South Korea: 126.4% jump in sales, 12th consecutive month of growth

South Korea sold 137,692 vehicles in January, according to the country's Ministry of Trade, Industry and Energy (Motie). Of these, sales of electric and hybrid vehicles rose to 17,992 units, up 126.4 per cent from a year ago and representing a 13 per cent market share, marking the 12th consecutive month of growth in Korea's electric vehicle sales.

In January, hybrid vehicle sales rose 128.6 per cent year-on-year to 15,883 units, plug-in hybrid vehicle sales rose 484.5 per cent year-on-year to 1,654 units and fuel cell electric vehicle sales rose 75.3 per cent year-on-year to 142 units.

During the month, exports of electric and hybrid vehicles rose by 76.5% year-on-year to 32,035 units, while the value of exports rose by 100% year-on-year to US$900 million, a record high. Eco-friendly vehicle exports accounted for 17 per cent of the country's total vehicle exports (192,322 units).

As part of the plan, Motie plans to invest KRW 73.4 trillion (US$67 billion) in energy projects. The South Korean government aims to become more self-sufficient and competitive in the green car market and to reduce its dependence on China. Most Korean components are made in China.

Up to now, Grasen has completed the construction of more than 900 DC fast charging stations across the country, all over the provinces, cities and counties. Our product has already exported to 20 countries