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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.
According to a new report from BostonConsultingGroup , the Hyundai IONIQ 6 is the only EV on the market that meets potential buyers’ median price, range, and charging targets. Source: BostonConsultingGroup) BCG research found that 70% of US consumers are considering buying an EV.
2024 Hyundai IONIQ 5 (Source: Hyundai) Despite rivals like Ford and GM pulling back on EV plans, Hyundai and Kia remain focused on closing the gap with Tesla. For now, electric vehicles are the top priority,” Hyundai Motor Group CEO Chang Jae-hoon said earlier this month. The EV4 is expected to start at around $35,000.
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