Hyundai's EV exports to US plunge 88% amid shift to local production
IANS
reports.
According to data released by the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia together exported 7,156 EVs to the US between January and May — an 88 per cent decline from 59,705 units in the same period last year. This marks the lowest January–May export volume to the US since the group began intensifying its electrification efforts in 2021.
Hyundai, including its Genesis brand, recorded shipments of 3,906 EVs — down 87 per cent year-on-year. Kia's exports fell even further, by 89.1 per cent, to 3,250 units.
Uncertain outlook
The steep decline follows Hyundai's decision to shift production of EVs for the US market to its new facility in Georgia — Hyundai Motor Group Metaplant America. In the first half of the year, the plant produced 28,957 units of the Ioniq 5 and 4,187 units of the Ioniq 9.
Despite the push to produce locally, Hyundai and Kia have seen their overall US EV sales fall. According to Wards Intelligence, the group sold 44,555 EVs in the US during the first half of 2025 — a drop of 28 per cent compared to the same period in 2024.
The outlook remains uncertain, with potential impacts from upcoming policy changes. Industry analysts warn that the planned phase-out of
US EV tax credits
in September — under the 'One Big Beautiful Bill Act,' a tax reform measure led by President Donald Trump — could further dampen sales.
A report by the Federation of Korean Industries (FKI) estimates that Hyundai Motor Group could lose up to 45,828 units in annual US EV sales, amounting to a projected revenue loss of $1.95 billion. The US accounted for 36 per cent of Hyundai's total EV exports last year.
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