South Korea’s government looks to give domestic automakers Hyundai and Kia a break with its new EV policy. The new EV subsidy policy is in response to price cuts on Tesla’s Model Y and BYD’s models, which use lower-cost LFP batteries.
Targeting Tesla, BYD, and cheaper EV batteries
The revised EV policy is Korea’s attempt to give domestic automakers an edge as they look to level the playing field.
“Tesla dropping prices last year, coupled with the rise of BYD, kicked off a price war in the global EV market,” Yang Jin-Soo, who leads Hyundai’s Business Research Center auto group, explained.
With the market moving past early adopters, “hitting the right price point for the broader market is critical.”
According to The Korea Herald, the new plan sets the maximum grant at around $4,800 (6.5 million won). That’s $225 (300,000 won) less than last year’s policy. The vehicle’s range, price, and battery type determine its eligibility.
The last part, the type of battery, has become a focus of Korea’s new EV policy. Korea announced the changes on Feb 6, including significantly reduced subsidies for EVs with “lower-performance batteries,” like LFP batteries from China.
BYD Seal (Source: BYD)
BYD, which surpassed Tesla to become the top-selling EV maker in the last three months of 2023, dominated the LFP battery market.
According to data from the China Automotive Battery Industry Alliance, BYD held over 40% of the LFP battery market through November. Rival CATL was second with nearly 34% of the market. CATL supplies batteries for Tesla’s best-selling Model Y, sold overseas.
The 2024 Model Y
(Source: Tesla)
Korea is also targeting higher prices, setting a cap at $41,000, down from roughly $43,000 last year.
Korea’s EV policy gives Hyundai and Kia an edge
After introducing its more affordable Model Y last year (with an LFP battery), Tesla saw sales in the country soar. With prices of $16,000 lower than other variants, Tesla’s sales in September rose nearly 876%. It captured about 10% of Korea’s entire 2023 EV market in four months.
Hyundai IONIQ 5 (left) and IONIQ 6 (right) at Tesla Supercharger (Source: Hyundai)
The report notes Tesla’s Model Y accounted for about $24 million of Korea’s subsidies granted last year alone.
Meanwhile, subsidies for Hyundai and Kia EVs, like the IONIQ 5 and EV6, remain mostly unchanged. The IONIQ 5 and EV6 Long Range have 458 km (284 mi) and 475 km (295 mi) range, respectively, with prices around $38,000 and $36,000.
Kia EV6 GT (Source: Kia)
Although below the 500 km (310 mi) benchmark, the models are equipped with NCM batteries, qualifying them for up to $1,300 more than lower-performance alternatives.
Tesla adjusted the price of its Model Y Thursday to $41,000, down from $43,000 and below Korea’s new EV policy threshold. Polestar and VW also dropped prices in response this week.
With the new policy in place, Hyundai’s IONIQ 5 could earn an over $2,800 subsidy gap over the Model Y.
Electrek’s Take
The new EV subsidy plan is viewed as Korea’s response to cheaper foreign models entering the country, like Tesla’s Model Y.
BYD is also planning to begin selling EVs in South Korea within the first half of the year. Sources say the BYD Atto 3 will be the first to roll out. The Atto 3 was BYD’s best-seller last year, with over 100,000 units sold overseas, or 40% of its global EV sales.
The automaker plans to launch other low-cost models like the Dolphin and Seal. BYD’s Atto 3 will compete with the Hyundai IONIQ 5 and Kia EV6.
Hyundai Motor’s outside advisory committee said, “Chinese automobiles are crossing the Great Wall of China and entering the global market like a tsunami.”
Korea’s new EV policy mirrors that of broader international actions like the Inflation Reduction Act in the US and the European Commission’s probe into Chinese EVs.
Meanwhile, others view it as a “band-aid for sales.” Professor Park Chul-wan, a member of the Presidential Commission on 2050 Carbon Neutrality and Green Growth, said, “We could end up only with expensive EVs that hinder mass adoption” by penalizing cheaper batteries.
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Considering that the Cybertruck has turned out to be a commercial flop and Tesla is currently experiencing issues selling it, despite reduced production, the automaker could benefit from a Cybertruck order from the US military.
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It looks like it is about to get one.
According to new documents first obtained by ‘The War Zone‘, the U.S. Air Force Test Center (AFTC) is looking to acquire 33 target vehicles—including two Tesla Cybertrucks—for delivery to the White Sands Missile Range (WSMR) in New Mexico,
The list of requested vehicles includes various sedans, pickups, SUVs, and bongo trucks, but there are no specific brand requirements for those, except for the Cybertrucks.
They plan to use these vehicles as targets for precision-guided weapons. Why would they need a specific vehicle such as the Cybertruck?
In the document, they had to explain the reason behind requesting a vehicle from a specific brand. They wrote:
[Redacted] intends to use specific Tesla manufactured vehicles for target vehicle training flight test events. In the operating theatre it is likely the type of vehicles used by the enemy may transition to Tesla Cyber trucks as they have been found not to receive the normal extent of damage expected upon major impact. Testing needs to mirror real world situations. The intent of the training is to prep the units for operations by simulating scenarios as closely as possible to the real world situations.
It sounds like the justification is that the US military believes that its enemies might start using the Tesla Cybertruck, and it wants to make sure its weapons work on it.
Here’s the document in question:
Electrek’s Take
That’s pretty funny. The US military is buying Tesla Cybertrucks to use as targets to shoot missiles at because they think enemies might start using them.
The jokes write themselves. You read that headline, and you would think that it’s Trump trying to get back to Musk by literally blowing up his dumpster of a truck.
However, the most astonishing aspect is that the US military is not wrong here.
Now, less than a year later, the US military wants to ensure it is equipped to take down Cybertrucks.
