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After achieving a record Q3 profit, Hyundai says it’s standing by its upcoming EV plans. The move comes despite several prominent automakers, including Ford and GM, recently delaying electric vehicle goals.

Hyundai Motor, including Kia and Genesis brands, announced Q3 earnings results Thursday, showing strong profit growth.

The South Korean automaker posted a record Q3 operating profit of $2.8 billion (KRW 3.82 trillion), up 146% from last year. Hyundai’s operating profit margin reached 9.3% compared to 4.1% last year. Meanwhile, net profits more than doubled to $2.4 billion (KRW 3.3 trillion).

Revenue for the quarter was up 8.7% to around $30 billion (KRW 41 trillion). The growth was enough to push Hyundai past Samsung Electronics as Korea’s top earner, according to The Korean Economic Daily.

Hyundai credited the expansion to higher SUV, electric vehicle, and Genesis brand sales. The company sold nearly 169,000 electrified (including hybrid) vehicles, an increase of 33% from last year.

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2023 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai maintains EV plans despite Ford, GM delays

Hyundai expects the sales momentum, including with EVs, to continue due to stronger demand for the brand and improved production.

“We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term.” Seo Gang Hyun, Hyundai’s EVP, told analysts on the company’s earnings briefing (via Reuters).

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Hyundai IONIQ 6 (Source: Hyundai)

The South Korean automaker will continue to “strengthen its global leadership” in EVs as it expects momentum to pick up with its dedicated EVs, including the IONIQ 5 and IONIQ 6.

Hyundai will also launch additional models, including the Hyundai Kona EV, Genesis GV60, Electrified G80, and Electrified GV70, in new global markets.

The company plans to launch 31 EVs under the Hyundai, Kia, and Genesis brands by 2030, including the upcoming three-row IONIQ 7.

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Left to right: Genesis GV60, Electrified GV70, and Electrified G80 (source: Genesis)

Company executives said Hyundai has no plans to cut EV output despite several automakers doing so.

GM announced earlier this week it’s pushing back production of its Equinox, Silverado RST, and GMC Sierra EVs. The company says the move will protect pricing while boosting future profitability.

Ford revealed over the summer it will delay its 600,000 electric vehicle run rate goal until next year, citing that “EV adoption will be a little slower than expected.” The American automaker also revealed it would cut one of three shifts at its Rouge EV plant in Michigan, where the F-150 Lightning is built.

Electrek’s Take

Hyundai and Ford recently slashed prices in the US to keep pace with Tesla, who has been cutting prices all year.

Ford recently introduced new incentives on the Mustang Mach-E and F-150 Lightning as it looks to drive up sales into the end of the year.

Hyundai cut lease prices on the IONIQ 5 and IONIQ 6 in the US earlier this month, offering some of the cheapest rates since launching. The company also revealed Wednesday that 99.9% of the foundation work is complete at its EV and battery plant in Georgia.

Production is expected to begin in 2025, but Hyundai is pushing the project forward as much as possible to gain access to the IRA EV tax credit sooner.

The US is Hyundai’s largest market. Despite Ford and GM delaying EV plans, Hyundai plans to charge full steam ahead as it looks to take advantage.

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Democratic senators blame White House, AI data centers for rising electricity prices

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Democratic senators blame White House, AI data centers for rising electricity prices

Sen. Richard Blumenthal (D-CT) speaks to reporters outside the Senate Chamber of the U.S. Capitol Building on Oct. 1, 2025 in Washington, DC.

Andrew Harnik | Getty Images

Democratic senators on Monday blamed the White House push to fast track artificial intelligence data centers and its attacks on renewable energy for rising electricity prices in certain parts of the U.S.

Sen. Richard Blumenthal of Connecticut, Sen. Bernie Sanders of Vermont and others demanded that the White House and Commerce Department detail what actions they have taken to shield consumers from the impact of massive data centers in a letter sent Monday.

Voters are increasingly feeling the pinch of rising electricity prices. Democrats Mikie Sherrill and Abigail Spanberger campaigned on the issue in the New Jersey and Virgina governors’ races, which they won in landslides last week.

The senators took aim at the White House’s relationship with companies like Meta, Alphabet, Oracle, and OpenAI, and the support the administration has shown for the companies’ data center plans.

The Trump administration “has already failed to prevent those new data centers from driving up electricity prices from a surge of new commercial demand,” the senators wrote. They accused the White House of making the problem worse by opposing the expansion of solar and wind power.

The White House blamed the Biden administration and its renewable energy policies for driving up electricity prices in a statement.

President Donald Trump “declared an energy emergency to reverse four years of Biden’s disastrous policies, accelerate large-scale grid infrastructure projects, and expedite the expansion of coal, natural gas, and nuclear power generation,” White House spokeswoman Taylor Rogers said.

The tech sector’s AI plans have ballooned in size. OpenAI and Nvidia, for example, struck a deal in September to build 10 gigawatts of data centers to train and run AI applications. This is equivalent to New York City’s peak baseline summer demand in 2024.

The scale of these plans have raised questions about whether enough power is available to meet the demand and who will pay for the new generation that is needed. Renewable energy, particularly solar and energy storage, is the power source that can be deployed the quickest right now to meet demand.

Retail electricity prices in the U.S. increased about 6% on average through August 2025 compared with the same period in 2024, according to the Energy Information Administration. Prices, however, can vary widely by region.

Download the full letter here. 

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Europe’s largest battery storage project is being built in Germany

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Europe's largest battery storage project is being built in Germany

Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.

LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.

Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.

LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.

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Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”

The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.

Read more: Battery boom: 5.6 GW of US energy storage added in Q2


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The Genesis GV90 is shaping up to be a real stunner [Video]

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The Genesis GV90 is shaping up to be a real stunner [Video]

The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.

The Genesis GV90 is a stunning flagship SUV

Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.

The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.

We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.

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The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.

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Genesis Neolun ultra-luxury electric SUV concept (Source: Genesis)

A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.

The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.

Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.

Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.

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Genesis Neolum electric SUV concept interior (Source: Hyundai Motor)

The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.

We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.

Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.

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