Hyundai Motor's BYD Pushes Out to Third Place in Global Electric Vehicle Market

*This content was translated by AI.

China BYD's global strides are glaring. According to SNE Research, a recent market research firm, BYD has outperformed Hyundai in the global electric vehicle market. It is the first time that BYD has pursued Hyundai Motor in the home market except China.

According to SNE Research, BYD's global sales in 2025 are 627,000 units. The increase is 142% compared to 2024, and the Chinese government's commitment to global expansion of electric vehicles seems to have resulted. Hyundai Motor Co. sold 609,000 units, slightly less than BYD Co., ranking third globally in terms of sales volume by manufacturer.

The top two were Volkswagen and Tesla, which sold a total of 1.269 million units. BYD's global expansion came with the entire market except for some countries such as the United States. In particular, Chinese electric vehicles centered on BYD are known to be very popular in Europe, South America, Africa, and Southeast Asia. Mainly, the overwhelming cost-effectiveness strategy has actually received responses from all over the world.

On the other hand, SNE Research analyzed that although the Ioniq 5 and EV3 drove the performance, sales of EV6, EV9 and Kona Electric slowed down, making it difficult to achieve the same growth as the previous year.

In addition, Hyundai Motor's major market predicted that the North American market has room to buffer tariff risks by expanding U.S. production, but if the strategy fails or is delayed, the scope of tariffs could be expanded to parts, putting pressure on assembly volume in the U.S.

Meanwhile, batteries, including Chinese-made electric vehicles, are also expanding their market share to a number that exceeds the share of electric vehicles. However, the risk of batteries from China is rising as the German law of Munich determines that Sunuda's battery infringed on LG Energy Solution electrode assembly structure patent. Among the models on the market in Korea, cars equipped with Sunuda batteries include Renault Korea's Grand Coleos, Volvo EX30, and KG Mobility's Actian Hybrid and Torres Hybrid.

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*This content was translated by AI.