The Governor of New Nuevo León, Mexico, announced a new (potential billion-dollar) investment from Kia to expand its plant in the region and produce two EVs together with Hyundai. The move comes as the two automakers look to ensure EV models qualify for the IRA tax credit.
After becoming the third largest automaker globally last year, The Hyundai Motor Group, including Kia and Genesis, looks to keep the ball rolling in the new EV era.
Both Hyundai and Kia brands got off to a hot start by releasing the IONIQ 5 and EV6 EV models, based on the auto group’s dedicated E-GMP electric vehicle platform.
With several new releases from all brands under the Hyundai umbrella, including the IONIQ 6, Kona Electic, Kia EV9, and Genesis GV70, the automaker plans to become a top three global EV producer by 2030.
However, after the Inflation Reduction Act’s (IRA) standards set in for new EVs to qualify for the $7,500 tax credit, many Kia and Hyundai models have become ineligible.
Despite breaking ground on its first dedicated EV plant in the US in October, that facility isn’t expected to become operational until 2025.
With North America being Hyundai’s single largest market, representing over a fifth of sales last year, Hyundai is looking for ways to ensure its EVs will qualify for the tax credit to secure its market.
Kia, Hyundai to build EVs in Mexico for IRA tax credit
The Governor of New Nuevo León, Mexico, Samuel Garcia, revealed Kia’s plans on his Twitter this week, initially saying Kia once again bets on Nuevo Leon with a “billion dollar investment to expand its plant and produce two Kia car models” later editing out the billion.
Another retweet from Garcia read, “#Kia announces billion dollar investment to install another plant in #NuevoLeon where it will produce two new electric models in conjunction with Hyundai.”
A translation of Garcia’s own tweet reads, “More good news! Nuevo León consolidates as the ELECTROMOBILITY HUB: KIA once again bets on Nuevo León with an investment to expand its plant and produce two KIA car models.”
From Garcia’s post, it could just be an expansion on the automaker’s existing 400,000-vehicle capacity plant in the area, which began operations in 2016.
According to the images Garcia posted on his account, one of the two electric vehicles could be the new flagship EV9. However, Kia has already said the electric SUV will be built in West Point, Georgia, starting next year as the brand’s first EV assembled in the US.
With the new planned investment, Garcia says, “We will be the state that produces the most electric car models: the Tesla model, the KIA model, and the Navistar electric truck.”
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Executives from TravelCenters America (TA) and BP were joined by local elected officials at a ribbon cutting for the two companies’ first DC fast charging hub on I-95 in Jacksonville, Florida – the first of several such EV charging stations to come online.
Frequent road-trippers are no doubt familiar with TA’s red, white, and blue logo and probably think of the sites as safe, convenient stops in otherwise unfamiliar surroundings. The company hopes those positive associations will carry over as its customers continue to switch from gas to electric at a record pace in 2025 and beyond.
“Today marks a significant milestone in our journey to bring new forms of energy to our customers as we support their changing mobility needs, while leveraging the best of bp and TA,” explains Debi Boffa, CEO of TravelCenters of America. Boffa, however, was quick to – but TA is quick to point out that TA isn’ no’t leaving its ICE customers behind. “While this is significant, to our loyal customers and guests, rest assured TA will continue to provide the same safe and reliable fueling options it has offered for over 50 years, regardless of the type of fuel.”
The charging hub along the I-95 offers 12 DC fast charging ports offering up to 400kW of power for lickety-quick charging. While they’re at the TA, EV drivers can visit restrooms, shop at TA’s convenience store, or eat at fast food chains like Popeyes and Subway. Other TA centers offer wifi and pet-friendly amenities as well – making them ideal partners for BP as the two companies builds out their charging networks.
“As we expand our EV charging network in the US, I am thrilled to unveil our first of many hubs at TA locations,” offers Sujay Sharma, CEO of BP Pulse Americas. “These sites are strategically located across key highway corridors that provide our customers with en route charging when and where they need it most, while offering convenient amenities, like restaurants and restrooms.”
The new e2500-THL and TS electric Ultra Buggies from Toro offer construction and demo crews a carrying capacity of 2500 lbs. (on the TS model), six-and-a-half foot dump height (on the THL), nearly 13 cubic ft. of capacity, and hours of quiet, fume-free operation.
For their open-mindedness, those crews will be rewarded with machines powered by 7 kWh’s worth of Toro HyperCell lithium-ion battery. That’s good enough for up to eight hours of continuous operation, according to Toro – enough for two typical working shifts.
And, thanks to the Toro Ultra Buggies’ narrow, 31.5″ width, they can easily navigate man doors on inside jobs, as well, making them ideal for indoor demolition and construction jobs. A zero-turn radius and auto-return dump mechanism that ensures the tub automatically returns to the proper resting position make things easy for the operator, too.
Toro says that each of its small (for Toro) e2500 Ultra Buggy units can replace as many as five wheelbarrows on a given job site. Pricing is expected to start at about $32,000.
GM has deployed three of its HYDROTEC hydrogen gensets to the Los Angeles area as a way to help generate power for EV drivers and emergency vehicles recovering from the devastating effects of the recent wildfires.
“GM is extending targeted local support to our customers and employees who have been impacted by the California wildfires,” said Duncan Aldred, vice president global commercial growth strategies and operations. “We’re finding ways to help get people back on the road and using our resources to make a difference in the recovery in the weeks and months to come.”
The mobile charging station rollout is part of a broader response to the fires from GM that includes “planned” philanthropic contributions to nonprofits serving affected communities, employee giving campaigns to benefit the American Red Cross Los Angeles region and the California Fire Foundation, and a complimentary subscription to Crisis Assist Services, which enables customers with OnStar-equipped vehicles to get information about the fires, receive routing guidance, and access immediate emergency assistance from an OnStar advisor.
GM also says it’s providing customers with damaged or destroyed GM vehicles assistance toward the purchase or lease of a new GM vehicle, subject to certain terms and conditions, which may include certain qualifications and restrictions. The company will also help cover collision repair deductible costs for damage to GM vehicles incurred from the wildfires – again, subject to certain qualifications and restrictions.
Electrek’s Take
While it’s certainly commendable for GM to take steps in an effort to support wildfire victims, it feels like a company that made more than $19 billion in gross profits in 2023 (and over $20 billion in 2022; 2024 numbers aren’t out yet – but the company did well enough to spend more than $6 billion buying back its own stock) could have done better than announcing “planned” donations and asking its employees to pony up. By my math, GM shareholders could have given each of the 163,000 global employees the company had in 2023 a $36,000 one-time bonus in lieu of those stock buybacks.
That said, how many companies are doing nothing at all? Good on GM for trying, then – here’s hoping others step up, too.