The Hyundai Motor Group unveiled its next-gen EV platform this week, designed to support 13 new EV models from the Hyundai, Kia, and Genesis brands. Hyundai’s CEO confirmed the new platform will allow the automaker to produce EVs in all segments, including electric trucks.
During its 2023 annual investor day, Hyundai said it’s leveraging its established position “amidst a seismic change in the industry” with a KRW 35.9 trillion ($27.8 billion) investment to advance EVs.
Hyundai has taken advantage of the shift so far, introducing new electric models with bold designs and advanced technology, including the IONIQ 5 electric SUV and Kia EV6 crossover.
Between the IONIQ 5 and IONIQ 6, Hyundai’s first two dedicated EVs, the automaker recorded over 100,000 in global sales last year. The group (including Kia and Genesis) plans to become a top three EV producer by the end of the decade.
The investment will help it reach its new target of hitting two million in EV sales annually by 2030. A big part of the transformation will include its Integrated Modular Architecture (IMA) for next-gen EVs.
Hyundai Santa Cruz crossover truck concept (Source: Hyundai)
Is Hyundai or Kia developing an electric truck?
Set to replace Hyundai’s current E-GMP platform, the IMA is a “significant advancement’ enabling maximum flexibility. The IMA platform will cover more than mid-size SUVs. Instead, Hyundai’s CEO Jaehoon Chang explained:
It encompasses nearly all vehicle classes, ranging from small and large SUVs to pickup trucks, along with the flagship models of the Genesis brand.
Although no other details of the EV pickup were offered, Hyundai’s sister company, Kia, has already announced plans to introduce two electric trucks to its lineup.
2024 Kia EV9 GT-Line (Source: Kia)
During its investor day last year, Kia revealed it planned to launch at least two EVs per year as it works toward a full lineup of 15 electric models by 2027, including two electric pickups. One will be a dedicated electric pickup truck, while the other will be a strategic model for emerging markets.
After releasing its first three-row SUV, the new flagship EV9 (which began deliveries in South Korea this week), Kia revealed plans to introduce an EV in every segment with support from Hyundai’s new platform.
2024 Kia EV9 GT-Line (Source: Kia)
On the other hand, Hyundai could be developing an electric truck under its own brand, with its first pickup (the Santa Cruz) gaining momentum in the US. It could even be a Genesis electric truck.
Electrek’s Take
Hyundai (and Kia) see the opportunity with electric trucks. Its first truck on the market, the Santa Cruz, continues seeing rising sales (up 12% YOY in May) after sales climbed 263% in 2022.
More importantly, nearly every electric truck released in the US so far is seeing overwhelming demand that automakers are still working through years of backlog. With recent battery advancements, electric trucks are more capable than ever, with long-range and towing capabilities.
If Hyundai or Kia put an electric truck out at the right price, it would find a market in the US, in my opinion.
What do you think? Would you buy a Hyundai or Kia electric truck? Let us know in the comments.
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The sun has set on a frantic day of scrutineering at this year’s Electrek Formula Sun Grand Prix (FSGP), as teams scramble to qualify for a spot on the starting line tomorrow morning. Electrek FSGP 2025 is shaping up to be one of the event’s most attended ever, thanks to a strong showing of first-time and returning schools. But that also means new and unproven vehicles on the track.
Today, I walked through a couple of bays and talked with a few of the teams able to spare a minute; almost all of them were debuting completely new cars that were years in the making. Building a solar car is no easy feat. It’s not just the engineering and technical know-how that’s often a hurdle for them; it’s more often monetary. However, one of the things that makes this event so special is the camaraderie and collaboration that happen behind the scenes.
Northwestern University is back with a completely new car this season, its eighth since the team’s original inception in 1997 during the GM Sunrayce days. Its motor controller, which is responsible for managing the flow of power from the batteries to the motor, was given to them by the Stanford team. Stanford had extras and could spare one for Northwestern, which needed a replacement. It doesn’t stop there. Two members of the Northwestern team (Shannon and Fiona) told me four other teams helped them with a serious tire replacement around 1 a.m. Wednesday morning, saving them from missing important parts of scrutineering.
This is also an exciting year for the West Virginia team, which is celebrating its 35th anniversary as a solar car team, making them one of the oldest teams on the track. With age comes wisdom though: WV is competing again this year with its single-occupant vehicle, Sunseeker. The team ran into issues after last year’s American Solar Challenge (ASC) cross-country event when the vehicle’s control arm, an important part of the suspension that connects the wheels to the chassis, broke. They tell me this year they’re back with a completely redesigned control arm made of both aluminum and steel. Thank you, Hayley, John, and Izzy, for taking the time to talk.
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We’re also seeing new builds this year from the University of Florida, the University of Puerto Rico, NC State, and UC Irvine. Believe it or not, the latter team has never competed in an American Solar Challenge/Formula Sun Grand Prix. This is their first year. UC Irvine doesn’t expect to be on the starting line tomorrow but hopes to be on the track soon after.
University of Puerto RicoUniversity of California Irvine
On the other hand, we have tried-and-proven cars like my personal favorite, Polytechnique Montréal’s Esteban, which undergoes minor improvements each year. I talked a little bit with this team today, and they told me the car’s motor was dropped, disassembled, and cleaned in preparation for the event. Polytechnique Montréal has passed scrutineering and will appear on the starting line tomorrow.
Polytechnique Montréal
Teams that haven’t wrapped up scrutineering in the last three days can still complete it, though doing so will eat into time on track.
You can learn more about the different classes and the specific rules here.
I’ll continue to post more updates as the event continues!
2025 Electrek FSGP schedule
The 2025 Electrek FSGP will again be held at the National Corvette Museum Motorsports Park in Bowling Green, Kentucky, which, interestingly enough, General Motors occasionally uses for Corvette testing and development. A bit of a full-circle moment being so close to the company that started it all.
The event is open to the public and FREE to attend. Come see the solar car race up close!
Racing starts on July 3 from 10am to 6pm CT and continues through July 5 from 9am to 5pm CT.
Featured image via Cora Kennedy for Electrek FSGP/ASC.
Note: The Formula Sun Grand Prix is not in any way associated or affiliated with the Formula 1 companies, FORMULA 1 racing, or the FIA Formula One World Championship.
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
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“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Read more CNBC tech news
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.