Shulou(Shulou.com)11/24 Report--

August 17 news, with the increase in demand for new energy vehicles such as electric vehicles and hybrid vehicles, South Korea's exports of new energy vehicles are also increasing compared with the same period last year, pushing up the increase in overall vehicle exports.

South Korea exported 59799 new energy vehicles in July, up 10.4 per cent from a year earlier, and exports reached $2 billion, up 36 per cent from a year earlier, according to the Ministry of Trade, Industry and Energy.

Figures from South Korea's Ministry of Trade, Industry and Energy also show that an average of one in four cars exported by South Korea in July were new energy vehicles.

Driven by a year-on-year increase in exports of new energy vehicles, South Korean car exports also increased significantly in July, reaching US $5.9 billion, up from US $5.14 billion in the same period last year, maintaining a double-digit year-on-year growth rate for 13 consecutive months.

In addition, in the first seven months of this year, South Korean car exports reached US $41.55 billion, an increase of 41% over the same period last year, the fastest time that South Korea's annual car exports exceeded US $40 billion.

As Hyundai and Kia launch more electric vehicles and the global demand for electric vehicles continues to increase, South Korea's exports of new energy vehicles are expected to maintain the momentum of growth for some time to come.

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