Anyway, good for Tesla. It needs all the Cybertruck sales it can get, considering it is currently selling them at a rate of 20,000 per year when Musk aimed for 500,000 a year.
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The Genesis Electrified G80 will no longer be sold in the US. Genesis has already pulled the luxury EV sedan from its website.
Genesis pulls the Electrified G80 EV from its US lineup
The Electrified G80 went on sale in the US in the first half of 2023, but has struggled to gain any momentum. Last year, Genesis introduced an updated model with longer range, more interior space, and added luxury, claiming it’s now at the flagship level.
Those in the US may never get to see it. Genesis has already removed the Electrified G80 from its website, with only the GV60 and Electrified GV70 now listed.
The luxury car maker confirmed to Car and Driver on Wednesday that the electric G80 sedan is no longer being offered in North America.
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Genesis explained that “the customer is at the core of every decision we make, and we remain flexible as we adapt to ever-changing consumer needs and market conditions.”
Genesis Electrified G80 updated model (Source: Hyundai)
The 2024 Electrified G80 was the final model year, and the 2025 version was never sold in the US. Powered by an 87 kWh battery, the Electrified G80 was rated with an EPA-estimated range of 282 miles. Although the updated model boasted a larger battery (94.5 kWh) with increased range (up to 295 miles) in Korea, it still falls short of rivals like the Lucid Air or Tesla Model S.
Genesis sold just 397 models in 2024 and another 77 in the first half of 2025. In comparison, Lucid sold over 5,000 Air sedans in H1, while Tesla has sold 2,715 Model S sedans in the US.
The interior of the new Genesis Electrified G80 update (Source: Hyundai)
Although Korean automakers, including Hyundai, Kia, and Genesis, dodged the maximum 25% tariff, they will still face a 15% duty on imported vehicles. As its slowest-selling EV, it’s no surprise to see Genesis dropping it from its lineup.
With the $7,500 federal tax credit expiring at the end of September, Genesis is pushing big discounts on its remaining EV models.
Genesis is offering an $18,000 EV Lease Bonus on the 2025 Electrified GV70 and $13,750 bonus for the 2025 GV60. Leases currently start as low as $389 per month.
Looking to test one out for yourself? You can use our links below to view 2025 Genesis GV60 and Electrified GV70 models in your area.
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While larger solar generator setups can help through many situations, more and more people are finding convenience in owning smaller backup power solutions, especially here in NYC, with many folks having limited space to keep them. That’s where units like Bluetti’s Elite 30 V2 Portable Power Station come in, which offers a 288Wh LiFePO4 capacity to cover personal device charging with 600W of steady output that can ramp as high as 1,500W.
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Bluetti’s Elite 30 V2 power station has nine different port options to cover all the bases: two AC outlets, two USB-C ports, two USB-A ports, two DC ports, and a car port. It even beats out many counterparts/competitors of the same size range with five ways to recharge its battery: via a standard outlet, utilizing up to a max 200W solar input, using both an outlet and solar panels together, connecting a generator, or using your car’s auxiliary port.
Segway’s Ninebot F3 smart eKickScooter with Apple Find My + proximity locking gets first post-tariff cut to $750
Segway is offering a special promotional discount through August 17 on its new Ninebot F3 Electric KickScooter at $749.99 shipped, after using the code F3AUG100OFF at checkout, which beats out Amazon’s pricing by $50.This model launched back in April carrying a $850 original price tag (which Amazon still keeps it listed for) and has since hiked up to a $1,000 MSRP direct from the brand after May’s tariff hikes. The two pre-tariff discounts we saw took the costs down to $700 and $600 back in April, and while it may not be falling that low any anytime soon again, you’re still looking at a solid $100 savings from its starting rate for the third-lowest price we have tracked.
NIU drops the KQi 300X all-terrain e-scooter with a 37-mile range and regen brakes to $750 in latest sale
NIU has launched its Fan-tastic Day Sale through August 17 that is taking up to 42% off its KQi e-scooter lineup. Some of the brand’s models are still out of stock from last month, but among those still available, we spotted the KQi 300X All-Terrain Suspension Electric Scooter at $749.99 shipped, while also matching in price at Amazon. While it carries a $1,299 MSRP normally, at Amazon we’ve been seeing it mostly staying between $1,049 and $1,198, with discounts having been slowly ramping up over the course of the year. You’re looking at the best price of 2025, which saves you $549 off the MSRP and has only been beaten out by the $731 low we last saw pop up in October 2024.
Add commercial-grade power to your arsenal with Greenworks’ 82V 20-inch cordless chainsaw at a new $430 low
Amazon is now offering the Greenworks Commercial 82V 20-inch Cordless Chainsaw for $429.99 shipped. While it carries a $600 MSRP tag directly from the brand, where it’s currently priced at, we’ve seen it keep lower to $500 at Amazon. It’s been on the market for six months now, with the discounts we’ve spotted only taken the costs down to $450 until today. Now, with the 20% markdown here, you’ll save $70 while equipping your arsenal with commercial-grade power.
Keep uniform lines around yard and gardens with Worx’s 12A 7.5-inch edger/trencher at $90 (Today only)
As part of its Deals of the Day, Best Buy is offering the Worx 12A 7.5-inch Edger/Trencher for $89.99 shipped, with this model being out of stock on Amazon and sitting at a higher $140 MSRP directly from Worx’s website. It normally fetches $130 at full price here, with discounts mostly keeping the costs between $110 and $100 during 2025, though we have seen it go as low as $75 during Prime Day. You’re looking at the fourth-lowest overall price that we have tracked and the third-lowest of the year, with the deal today saving you $40 off the going rate for the rest of the day only.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.