{"id":140669,"date":"2023-09-28T11:45:16","date_gmt":"2023-09-28T09:45:16","guid":{"rendered":"https:\/\/newmobility.news\/?p=140669"},"modified":"2023-09-29T12:01:21","modified_gmt":"2023-09-29T10:01:21","slug":"slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea","status":"publish","type":"post","link":"https:\/\/newmobility.news\/en\/2023\/09\/28\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\/","title":{"rendered":"Slowing demand forces Hyundai and Kia to lower EV prices in Korea"},"content":{"rendered":"<p>Demand for electric vehicles is decreasing in South Korea due to a slowing economy and is forcing local manufacturers Hyundai and Kia to cut the prices of their electric models. This comes after the government decided to expand its subsidy to more expensive models.<\/p><p>Whereas electric vehicles continue to become more popular in Europe due to changes in policy and an ever-larger offer, the average South Korean does not seem as enthusiastic. According to Bloomberg, fewer EVs have been sold in South Korea in the first eight months of 2023 than last year. A slow economy and the high purchase price of an EV are said to be the reasons for this decline.<\/p><div class=\"leaky_paywall_message_wrap\"><div id=\"leaky_paywall_message\">This content has been archived. <a href=\"https:\/\/newmobility.news\/en\/subscription\/\">Log in or Subscribe<\/a> to a level that has access to archived content.<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Demand for electric vehicles is decreasing in South Korea due to a slowing economy and is forcing local manufacturers Hyundai and Kia to cut the prices of their electric models. This comes after the government decided to expand its subsidy to more expensive models.Whereas electric vehicles continue to become more popular in Europe due to [&hellip;]<\/p>\n","protected":false},"author":876,"featured_media":140685,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[16,8,4,17],"tags":[],"class_list":["post-140669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","category-product","category-top-stories-today","category-weekly-newsletter"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=900%2C601&ssl=1",900,601,false],"thumbnail":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=300%2C200&ssl=1",300,200,true],"medium_large":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=640%2C428&ssl=1",640,428,true],"large":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=640%2C427&ssl=1",640,427,true],"1536x1536":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=900%2C601&ssl=1",900,601,true],"2048x2048":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=900%2C601&ssl=1",900,601,true],"trp-custom-language-flag":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=18%2C12&ssl=1",18,12,true],"related-thumb":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=640%2C480&ssl=1",640,480,true],"gform-image-choice-sm":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=300%2C300&ssl=1",300,300,true],"gform-image-choice-md":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=400%2C400&ssl=1",400,400,true],"gform-image-choice-lg":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=600%2C600&ssl=1",600,600,true],"mailchimp":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=560%2C374&ssl=1",560,374,true],"unipress-phone":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=640%2C100&ssl=1",640,100,true],"unipress-tablet":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=900%2C240&ssl=1",900,240,true],"unipress-tablet-portrait":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=900%2C180&ssl=1",900,180,true],"unipress-tablet-landscape":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=900%2C180&ssl=1",900,180,true],"unipress-smartphone":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=900%2C168&ssl=1",900,168,true],"unipress-wide-screen":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?resize=900%2C180&ssl=1",900,180,true]},"post_excerpt_stackable_v2":"<p>Demand for electric vehicles is decreasing in South Korea due to a slowing economy and is forcing local manufacturers Hyundai and Kia to cut the prices of their electric models. This comes after the government decided to expand its subsidy to more expensive models.Whereas electric vehicles continue to become more popular in Europe due to changes in policy and an ever-larger offer, the average South Korean does not seem as enthusiastic. According to Bloomberg, fewer EVs have been sold in South Korea in the first eight months of 2023 than last year. A slow economy and the high purchase price&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/newmobility.news\/en\/category\/industry\/\" rel=\"category tag\">Industry<\/a>, <a href=\"https:\/\/newmobility.news\/en\/category\/product\/\" rel=\"category tag\">Product<\/a>, <a href=\"https:\/\/newmobility.news\/en\/category\/top-stories-today\/\" rel=\"category tag\">Top Stories Today<\/a>, <a href=\"https:\/\/newmobility.news\/en\/category\/weekly-newsletter\/\" rel=\"category tag\">Weekly Newsletter<\/a>","author_info_v2":{"name":"Yeelen M\u00f6ller","url":"https:\/\/newmobility.news\/en\/author\/yeelenmhotmail-com\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Slowing demand forces Hyundai and Kia to lower EV prices in Korea - newmobility.news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmobility.news\/en\/2023\/09\/28\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slowing demand forces Hyundai and Kia to lower EV prices in Korea - newmobility.news\" \/>\n<meta property=\"og:description\" content=\"Demand for electric vehicles is decreasing in South Korea due to a slowing economy and is forcing local manufacturers Hyundai and Kia to cut the prices of their electric models. This comes after the government decided to expand its subsidy to more expensive models.Whereas electric vehicles continue to become more popular in Europe due to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newmobility.news\/en\/2023\/09\/28\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\/\" \/>\n<meta property=\"og:site_name\" content=\"newmobility.news\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/search\/top\/?q=newmobility.news\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-28T09:45:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-29T10:01:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newmobility.news\/wp-content\/uploads\/2023\/09\/Scherm\u00adafbeelding-2023-09-28-om-11.42.48.png\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"601\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Yeelen M\u00f6ller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@jorisvry\" \/>\n<meta name=\"twitter:site\" content=\"@jorisvry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yeelen M\u00f6ller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/\"},\"author\":{\"name\":\"Yeelen M\u00f6ller\",\"@id\":\"https:\\\/\\\/newmobility.news\\\/#\\\/schema\\\/person\\\/0f3107cf1d3af4703d3337febf04d252\"},\"headline\":\"Slowing demand forces Hyundai and Kia to lower EV prices in Korea\",\"datePublished\":\"2023-09-28T09:45:16+00:00\",\"dateModified\":\"2023-09-29T10:01:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/\"},\"wordCount\":316,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/newmobility.news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/newmobility.news\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Scherm%C2%ADafbeelding-2023-09-28-om-11.42.48.png?fit=900%2C601&ssl=1\",\"articleSection\":[\"Industry\",\"Product\",\"Top Stories Today\",\"Weekly Newsletter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/\",\"url\":\"https:\\\/\\\/newmobility.news\\\/2023\\\/09\\\/28\\\/slowing-ev-demand-forces-hyundai-and-kia-to-lower-ev-prices-in-korea\\\/\",\"name\":\"Slowing demand forces Hyundai and Kia to lower EV prices in Korea - 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