst SAIC Motor, Common Motors and Liuzhou Wuling Motor, in addition to BYD and Volkswagen and Nice Wall Motors Firm.

Among the many prime 5, two had been Chinese language automakers and a three way partnership involving Chinese language firms, stories Yonhap news company.

Hyundai Motor boosted EV gross sales with its Kona EV, all-electric Ioniq 5 and Porter electrical vehicles earlier this 12 months, however its development was slower than Chinese language automakers which quickly expanded the market on the again of robust demand on residence turf. SNE Analysis mentioned the Korean automaker faces an uphill battle to increase its presence within the rising EV market because it faces toughening competitors between established automakers and rising Chinese language rivals.

(The above story first appeared on SociallyTrend on Aug 23, 2021 11:26 AM IST. For more news and updates on politics, world, sports activities, entertainment and life-style, go browsing to our web site

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