Two legacy automakers, Kia and Honda, both revealed new electric vehicle targets as the market for zero-emission EVs continues growing at a record pace globally.
According to recent data, electric vehicle sales grew by 60% last year, with one in every passenger car bought being an EV.
Although around 14% of total auto sales may not seem like much, compared to just one in 70 (1.4%) cars sold being an EV in 2017, it’s a considerable difference. Most major auto markets are transitioning to sustainable transportation, with one in four cars being an EV in China, one in five in the European Union, and nearly one in ten in the US.
As EV pioneers like Tesla continue expanding at a historic rate, delivering 422,875 vehicles in the first quarter alone, legacy automakers are playing catch up.
Over the past year or so, as EV sales climb to new levels, many automakers have adjusted their sales goals, seeing the direction that the industry is headed.
Although Honda and Kia are in two different situations relating to electrifying their lineup, both announced Wednesday they would raise their EV targets to keep pace.
Kia and Honda lift EV production/sales targets
Kia, under the Hyundai Motor Group, revealed it was raising its EV sales goal to 1.6 million by 2030 with a new 24 trillion won ($18 billion) investment earlier this month.
Although it’s 400,000 units higher than its previous target of 1.2 million, Kia is forecasting overall vehicle sales to reach 4.3 million by that time, meaning it would only represent 37% of the pie.
Kia unveiled its first dedicated EV, the EV6 crossover, last May, based on Hyundai’s E-GMP platform, the same used for the IONIQ 5 and IONIQ 6 models. The automaker also recently revealed its flagship EV9 SUV, its first seven-seater, and an upcoming smaller EV5 electric SUV.
Kia EV9 GT line (Source: Kia)
Hyundai has already said it believes it can be a top three EV producer by 2030 with 31 models across its lineup, including the Kia and Genesis brands.
According to a new report from Bloomberg, Kia is now aiming for EVs to account for 9% of revenue by the end of 2023, up from 5.5% in the first quarter as it works toward its target of selling one million units by 2026.
Separately, Honda revealed plans Wednesday it’s increasing its EV production target to over two million by 2030 with its models, the Honda Prologue and Acura ZDX, due out next year.
Honda is producing its first two EVs in a partnership with General Motors to use its Ultium platform. The Japanese automaker says a mid-to-large size electric model will go on sale in 2025, which will be the first to adopt its new E&E architecture.
According to Honda, it will continue to expand upon its collaboration with GM with affordable EVs going on sale in 2027 as they explore a broad range of core electrification components.
Electrek’s Take
Although it’s not fair to compare the two right now, with Kia already having a dedicated EV out and access to Hyundai’s E-GMP platform, they are still two legacy automakers fighting for a position in the new electric era.
With nearly one in five cars sold this year expected to be electric this year, as the auto industry continues trending toward 100% EV, legacy automakers that previously lagged are beginning to act urgently.
Even Toyota, arguably the most prominent critic against going all-in on EVs, admitted it would need to pick up the pace to remain competitive in China, the leading market globally.
We have said for a long time at Electrek that EV adoption will take many by surprise, and it will continue to do so.
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Kia’s upcoming entry-level EV has finally made its way to the famous Nurburgring for testing. The EV4 hatch was spotted ripping across the track, nearly on two wheels at one point, as Kia preps for its big debut.
According to Kia, the EV4 is “an entirely new type of EV sedan. ” It was first unveiled last October during Kia’s first annual EV Day, alongside the EV3 and EV5 as part of its new low-cost lineup.
The EV5 launched in China last year, while the EV3 is already rolling out in Korea and Europe. Next up, we will finally see the production version of the EV4.
Although its four-door format suggests it’s a sedan, Kia said the EV4’s bold design is a symbol of the company’s innovation. Its low nose, long-tail silhouette, and added roof spoiler give it an almost racecar-like feel.
With its official debut approaching, Kia’s EV4 has been spotted out in the wild several times. Last week, it was caught testing in the US for the first time.
A hatchback model has also been spotted. It was first caught on European roads this summer and in the US earlier this month.
Kia EV4 (back) showcased alongside EV9 (left) EV3 (middle), and EV5 (right) (Source: Kia)
Kia EV4 hatch takes on the Nurburgring as debut looms
After the EV4 was spotted racing across the Nurburgring for the first time, we are getting our best look yet at the upcoming Kia model.
The video from CarSpyMedia shows the EV4 hatch carving up sections of the track. Several times, you can see the EV4 is being pushed to the limits, nearly going up on two wheels.
