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Late bloomer Hyundai speeds past BYD in electric vehicle sales

South Korean automaker accelerates into fourth place

The Hyundai Kona electric vehicle is displayed at the New York Auto Show.   © Reuters

SEOUL -- Hyundai Motor, once a perennial also-ran in next-generation autos, has rapidly gained ground against rivals, surpassing Chinese peer BYD to take fourth place in the global electric vehicle market.

The South Korean automaker held an 8% market share in the first quarter of this year, selling 24,000 vehicles, compared with BYD's 6%, according to data from EV Sales.

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