Hyundai sold nearly 269,000 electric vehicles last year as IONIQ 5 and 6 spark growth
Hyundai sold 268,785 EVs last year as demand for the IONIQ 5 and IONIQ 6 picked up. The South Korean automaker plans to strengthen its leadership in the EV market, with new models gaining momentum.
Hyundai sold 268,785 EVs in 2023
During the last three months of 2023, Hyundai sold over 57,975 electric vehicles globally. With this, Hyundai’s global EV sales reached 268,785 in 2023.
Hyundai attributed the growth to higher sales of its dedicated IONIQ EVs. Based on Hyundai’s E-GMP platform, designed specifically for EVs, the IONIQ 5 and IONIQ 6 are gaining ground despite rising competition.
The company saw solid sales growth across key markets, including North America, Europe, and India.
Despite higher demand for its EVs, Hyundai is warning of “uncertainty in the business environment.” Hyundai cited external factors such as interest rates for the downbeat outlook.
The automaker said risk factors such as increased exchange rate volatility and higher costs due to rising competition could lead to uncertainty.
Meanwhile, Hyundai said it expects the global auto market to continue growing in the future as the shift to electric heats up. Hyundai is expanding its EV brand as it looks to increase awareness around its IONIQ series.
Carrying the EV momentum into 2024
The automaker expects EV sales to continue growing in 2024. Hyundai expects to sell around 300,000 electric cars in 2024, or about 12% growth from last year.
Hyundai said its investment plans for 2024 include increasing the number of mass-produced models and building its new EV plant in Georgia while continuing to develop future tech.
The company said 99.9% of the foundation work was completed on its massive $5.5 billion EV and battery plant in late October.
Hyundai accelerated construction to take advantage of government incentives like the $7,500 tax credit. Despite its vehicles not qualifying for the tax credit (only through leasing), Hyundai Motor (including sister company Kia) surged past Ford and GM for second in US electric vehicle sales in 2023 behind Tesla.
To make up for the tax credit, Hyundai introduced significant incentives on the IONIQ 5 and 6 models.
For example, Hyundai is offering a $7,500 purchase incentive on the 2024 IONIQ 6. That undercuts the new Tesla Model 3 by $9,300.
Hyundai also introduced the redesigned Kona Electric this year. Starting at $33,000, the 2024 Kona EV is one of the most affordable electric cars on the market. It’s also bigger and more stylish than the previous generation, with faster charging and more range.
Electrek’s Take
Although Hyundai is acknowledging the market is slowing, it still expects EV sales to continue rising. Hyundai continues doubling down on electric vehicles with new technology and unique models built from the ground up.
Despite other automakers like Ford and GM pulling back EV investments, Hyundai has accelerated construction at its GA facility.
The automaker sees an opportunity in the market and looks to take advantage. Hyundai aims to be a top three EV maker by 2030 with 18 new models and two million in sales.
If you’ve been eyeing Hyundai’s electric vehicles, now may be a great time to shop. Hyundai’s EVs are at some of the lowest prices since launching. You can use our links below to find great deals on Hyundai’s EV models at a dealer near you.
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Honda’s electric SUV took the US by storm, becoming the top-selling EV in the US outside of Tesla in the final three months of 2024. This year, Honda is making the Prologue even more attractive, upgrading it with over 300 miles of range. With 2025 Prologue models now arriving at dealerships, Honda wasted no time launching new deals this week.
2025 Honda Prologue EV deals and offers
After the first models were delivered last March, the Honda Prologue quickly became one of the best-selling electric vehicles in the US.
In the second half of 2024, the Prologue was the second best-selling electric SUV, trailing only the Tesla Model Y. This year, it boasts even more driving range and power.
Since Honda didn’t raise prices, it’s essentially a free upgrade (well, sort of). The 2025 Honda Prologue (2WD) now has a “top-class” EPA rating of 308 miles, up 12 miles from the outgoing model. It also packs 220 horsepower (+8) and 243 lb-ft of torque (+7).
The Prologue is still available in single-motor (2WD) and dual-motor (AWD) versions in three trims: EX, Touring, and Elite.
The AWD version now has a range of 294 miles (+13) for the EX and Touring trims and 283 miles (+10) for the Elite. It also now packs 300 horsepower (+12) and 355 lb-ft of torque (+25).
With DC fast charging speeds of up to 150 kW, the electric SUV can add 65 miles of range in around 10 minutes.
The 2025 Honda Prologue starts at $47,400, but with the $7,500 EV tax credit, prices could fall to under $40,000. And that’s for the EX single-motor version with up to 308 miles of range.
On Honda’s website, the 2025 Prologue is listed with a promotional rate of 2.99% APR for up to 60 months. Lease prices for the base model are not yet available, but the 2025 AWD EX is listed at $599 for 36 months with $4,299 due at signing.
Although the deals on the 2025 models are not nearly as good as the 0% financing and leases as low as $269 per month for the 2024 Prologue, Honda had to make up for the upgrades somewhere.
| Trim | Drive Configuration | Pricing | EPA Ratings | |||
| MSRP | After Federal EV Tax Credit | Plus $1,450 D&H |
Range Rating | MPGe Rating (City/Hwy/Combined) |
||
| EX | Single Motor (2WD) | $47,400 | $39,900 | $41,350 | 308 | 113 / 94 / 104 |
| EX | Dual Motor (AWD) | $50,400 | $42,900 | $44,350 | 294 | 108 / 90 / 99 |
| Touring | Single Motor (2WD) | $51,700 | $44,200 | $45,650 | 308 | 113 / 94 / 104 |
| Touring | Dual Motor (AWD) | $54,700 | $47,200 | $48,650 | 294 | 108 / 90 / 99 |
| Elite | Dual Motor (AWD) | $57,900 | $50,400 | $51,850 | 283 | 104 / 87 / 95 |
Honda is sweetening the deal with a charging package included in the Prologue’s price. You can choose from a free Level 2 home charger, a portable charging kit, or a $750 public charging credit.
The 2024 Honda Prologue is selling out fast with ultra-low lease and financing rates, while the 2025 model promises even more. Ready to try it out for yourself? You can use our link to find deals on the 2024 and 2025 Honda Prologue in your area today.
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
![Kia's first electric van looks even better in person [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kias-first-electric-van-PV5-1.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.
Kia’s first electric van spotted in Korea
After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.
With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.
The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.
After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.
With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.
The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.
Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.
Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).
It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.
Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.
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