Hyundai now phasing out Kona EVs in S. Korea

Hyundai Motor Co. has stopped producing the Kona Electric for the domestic market, as it prepares to phase out the model undergoing recalls over battery fires.

The South Korean automaker would instead shift its focus to Ioniq 5 EVs.

The Kona EV, launched in April 2018, is Hyundai's bestselling EV model. However, Hyundai's domestic sales of Kona EVs dropped from over 10,000 units each in 2018 and 2019 to about 8,000 units last year after a series of battery fires and its mishandling of the recall of over 75,680 units in February.

Domestic sales of the Kona EV plunged further to only 984 units in the first quarter, a 40 percent drop from the previous year earlier, while overseas sales plunged fell 17.9 percent on-year to 7,428 units.

Hyundai will still sell the remaining Kona EVs in stock for the domestic market and overseas.

Hyundai is now pinning its hopes on its first all-electric Ioniq 5 crossover for its EV transition. The Ioniq 5 has drawn over 40,000 preorders, so far.