Imported carmakers to bring 53 all-electric models to S. Korea by 2023

Imported carmakers are planning to introduce 53 all-electric models in South Korea by 2023 as they quickly move toward future vehicle technologies amid toughened regulations, the chief of a trade association of foreign automakers here said Tuesday.

They also plan to launch 46 mild hybrid electric vehicles, as well as 32 hybrid and plug-in hybrid electric vehicles, for the next three years, Rene Koneberg, chairman of the Korea Automobile Importers and Distributors Association (KAIDA), said in a press conference.

The move comes as dozens of countries have announced their plans to ban the sale of combustion engine-powered vehicles by 2040 to help reduce carbon emissions.

The automotive industry is "undergoing a paradigm shift" as carmakers are betting on electrification, autonomous driving and new mobility solutions for a new growth driver, said Koneberg, who also serves as Audi Volkswagen Korea managing director.

"The next decade will bring the same change to the automobile market as the change carmakers experienced in the past 100 years," he said.

Reflecting growing demand for environment friendly models, sales of imported zero-emission models exceeded 3,000 units here last year, KAIDA said.

KAIDA expected the figure to reach 10,000 in the near future.

The proportion of eco-friendly vehicles, including pure electric ones, out of total imported car sales jumped from 2 percent in 2010 to 30 percent as of April this year.

To help promote EV models, imported carmakers have established 650 EV chargers and plan to build 1,050 additional ones in the next five years.

Nationwide, there are a total of 70,000 registered EV chargers in South Korea -- 58,000 slow chargers and 12,000 fast ones -- and the Korean government aims to increase the numbers to 500,000 and 17,000, respectively, by 2025, according to the environment ministry.

Imported vehicle sales jumped to 274,859 units in 2020 with a share of 17 percent in the domestic passenger vehicle market from 6,921 units with a 0.6 percent share in 1995, KAIDA said.

From January to June, imported car sales rose 15 percent to 147,757 autos from 128,236 units in the same period of last year. (Yonhap)