Seoul [South Korea], October 30 (ANI): South Korean automakers Hyundai Motor Co. and Kia Corp. are ramping up efforts to expand their presence in Japan with new hydrogen and electric vehicles (EVs), as per a report by Pulse, the English service of Maeil Business News Korea.
At the Japan Mobility Show in Tokyo, which kicks off on Thursday, Hyundai Motor and Kia are expected to make their first joint appearance, targeting a market traditionally dominated by domestic automakers and internal combustion engine vehicles.
The report stated that before the event on Wednesday, Hyundai premiered The All-New NEXO, its latest hydrogen fuel cell electric SUV, while Kia debuted its PV5 purpose-built electric van.
“The All-New NEXO, which rivals Toyota Mirai, is powered by a 150kW motor. It accelerates from zero to 100 km/h in 7.8 seconds, and offers a driving range of up to 720 km. Refueling takes about five minutes. Local sales are set to begin in the first half of next year. Kia also showcased its INSTER, known in Korea as the Casper Electric, and KONA Electric. The automaker said it plans to enter Japan’s electric van market next year with the PV5. The company expects rising demand as Japan aims to have 30 per cent of new car sales be electric by 2030,” the release said.
The automaker has partnered with Japan’s trading firm Sojitz Corp. to establish Kia PBV Japan, a joint venture focused on electric commercial vehicles.
Japan’s auto market remains dominated by domestic brands, led by Toyota, which controls nearly 90 per cent of the entire sales. Hyundai Motor re-entered Japan in 2022 after a 13-year absence.
“We will tailor our approach specifically for Japan,” said the report quoted Hyundai Vice President Chung Yoo-suk. “In the compact car segment, we achieved our business plan for the first time this year since re-entering the market, and plan to continue introducing new models from next year.” (ANI)
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