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Hyundai and Kia's Electric Vehicle Exports to the US Plunge 88%, as Heightened Localization Production Drives Sales to Record Lows
3 week ago /
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Author：小编
During the first five months of this year, exports of electric vehicles from Hyundai and Kia to the United States saw a staggering 88% decline, totaling merely 7,156 units. Specifically, Hyundai exported 3,906 units, marking an 87% year-on-year drop, while Kia exported 3,250 units, reflecting a 89.1% year-on-year decrease. Both figures represent record lows in recent years. This drastic decline can be traced back to the Hyundai Motor Group's intensified localization production strategy in the US, coupled with a slowdown in the demand for electric vehicles within the local market.
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