Hyundai Motor Company (005380) ranked first in global hydrogen vehicle sales from January to February.

According to SNE Research, an energy market research firm, sales of hydrogen-electric vehicles registered worldwide rose 20.3% year-on-year to 2,269 vehicles from January to February.

It is analyzed that Hyundai Motor’s Nexo (1st generation) 2021 model, which was released in January last year, led to overall market growth.

Hyundai sold 1,100 units in January and February, up 35.0 percent year-on-year, thanks to increased sales of Nexo. Its market share topped the list with 48.5 percent.

Toyota, on the other hand, sold 728 units, down 18.2 percent from the previous year. Its market share is 32.1%.

Toyota, which had the No. 1 market share between January and February last year, seems to have seen its supply decrease earlier this year due to supply chain issues caused by natural disasters in Japan.

Honda sold 70 units, down 9.1 percent from the previous year. It ranks third with 3.1 percent of the market share.

“Hyundai Motor, which has led the hydrogen car market for the past three years, is expected to continue its dominance for the time being,” SNE Research said. “Attention is being paid to whether it will be able to maintain its No. 1 position in the market this year.”