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Industry data shows electric vehicle sales in South Korea surpassing 500,000

In Seoul, the number of cumulative electric vehicle registrations in South Korea surpassed 500,000 in 2023, with a total of 543,900 EVs registered. The country has been recording EV registrations since 2017, with a significant 39.5% increase in registrations from the previous year. Additionally, the number of EV chargers in South Korea has exceeded 300,000, with 305,509 units in place.

Of the EV chargers installed, 279,923 were regular speed chargers and 34,386 were fast chargers. The number of chargers added in 2023 saw a 48.8% growth from the previous year. The Ioniq 5 by Hyundai Motor Co. had the highest number of registrations among EVs with 70,756 units registered. The average battery capacity of the seven models in the Ioniq lineup was found to be 71.89 kilowatt-hours.

This increase in EV registrations and charging infrastructure highlights South Korea’s commitment to sustainable transportation and reducing carbon emissions. With the popularity of electric vehicles on the rise, the country is taking steps to support the growth of EV adoption and build a greener future for its citizens.

As the demand for electric vehicles continues to grow globally, South Korea’s progress in EV registrations and charging infrastructure sets a positive example for other countries looking to transition to cleaner transportation options. With more EVs on the road and an expanding charging network, South Korea is on track to become a leader in the electric vehicle market.

IANS

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