Hyundai is set to overtake MINI to become Malaysia’s No.1 selling brand for battery electric vehicles (BEVs), as total bookings collected by Hyundai-Sime Darby Malaysia (HSDM) for its battery EV models has greatly exceeded Malaysia’s allocation.

HSDM declined to reveal the total number of bookings collected but a post by DSF.my said more than 200 units of the Ioniq 5 were booked in just two weeks after the model was launched.

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Separately, we also understand that Hyundai dealers have already sold all their allocations for the Hyundai Kona Electric.

“HSDM did not expect such high demand towards electric vehicles. The response for both models are just overwhelming,” said the company’s spokesperson.

The Kona Electric is currently the cheapest battery EV model on sale in Malaysia, with prices ranging from RM 149,888 to RM 199,888.

Two battery sizes are available - 39.2 kWh for the Lite and Plus variant with a 305 km (WLTP) range, and 64 kWh for the Max variant with 484 km (WLTP).

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Meanwhile, the Ioniq 5 is the cheapest dedicated EV model on sale today (Nissan Leaf is now only available on a subscription basis with GoCar). Prices range from RM 199,888 to RM 259,888.

Two battery sizes are available – 58 kWh that offers 380 km (WLTP) and 72.6 kWh that offers 430 km (WLTP).

Both the Kona Electric and Ioniq 5 are imported (CBU) from Korea and benefit from import and excise tax exemptions until 31-December 2023, as well as road tax exemption until 31-December 2025.

Not helping the supply situation is the fact that global demand is very high for these two models, especially for the Ioniq 5. To get more supply, HSDM needs to compete against Hyundai distributors from other countries.

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“The total number of bookings exceeded HSDM’s forecasted sales in terms of units. However, HSDM is in close communication HMC (Hyundai Motor Corporation) to secure more stock to meet the demand and fulfil all orders soonest. These 2 EV models are in great demand globally so naturally, there is a global shortage,” added the spokesperson.

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In the UK, there was at one point a 12-month waiting list for the Kona Electric, although this has since been cut down to less than 6 months.

In Australia, the first batch of 240 units of Ioniq 5 were sold out in one day. Due to the current volatility in supply chain situation and shortage of semiconductor parts, it is difficult to estimate a delivery time but buyers are bracing for at least a 6-month waiting period.

Buyers should also note that cars that cannot be registered before 30-June 2022 (but there is a 1 month grace period until July) will have to pay the full 10 percent sales tax (now only at 5 percent for imported CBU vehicles). The earlier mentioned tax exemptions don't include sales tax.