S. Korea's EV exports to US plunge nearly 90 pc in 2025

Seoul, Feb 4 (IANS) South Korea's electric vehicle (EV) exports to the United States plunged nearly 90 per cent last year, hit by Washington's auto tariffs and the rollback of subsidies under the administration of US President Donald Trump, industry data showed on Wednesday.

According to the data from the Korea Automobile & Mobility Association, South Korea's EV exports to the U.S. totalled 12,166 units in 2025, down 86.8 percent from 92,049 units the previous year, reports Yonhap news agency.

It marks the lowest annual figure since 2022, when EV shipments began gaining momentum.

The trend intensified near the end of the year, with South Korea exporting just 13 EV units to the U.S. in November alone, logging the lowest monthly figure on record.

As a result, the share of U.S. shipments among South Korea's total global EV exports shrank to 4.6 percent last year, compared with 35 percent in 2024.

Industry watchers expected EV exports to the U.S. to remain sluggish for the time being due to the tariffs and Washington's rollback of related subsidies.

"South Korean automakers may need to focus more on other markets, such as Europe, where carbon-neutral policies are gaining traction," an industry observer said.

Meanwhile, South Korea's auto exports decreased 10.5 percent from a year earlier in October, largely due to fewer business days caused by the extended Chuseok holiday, data showed. The value of outbound shipments of automobiles came to US$5.5 billion last month, compared with $6.2 billion the same month last year, according to the data from the Ministry of Trade, Industry and Resources.

The value of accumulated auto exports from January to October, meanwhile, reached an all-time high of $59.6 billion.

The ministry said October exports were weak due to the fall harvest Chuseok holiday that fell in early October, unlike in 2024 when the traditional holiday fell in September. Auto exports in September jumped 16.8 percent on-year, the ministry said earlier.

By destination, exports to the United States plunged 29 per cent on-year to $2.12 billion in October, apparently due to the 25 percent import tariffs imposed on Korean cars by the Donald Trump administration.