As of December 2023, electric vehicle exports grew by 22% compared to the same month last year, but battery (secondary battery) exports decreased slightly.
Electric vehicle exports showed a strong trend, while battery exports decreased. By region, exports to the United States increased significantly.
On January 03, 2024, the Ministry of Trade, Industry and Energy announced ‘December 2023 and annual export and import trends (provisional values)’. In December last year, automobile exports increased for 18 consecutive months to $6.39 billion, an increase of 17.9% compared to the same month last year. Among automobiles, electric vehicle exports amounted to $1.5 billion, an increase of 22.1% compared to the same period last year.
Electric vehicle exports increased, but secondary battery exports fell by 1%. This is because global battery demand has decreased due to battery inventory adjustments by major electric vehicle OEM companies. In December, secondary battery exports amounted to $950 million. The export amount of secondary battery items in the same period last year was $960 million.
