Hyundai Motor is pleased to announce that beginning in 2023, and the company will sell only fully electric vehicles in Norway. Hyundai is now one of the leading brands in Norway after eight years of rapid expansion there. The arrows have been pointing in the right direction for Hyundai ever since the groundbreaking IONIQ model debuted in 2016, and ever since then, Norwegians have been flocking to dealerships to obtain a new Hyundai.
The Norwegian market has proven to be a pioneer for Hyundai's foray into the electric vehicle sector, which is already a global leader. The IONIQ electric car shot to the top of the electric vehicle sales charts almost immediately after its release and stayed there until the final vehicle was delivered right before Christmas. With its long-range, reasonable price, and crossover form factor, the Hyundai KONA was popular with Norwegian and European buyers when it was released in 2018. It led to 8,000 pre-orders in Norway, and sales have kept the Hyundai KONA electric car among the country's best sellers year after year.
The Hyundai IONIQ 5 has now arrived, again packed with features desired by consumers. The Hyundai IONIQ 5 is the fifth best-selling vehicle in Norway so far this year thanks to its cutting-edge technology and desirable features, including a long-range, rapid charging, a spacious cabin, and a practical SUV body style.
By 2020, Hyundai plans to sell entirely plug-in and electric vehicles in Norway, with exciting plug-in hybrid models like the Hyundai TUCSON Plug-In Hybrid and Hyundai SANTA FE Plug-In Hybrid. Yet, as we enter 2023, Hyundai will reach a new peak in the Norwegian industry.
Hyundai plans to phase out sales of plug-in hybrids entirely by the end of 2022, with sales of all-electric vehicles beginning in Norway on January 1, 2023.
We believe strongly in our current lineup, and with the release of the all-new IONIQ 6, the timing is right for Hyundai to sell entirely all-electric vehicles in the Norwegian market. Hyundai Motor Norway Managing Director Thomas Rosvold is convinced that the company's pure electric vehicles, such as the IONIQ 5 and KONA Electric, will continue to be successful well into the future.
We also saw the first images of the next-generation KONA electric car, which promises to be larger, more fashionable, and more powerful than its predecessor. We are set up for an entirely electric future thanks to several developments scheduled for the next few years.
According to significant and impartial market surveys, customers most strongly link Hyundai, one of the established brands that also produces fossil-fuel automobiles, with electric cars. Hyundai has already grabbed the lead in the electric vehicle market in Norway.
The company has a solid foundation upon which to expand, and their electric vehicles, built on the cutting-edge E-GMP platform, have many advantageous features, such as high efficiency, long-range, and innovations like 800V lightning charging, Vehicle-to-Load (V2L), and revolutionary space utilization (Electric-Global Modular Platform).
Hyundai anticipates a 93% market share for electric vehicles by 2022, while in recent years, sales of electric cars in Norway have consistently accounted for more than 90% of the market. From 2020 through 2022, all vehicles sold under the brand's nameplate in Norway will be electric, with 92% of total sales occurring in that time frame. Because of this, Hyundai is now firmly positioned as one of Norway's most sought-after automobile manufacturers.
