Hyundai Motor Group was the second-largest electric vehicle seller in the US for January, trailing only behind Tesla, according to S&P Global Mobility, Automotive News. In January 2024, the three car brands under Hyundai Motor Group—Hyundai Motor, Kia, and Genesis—registered a total of 8,262 new electric vehicles (EVs) in the US, capturing 9.3 percent of the total EV market share for that month.
Tesla leads the US EV registrations while Hyundai Motor shows significant growth with a 79% increase in newly registered EVs compared to January 2023. General Motors and Ford are third and fourth. Hyundai’s rise is marked by double sales increases for Kia and Genesis. A potential for Hyundai lies in its upcoming Georgia plant, which promises to boost their market share. In the previous year, the US saw nearly 1.2 million new EV registrations, with Hyundai Motor Group selling 94,340 EVs. The company’s early 2023 performance indicates a possible surge beyond 100,000 sales this year, and they are fast-tracking the Georgia facility to begin production in October.