Hyundai Motor and Kia captured a combined 70.4% share of South Korea’s EV market in February, up from 60.1% in the same month last year, according to industry data.

In contrast, the share of imported EV brands dropped to 26.4%, down from 34.9% in the previous year.

Hyundai sold 5,346 EVs last month, marking an increase of eight times compared to the previous year. This growth was fueled by sales of 1,473 IONIQ 5 units and over 1,000 Casper Electric models.

Kia reported sales of 4,666 EVs in February, nearly quadrupling its sales from the same month last year. The EV3, a compact SUV, represented about half of Kia’s total EV sales and was the best-selling EV in the country.

Recent Hyundai developments