South Korea’s automotive industry has achieved remarkable achievements in the field of new energy vehicles, with exports expected to break the 700,000 mark this year for the first time, setting a record-high record.New Energy VehiclesCompetitiveness and market potential.

According to the data of the South Korean Automobile Industry Association (KAMA), from January to November this year, the export volume of new energy vehicles in South Korea reached 66,230,7 million units, an increase of 32.5% compared with that, in 2020, the export volume of new energy vehicles was 27,1 million units, in 2021 it was 40.5 million units, and in 2022 it was 55,5 million units, showing an annual trend of continued growth.

Among all new energy models, electric vehicles ranked first with 31,6654 million vehicles exported, followed by hybrid vehicles with 28,3685 million vehicles exported. Plug-in hybrid vehicles and hydrogen-fueled electric vehicles exported 6,1694 million and 274 million respectively. This data reflects the dominance of electric vehicles in the new energy vehicle market, as well as the positive trend of export growth.

However, industry insiders have also pointed out some concerned challenges. Europe and the United States, as the main export market for South Korea’s automobiles, have recently shown signs of “nationalist” expansion, which could have a negative impact on South Korea’s automobile exports.

In summary, while South Korea’s new energy vehicle export performance is significant, the future market environment is still full of uncertainty. Governments and need to closely monitor international market dynamics and develop flexible and variable market strategies to address potential challenges.