Hyundai’s sleek IONIQ 5 electric SUV design and advanced features are attracting a new group of buyers that would usually stick with a premium brand. The success has even surprised company leaders, like Michael Cole, President, and CEO at Hyundai Europe, who claims “brand loyalty doesn’t seem to be as strong in EVs.”
After the IONIQ 5 made its official debut in 2021, Hyundai didn’t realize it had a gem on its hands that would transform the company’s entire brand image.
Although Hyundai was known as a “cheap” car brand early on, the South Korean automaker has transformed itself in the EV era with quality interior and exterior designs, state-of-the-art technology, and a focus on innovation.
By doing so, Hyundai, including the Kia and Genesis brands, grew to become the third largest automaker this past year, surpassing GM, Nissan, and Stellantis in annualy volume in 2022.
Hyundai took a “radical new approach” with its first dedicated electric vehicle, the IONIQ 5. The automaker says the IONIQ 5 was designed and built with a progressive apporoach that started with looking to its past, in particular, its first unique vehicle, the Pony.
However, what truly brings the IONIQ 5 to life is Hyundai’s Electric Globular Modular Platform (E-GMP), the company’s dedicated EV archetecture featuring up to 310 miles range (500 km), 800V ultrafast charging (18 minutes), vehicle-to-load capabilities (V2L), and more.
The sleek, bold design and functionality is attracting a new group of users that’s surprising even Hyundai’s leaders.
Hyundai IONIQ 5 electric SUV (source: Hyundai)
Hyundai IONIQ 5 is attracting premium buyers
Hyundai’s progressive approach is paying off. According to a new report from Autocar, the IONIQ 5 has been winning over customers from premium brands.
Although the electric SUV is priced above Hyundai’s typicaly range, it’s about in line with the competition, starting at $41,500, and sales have been strong.
The IONIQ 5 was followed up by the IONIQ 6 electric sedan, which was officially unveiled last July, gaining attention as one of the most aeordynamic and energy efficient EVs on the market and placing among the top two models on Fueleconomy.gov’s 2023 top 10 list with the Lucid Air.
IONIQ 5 and IONIQ 6 sales reached over 100,000 last year as the brand accelerated its transition to zero-emission electric vehicles. Hyundai is planning to release its larger IONIQ 7 SUV next year.
The success of the IONIQ 5 has given Hyundai confidence in releasing its larger SUV, as Cole explains:
With Ioniq 7 there was a bit of hesitation a year ago prior to Ioniq 5 about whether it was a car for Europe – but after the success of the Ioniq 5, we now 100 per cent think it’s a car that we can sell in Europe, and we will capture some premium brand customers with it.
Cole adds “brand loyalty doesn’t seem as strong in EVs” as several new electric models are pulling sales from premium brands.
Although Hyundai is attracting premium buyers, the brand isn’t planning to change its image altogether (to a premium one). Instead, the company believes it can reach an entire new customer base with its EVs.
Electrek’s Take
It doesn’t come as a surprise the Hyundai IONIQ 5 is winning over premium buyers. The modern look and functionality is enough to make anyone convert.
However, Hyundai isn’t the only brand with EVs winning over new buyers groups. Tesla blazed its own path, with two models now in the top 10 best selling cars worldwide. Ford, GM, and others have mentioned success stories with buyers converting from gas-powered cars and other brands.
The same thing is happening in China. EV startups with bold designs and advanced features are winning over customers and stealing share from the premium brands.
The fact of the matter is EVs are more fun to drive, buyers will look for the best option on the market regardless of brand.
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Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.
These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.
The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.
Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:
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No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
Backup power: EV batteries can be used as backup power sources during outages.
Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.
Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”
“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.
The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.
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Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.
Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.
Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.
“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.
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CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.
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After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.
Rivian cuts R1S lease prices by $200 per month
Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.
With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.
Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.
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The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.
Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.
Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.
Starting Price
Range (EPA-est.)
2025 Rivian R1S Dual Standard
$75,900
270 miles
2026 Tesla Model Y Launch Series
$59,990
327 miles
Rivian R1S Dual Standard vs new Tesla Model Y Launch Series
To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.
The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.
Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.
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