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Kia suddenly shifts to hybrids, affordable EVs amid ‘waning global demand’

Baua Electric

Kia is following in Ford’s footsteps after suddenly announcing plans to introduce more hybrids as it expects slower EV demand. To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year.

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Kia suddenly shifts to hybrids, affordable EVs amid waning global demand

Baua Electric

Kia is following in Ford’s footsteps after suddenly announcing plans to introduce more hybrids as it expects slower EV demand. To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year.

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Polestar 3 launches in China with $29k price cut

Teslarati

Polestar has launched the Polestar 3 electric SUV in China and has slashed its starting price by roughly $29,000. As initially reported by CnEVPost , when the Polestar 3 was first advertised to Chinese consumers at its global reveal event, it had a starting price of 880,000 yuan ($127,756), placing it firmly within the luxury segment.

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Audi is the latest automaker to reveal plans for a lower-cost EV

Baua Electric

Audi Q6 e-tron quattro (Source: Audi AG) The race for more affordable EVs The new lower-cost Audi EV is “not a four-metre car,” according to Döllner. “We Ford is shifting its plans to smaller, more affordable EVs. Rivian R3X (Source: Rivian) Audi’s parent company, Volkswagen, announced it aims to begin producing its most affordable ID.1

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Hyundai sets massive sales growth target propelled by new EV offerings

Teslarati

It is now a leader in affordable offerings and electric vehicles, along with the likes of Ford. According to Reuters , Hyundai Motor Group is already a massive seller of vehicles globally, selling 6.85 million vehicles globally in 2022. And while this achievement was off from its 2022 sales goal of 7.16

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BYD expects at least $4 billion in net income from surging EV sales

Baua Electric

In the last three months of the year, the Chinese automaker overtook Tesla as the largest global EV maker as it expanded the brand. BYD Atto 3 (Source: BYD) The company, which started as a battery maker, is expanding the brand with affordable EVs like the Dolphin electric hatch and Atto 3 (Yuan Plus in China) SUV.

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BYD Q1 EV sales top 300,000, but is it enough to maintain a lead over Tesla ?

Baua Electric

If true, Tesla will take back the title of global EV leader. Electrek’s Take Despite fierce competition and an aggressive price war in China, BYD continues selling more EVs. EV sales slipped sequentially, but this is a common trend in China, with sales traditionally peaking at the end of the year before slowing in Q1.

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