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Hyundai and Kia are gaining a competitive edge ahead of the affordable EV offensive

Baua Electric

The tailwind comes as the South Korean automakers are launching affordable EVs in key global markets, including the US. billion Hyundai Motor Group Metaplant America (HMGMA) in Georgia is expected to be up and running by the end of the year. It will have up to 315 km (196 miles) range in Korea and 355 km (221 miles) WLTP range.

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Kia will beat Rivian and Tesla into affordable mass-market EVs

Baua Electric

Although Rivian and Tesla are making headlines with planned expansions into mass-market electric vehicles, Kia is set to launch two affordable EVs of its own. More affordable EVs are coming Rivian unveiled its highly anticipated R2 electric SUV Thursday. One of them, the Kia EV3, is expected to launch by the end of the year.

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Hyundai says EVs are ‘top priority’ in the US with massive $7.6B Metaplant opening soon

Baua Electric

billion Metaplant wraps up in Georgia. For now, electric vehicles are the top priority,” Hyundai’s leader added while at an event organized by Georgia Governor Briant Kemp. Hyundai already has six of the top ten most affordable and fuel-efficient EVs in the US this year, but the company isn’t planning to slow down.

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Hyundai is launching two new electric cars in Europe, a low-cost EV and new IONIQ model

Baua Electric

Hyundai is launching the Inster EV, an affordable electric car under $27,000 (25,000 euro), and a new IONIQ model. Hyundai says the Inster EV will debut with an expected up to 220 miles (255 km) WLTP range. Meanwhile, in the US, Hyundai is preparing to launch production at its first EV and battery plant in Georgia later this year.

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Hyundai & Kia take second place after Tesla in US EV sales

Teslarati

Based on sales data from S&P Global, Hyundai Motor Group is behind big names in the global auto market, including Toyota, Ford, and General Motors. billion electric vehicle factory in Georgia. Hyundai Motor Group chose to focus on smaller and more affordable electric vehicles for the US EV Market.

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Rivian aims for 155,000 of its $45,000 R2 electric SUVs in Illinois

Baua Electric

Just after the reveal of its more affordable R2, R3, and R3X models in March, Rivian announced plans to rejigger its production capacity at its existing plant in Illinois, to accommodate the R2 electric SUV at that plant instead of an even larger one in Georgia that remains on the drawing board.

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Hyundai sold nearly 269,000 electric vehicles last year as IONIQ 5 and 6 spark growth

Baua Electric

Meanwhile, Hyundai said it expects the global auto market to continue growing in the future as the shift to electric heats up. Hyundai said its investment plans for 2024 include increasing the number of mass-produced models and building its new EV plant in Georgia while continuing to develop future tech.

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