This photo provided by Hyundai Motor Co. shows its Porter II Electric trucks.
SEOUL, June 19 (Korea Bizwire) — A shift towards electrification is becoming evident even in the domestic market for light commercial vehicles, which are commonly used by self-employed individuals and small businesses for their livelihood.
Hyundai Motor Co. witnessed sales of its Porter II Electric reaching 58,499 units, while Kia Corp. sold 40,825 units of its Bongo III EV from February 2020 to May this year.
The two sister companies achieved a combined cumulative sales figure of 99,324 units.
During the January to May period of this year, the Porter Electric accounted for 29.1 percent of all Porter sales, while the Bongo EV represented an estimated 31.3 percent of total Bongo sales.
The electric models’ combined share in the two commercial vehicle lines stood at 30 percent.
In 2022, electric models constituted 22.1 percent and 23.7 percent of the sales of Porter and Bongo, respectively.
This year, the government subsidy for the Porter Electric and Bongo EV amounts to 12 million won (US$9,370), nearly double the maximum subsidy for passenger EVs.
Starting next year, a new regulation will come into effect that prohibits the registration of new diesel-powered parcel delivery vehicles and school buses for children in most of the greater Seoul areas and metropolitan cities.
This regulation will act as a catalyst for the transition of light commercial vehicles towards electric models.
Moreover, Hyundai and Kia plan to discontinue the production of diesel models of the Porter and Bongo by the end of this year.
Kevin Lee (kevinlee@koreabizwire.com)
