Hyundai focus on EU electric car market

Hyundai focus on EU electric car market
Hyundai Kona Electric charging

Hyundai started the year focusing on deliver electric cars to EU (European Union) countries, leaving its domestic market temporally forsaken.

Due to stricter emissions regulations that started this year, Hyundai needs to increase its sales of electric cars in the EU to avoid huge fines. Therefore, from March this year Hyundai will start producing the Kona Electric in its Czech manufacturing plant to supply the European market, but until then, Hyundai sends almost all units produced in South Korea to Europe.

 

Starting in March 2020, the company will introduce the Kona Electric in its Czech manufacturing plant, as well as increasing existing supply from its Ulsan plant in South Korea. This will drastically reduce delivery times for customers in Europe.

The decision to additionally produce the Kona Electric in Europe was made in order to better serve Hyundai’s European customers. Since going on sale in 2018, demand for the Kona Electric has surpassed expectations, and the increased capacity is intended to keep up with rising demand.

For 2020, Hyundai will provide over 80,000 units of zero-emission vehicles to European customers, including Kona Electric, IONIQ Electric and the NEXO fuel cell car. With this development, Hyundai expects to become the biggest provider of zero-emission vehicles in Europe in 2020.

 

Let’s see Hyundai’s sales in January 2020.

 

Domestic market (South Korea)

  • Hyundai IONIQ Electric: 2
  • Hyundai Kona Electric: 35

 

Foreign market (Mostly EU)

  • Hyundai IONIQ Electric: 1.403
  • Hyundai Kona Electric: 3.321

 

Hyundai expects to become the “biggest provider of zero-emission vehicles in Europe in 2020”, but it won’t be easy. Tesla and Renault are most likely to achieve this feat. While Hyundai and Volkswagen are more likely to compete for the third place, being followed closely by PSA and Nissan.

 

 

More info:

https://www.hyundai.com/worldwide/en/company/ir/ir-activities/sales-performance

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nono538

Finally….now we will really see the potential they have in terms of customer demand in EU…In my opinion, they have both Kia & Hyundai really interesting products, and demonstrated their technical competences achieving best-in class efficiency. The fight will be quite crazy with upcoming challengers, but the key will be “pricing power” and “marketing power / capability to sell” I believe..

Counter-Strike Cat

Domestic sales are down due Corona shutdown. It will hit exports too, with the transport delay.