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Hyundai Motor Group, including Kia, is using affordability to gain market share in the US. With low-cost electric cars, Hyundai Motor , along with Kia, surged past American automakers Ford and GM in the US EV market in the first three months of 2024. Tesla’s Model 3 was the next closest to hitting the mark.
After a record 2023, Hyundai and Kia are not slowing down this year. With new tariffs on Chinese EVs, Hyundai and Kia look to gain an edge over their overseas rivals. Hyundai Motor, including Kia, generated a record over $9 billion (KRW 12.27 Kia opened orders for its EV3 in Korea earlier this month, starting at $30,700 (KRW 42.08
Buying an electric car with at least 300 miles of range is getting more affordable than ever. Several automakers, including Hyundai , Kia, and Tesla, are now offering long-range EVs (those with at least 300 miles range) that are cheaper to buy than the average gas-powered car in the US.
According to a new report, the Hyundai IONIQ 6 is the only EV on the market offering fast charging in under 20 minutes, over 350 miles range, and at an affordable starting price. Based on Hyundai’s E-GMP dedicated EV platform, the same one underpinning the IONIQ 5 , the IONIQ 6 offers up to 361 miles of driving range.
Including Kia and Genesis, Hyundai Motor was second, behind only Tesla. According to Hyundai spokesperson Miles Johnson, this is “not a typo.” Source: BostonConsultingGroup) A recent report from BostonConsultingGroup found the Hyundai IONIQ 6 was the only EV that met potential buyers’ median price, range, and charging targets.
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