Hyundai Group's global EV sales grows 58% y/y to 40,182 units in January-May period

Both Hyundai and Kia are planning to strengthen their EV lineup to meet surging demand of such vehicles

Hyundai Motor Group, the parent company of South Korea-based Hyundai and Kia, has reported 58% year-over-year (y/y) increase in the global sales of electric vehicles (EVs) to 40,182 units in the first five months of 2020, Yonhap News Agency reported on 11 June. “Demand for EVs is on the rise in Europe as the European Union strengthens emissions standards. Korean carmakers will benefit from rising EV demand there and local governments' subsidies for EVs,” Yonhap quoted a Hyundai Motor Group’s spokesman as saying.