The South Korean electric vehicle maker is launching a second-generation version of its all-electric SUV.
Every Tesla competitor is busy designing new EVs and getting them to showrooms as quickly as possible to try to whittle away at the leading EV company’s market share.
tesla (TSLA) – Get a free reportis the leading producer of electric vehicles and has set a record with 1.37 million EVs produced in 2022. The company has set a goal of producing 20 million EVs a year by 2030. Tesla is expanding further as it plans to build a $3.6 billion battery and Tesla semi-truck manufacturing plant in northern Nevada.
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Ford (F) – Get a free reportLately, the strategy has been to increase production of its F-150 Lightning, Mustang Mach E and E-Transit models to make more electric vehicles available for sale. general motors (GM) – Get a free reportis also increasing production and plans to build a fourth battery cell plant in the US to enable it to grow from 400,000 EVs in North America by mid-2024 to more than 1 million EVs annually by 2025, the company said in an email. statement.
hyundai
Hyundai increases production
South Korean electric vehicle maker Hyundai is another automaker ramping up production, having broken ground last October on a $5.5 billion plant located along I-16 in North Korea County. Bryan, near Savannah, Georgia, which would employ about 8,500 people. On February 21, Hyundai subsidiary Genesis rolled its first EV off a US assembly line when it began manufacturing its GV70 all-electric SUV at its Montgomery, Alabama plant.
Hyundai also makes the Ioniq 5 and Kia EV6 all-electric vehicles and will introduce its new Ioniq 6 in the US in the spring with an MSRP of $41,600. Hyundai subsidiary Kia will also launch its new EV9 SUV on March 15, priced at around $55,000.
To keep the pressure on Tesla and all the EV competition, Hyundai on March 6 unveiled its new second-generation Kona all-electric subcompact crossover SUV, with standard and long-range powertrains. The Kona will also be offered in electric hybrid and internal combustion engine versions.
Kona specifically designed as an EV, not ICE
The Kona, however, in what Hyundai calls an unconventional move, was designed as an EV first, as part of the company’s accelerated electrification strategy that will bring 11 new Hyundai EVs to market by 2030, the company said in a statement. a statement.
“Kona Electric will play an important role together with our Ioniq models in reinforcing Hyundai’s electric vehicle leadership. The new model builds on the great reputation of the first generation Kona Electric and is engineered and engineered to lead the competition with its many outstanding features,” said Hyundai CEO Jaehoon Chang.
The Kona Electric has an estimated maximum long range of about 305 miles. EV-specific design elements include luggage storage, active air flaps, interior and exterior vehicle charging outlets, head-up display, i-Pedal drive mode, intelligent regenerative system, active electronic sound design, and an eco-package.
The new Kona model has Hyundai’s SmartSense advanced driver assistance system and safety systems, including Level 2 autonomous driving, Forward Collision Avoidance Assist, Blind Spot View Monitor, Remote Smart Park Assist and Status Monitor of the driver. It will also offer over-the-air software updates.
The Kona Electric and other models will be available in the summer, but Hyundai hasn’t revealed pricing yet. However, it could still be under $40,000 as the 2023 Kona Electric first-gen vehicle had a starting price of $33,550.
