Hyundai Ioniq Surges Amid Volatile Oil Prices... "Expectations for SK On's Spillover Benefits Gain Momentum"
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- 2026-04-27 07:59:00
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- 2026-04-27 07:59:00
Yonhap News. Hyundai Motor Ioniq 9. Newsis. Panoramic view of SK Battery America (SKBA), SK On's U. S.
electric vehicle sales increased by approximately 40% in March of this year compared to the previous month. The Ioniq 5 (4,425 units) was the best-selling model, up 37% from the previous month (3,234 units), while the Ioniq 9 (905 units) also saw a 79% increase compared to February (505 units). 4% increase compared to the same period last year (8,610 units). The Ioniq 9 also recorded its highest sales volume since September of last year (1,075 units).
Yonhap News. Hyundai Motor Ioniq 9. Newsis. Panoramic view of SK Battery America (SKBA), SK On's U. S.
S. consumers' criteria for purchasing vehicles are changing," adding, "When fuel costs rise, there is a stronger tendency to seek more economical alternatives. " In fact, international oil prices are showing an upward trend. Last March, the average prices of West Texas Intermediate (WTI) and Brent crude reached $94 and $100 per barrel, respectively, surging by approximately 40–50% compared to the January–February average ($60–$70 range).
Consequently, U. S. gasoline prices have also risen significantly; according to the American Automobile Association (AAA) as of the 26th, the average price of regular gasoline in the U. S.
10 per gallon, a 37% surge from before the start of the war with Iran. The U. S. government also believes that a drop in oil prices is unlikely to occur in the short term.
On the 19th (local time), U. S. Energy Secretary Chris Wright stated, "It is highly likely that gasoline prices have already peaked, but it could be later this year or next year for prices to fall below $3 per gallon. " He added, "Prices will fall once the conflict in the Middle East is resolved, but it is difficult to expect a sharp decline in the short term.
" As the high oil price environment persists, the transition to electric vehicles is expected to accelerate. 5 years earlier than previously forecast, followed by one year in 2027 and more than two years earlier from 2028 onwards. The forecast for this year's global EV penetration rate, which was presented at 27% last January, was also raised to 29% this month. ■ SK-ON Batteries in 93% of Hyundai's US EVs.
Yonhap News. Hyundai Motor Ioniq 9. Newsis. Panoramic view of SK Battery America (SKBA), SK On's U. S.
A Signal for a Rebound in Capacity Utilization Hyundai Motor's US EV Sales Volume and SK-ON Battery Equipping Ratio Consequently, expectations for SK-ON to benefit have also grown. Both of Hyundai's models, the Ioniq 5 and Ioniq 9, are equipped with SK-ON batteries, which are produced by the company's US subsidiary, SK Battery America (SKBA). 7% last year, and the surge in Hyundai Motor's electric vehicle sales in the U. S.
Yonhap News. Hyundai Motor Ioniq 9. Newsis. Panoramic view of SK Battery America (SKBA), SK On's U. S.
S. factories starting from the second half of the year. " Expectations for SK On to benefit are confirmed not only by March sales but also by the overall first quarter figures. According to Kelley Blue Book, a U.
S. automotive evaluation agency, SK On batteries were found to be installed in approximately 93% of the 12,662 Hyundai electric vehicles sold in the U. S. during the first quarter of this year.
This represents an increase of over 20 percentage points compared to last year (67%). By model, the Ioniq 5 accounted for the highest share at approximately 77%, while the Ioniq 9 accounted for 16%. The prominent sales of Hyundai Motor's electric vehicles in the domestic market also raise expectations for benefits for SK On. 6% of the total.
While 100,315 units of the Ioniq 5 were sold, the Porter EV, equipped with SK On's batteries, also drove the upward trend with 94,411 units sold. An industry official stated, "If Hyundai Motor's electric vehicle sales remain robust in both the U. S. and domestic markets, it will have a significant positive impact on SK On," adding, "As the high oil price environment persists, the economic viability of electric vehicles will become more prominent, and expectations for expanded sales by Hyundai Motor and improved performance by SK On will grow in tandem.
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[email protected] Kim Dong-chan Reporter