South Korea's Ministry of Land, Infrastructure and Transport: By the end of October 2022, the number of new energy vehicle registrations in South Korea had reached 1.515 million, a year-on-year increase of 38.3%

According to foreign media reports, in the wave of developing new energy vehicles, South Korea, which owns the Hyundai Motor Group, is also investing heavily. South Korea has planned to promote the development of new energy vehicles such as electric vehicles through various incentives.

South Korea, which is vigorously developing new energy vehicles, is also becoming an important market for new energy vehicles. According to information released by South Korea, the number of their new energy vehicle registrations continues to increase significantly.

Foreign media reports show that the South Korean Ministry of Land, Infrastructure and Transport disclosed on Sunday local time that the number of new energy vehicle registrations in South Korea had reached 1.515 million by the end of October, a year-on-year increase of 38.3%.

Foreign media also mentioned in the report that the registration volume of new energy vehicles in South Korea exceeded 500,000 in April 2019 and reached 1 million in July last year. It took only 15 months from 1 million to 1.5 million, which is significantly shorter than the time taken from 500,000 to 1 million.

Among the new energy vehicles registered in South Korea, most are hybrid vehicles, with 1.121 million registered, accounting for nearly 74% of all new energy vehicle registrations; 365,000 pure electric vehicles were registered, accounting for 24.1% of all new energy vehicle registrations; and 27,000 hydrogen fuel cell vehicles were registered.

Among the 25.402 million vehicles registered in South Korea, the proportion of new energy vehicles has increased to 5.96% in October. As the number of registrations continues to increase, the proportion will continue to increase.

From TechWeb