Kia EV4 hatch testing at Nurburgring (Source: CarSpyMedia)
However, with a low center of gravity and likely added stabilization tech, the EV4 appears to handle it with ease. You can also see the difference between the sedan model and the hatchback, with the bulky backside.
As it takes on the track, it almost looks like the 576 hp EV6 GT, Kia’s fastest and most powerful car. At least for now.
Kia EV4 sedan concept (Source: Kia)
Kia is expected to officially reveal the EV4 by the end of the year, with deliveries starting in 2025. Prices are expected to be in the $30,000 to $40,000 range. The hatchback model is likely aimed at Europe, but it could also find a market in the US as buyers drift toward more efficient options.
Ahead of the LA Auto Show later this week, Kia is teasing five new vehicles for the US, at least one being an EV. Will it be the EV4? EV3?
Source: CarSpyMedia
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Elon Musk is hinting at Tesla making bigger electric cars, but you shouldn’t hold your breath as it’s not the first time he said that.
In the last few hours, Musk responded to two fans on X, asking Tesla to build bigger vehicles to support larger families.
Musk often promotes the idea of having bigger families as he is afraid of declining populations due to low birth rates in some countries.
With the first one, the CEO responded with a simple “OK,” and with the other, he elaborated a bit more by referencing the recently unveiled Tesla Robovan and “some other things”:
Musk appears to be hinting at Tesla’s work on a bigger electric vehicle that has yet to be unveiled.
While interesting, it’s hard to give too much weight to the comment, considering Musk claimed that Tesla has been working on a higher passenger capacity vehicle for years.
A “high passenger-density urban transport” vehicle has been in Tesla’s official product roadmap since 2016 and has yet to be unveiled, unless you count the Robovan unveiled last month, but that’s completely attached to Tesla’s self-driving effort as the vehicle has no steering wheel or pedals.
As part of Tesla’s shift toward autonomous driving, the automaker has pulled back plans for several new electric vehicle programs in favor of those without any driver inputs, like Cybercab and Robotvan.
Tesla is expected to soon unveil two new vehicles to be launch next year, but those are based on the Model 3 and Model Y and therefore, they aren’t likely to be bigger vehicles.
Electrek’s Take
Like most things Elon says lately, it goes in my “I’ll believe it when I see it” folder.
That said, I think an electric van that can be configured for cargo, camper, or passenger, would make a ton of sense in Tesla’s vehicle lineup.
Of course, it’s harder to get the greenlight for a vehicle program like that if your CEO is perpetually convinced that the company is on the verge of achieving self-driving and making steering wheels obsolete.
I’m more of the opinion that Tesla should have played it more careful and continue working on growing its human-driveable EV lineup while working on self-driving.
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Penske Truck Leasing is rolling out rooftop solar on its US truck leasing, rental, and maintenance buildings, starting in Illinois.
Penske Truck Leasing, which offers an electric truck fleet leasing program, wants to cut emissions and save energy, so it’s activated its first rooftop solar system at its new facility in Channahon, Illinois (pictured). The 200 kW system is expected to generate about 80% of the building’s energy needs, and the rest will be supplied by the local utility.
The next Penske Truck Leasing rooftop solar system to come online will be in Grand Rapids, Michigan, “in the coming months,” followed by another in Linden, New Jersey, in 2025. All three of these new buildings are part of Penske’s LEED building program, which is designed to reduce energy use and promote sustainability.
Seven of Penske’s existing facilities in California will also get solar retrofits. These locations, which include Fresno, Hayward, La Mirada, National City, Riverside, San Diego, and San Leandro, are expected to generate about 600 kW of renewable energy in total.
Penske has teamed up with Sunrock Distributed Generation under a power purchase agreement to make the California upgrades happen. The company is also working with ForeFront Power, based in San Francisco, as its lead consultant for the solar rollout.
On average, these solar-powered Penske facilities will generate around 1 million kWh of renewable energy each year, preventing about 442 metric tons of CO2 emissions annually. That’s equivalent to the amount of energy needed to power nearly 90 homes for a year.
Drew Cullen, senior vice president of fuels and facility services at Penske, highlighted the significance of this move, noting:
Our solar program is an important piece of our renewable energy strategy, and ForeFront Power continues to be an outstanding partner in helping us bring these projects to fruition.
These investments will allow us to directly generate our own renewable energy to power our locations and continue to support our customers with sustainable solutions.
Penske Truck Leasing, part of Penske Transportation Solutions, is headquartered in Reading, Pennsylvania, and operates over 437,000 vehicles across North America, with nearly 1,000 maintenance facilities and more than 2,500 rental locations. Its investment in solar power is a key part of its broader sustainability strategy to cut emissions and reduce reliance on traditional energy sources.
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