Hyundai's EV exports to US down 88 pc in January-May

Seoul, July 22 (IANS) Hyundai Motor Group's export of electric vehicles (EVs) from South Korea to the United States fell nearly 90 per cent on-year in the first five months of the year, as the automaker shifts production of America-bound vehicles to its new U.S. facility, according to industry data on Tuesday.

According to the data from the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia combined exported 7,156 EVs to the U.S. between January and May this year, down 88 percent from 59,705 units during the same period a year earlier, reports Yonhap news agency.

Hyundai Motor Co., including its premium Genesis line, shipped 3,906 units, marking an 87 percent decline, while Kia's exports dropped 89.1 percent to 3,250 units.

The volume represents the lowest level for the January-May period since Hyundai Motor Group began accelerating its electrification strategy in 2021.

The decline is largely attributed to Hyundai's ongoing efforts to localise EV production in the U.S.

In the first half of the year, the automaker completed construction of its dedicated EV plant, Hyundai Motor Group Metaplant America, in Georgia. It produced 28,957 units of the Ioniq 5 and 4,187 units of the Ioniq 9 at the facility.

At the same time, Hyundai and Kia have also faced challenges in the U.S. EV market. According to industry tracker Wards Intelligence, the group sold 44,555 EVs in the U.S. in the first half of 2025, down 28 percent from a year earlier.

Industry watchers say that the outlook for the remainder of the year may be bleaker due to the scheduled termination of U.S EV tax credits in September under the One Big Beautiful Bill Act, a major tax reform bill spearheaded by U.S. President Donald Trump.

A recent report by the Federation of Korean Industries (FKI) recently estimated Hyundai Motor Group could lose up to 45,828 units in annual U.S. EV sales, equivalent to US$1.95 billion in sales. The U.S. market accounted for 36 percent of Hyundai Motor Group's total EV exports last year.

—IANS

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