Seoul: Electric vehicles (EVs) accounted for nearly 20 percent of newly registered cars in the Republic of Korea in August, marking a record high following the introduction of new models by major automakers, data revealed on Sunday. Of the 126,787 cars newly registered in the country last month, EVs represented 23,269, or 18.4 percent, according to data compiled by auto industry tracker Carisyou.
According to Emirates News Agency, for the January-August period, EVs accounted for 12.7 percent of the total newly registered cars. The market share of EVs in Korea has seen a significant rise from 2.4 percent in 2020 to 9.8 percent in 2022. However, it had remained around 9 percent until this recent surge.
The accumulated sales of EVs in Korea are expected to surpass the 200,000 mark for the first time this year. Over the January-August period, the number of newly registered EVs reached 141,986. This growth has been fueled by the release of new models from domestic companies such as Hyundai Motor Co. and Kia Corp., alongside international brands like Mercedes-Benz AG and BMW.