Hyundai announced a massive $50 billion (68 trillion won) investment to secure its position as the auto market transitions to EVs. The Korean automaker will hire 80,000 people in Korea to help it become a top-three EV maker by 2030.
Hyundai plans +$50 billion investment amid EV shift
Hyundai’s new investment is to “secure future growth engines,” including EV tech and software-defined vehicles (SDVs).
Over half of the investment (35.5 trillion won/ $26 billion) will be used for R&D on EV infrastructure and manufacturing to “dominate core technologies.” Another 31.1 trillion won will be used for R&D for EVs, SDVs, and battery tech.
Hyundai will also use the funding to expand EV-specific factories, IT capabilities, and joint investments in affiliates.
The company will first make a “large investment” in a new EV-specific factory. In Q2, Kia’s EV plant in Gwangmyeong will be complete, enabling Kia’s affordable EV3 to go on sale in Korea and overseas.
In the second half of 2025, Kia’s Hwaseong EV plant will begin producing custom PBV electric vehicles.
Kia EV lineup from left to right: EV6, EV4, EV5, EV3, EV9 (Source: Kia)
Hyundai’s new Ulsan EV plant will begin production in the first quarter of 2026, starting with the “Ultra-large” Genesis electric SUV. Once up and running, the plant is expected to produce 200,000 EVs annually.
Genesis unveiled its first full-size luxury electric SUV, the Neolun Concept, earlier this week. The sleek electric SUV will serve as Hyundai’s tech beacon.
Genesis Neolum full-size electric SUV concept (Source: Hyundai Motor)
Hyundai’s luxury brand also announced a new high-performance brand, Magma, that will rival Mercedes-AMG.
The Korean automaker, currently the third-largest globally (including Kia and Genesis), aims to be a top-three EV maker by 2030.
Hyundai IONIQ 5 (left) and IONIQ 6 (right) at Tesla Supercharger (Source: Hyundai)
By then, Hyundai plans to have 31 electric vehicles with 1.51 million annual domestic EV production capacity. Hyundai is already seeing success with its dedicated EV platform (E-GMP) underpinning the IONIQ 5, IONIQ 6, Kia EV6, and Genesis GV60.
Hyundai is set to unveil its first three-row electric SUV, the IONIQ 9, later this year. Ahead of its debut, we got a sneak peek of the EV testing in public.
FTC: We use income earning auto affiliate links.More.
Hyundai’s electric fastback is getting a fresh new look. Just a week after unveiling the redesigned IONIQ 6, we are already getting our first look at it out in the real world. Hyundai’s new IONIQ 6 was spotted driving in Korea, and from the looks of it, this could be a major upgrade.
Hyundai’s new IONIQ 6 looks sleek on the road
Launched in 2022, Hyundai’s “Electrified Streamliner” was expected to challenge the Tesla Model 3 as one of the few electric sedans on the market.
Prices start at under $38,000, and with up to 342 miles of driving range (EPA-est), the IONIQ 6 arrived as one of the most efficient EV options. A Boston Consulting Group report last year even found it to be the only EV that met buyers’ price, range, and charging expectations.
Despite the impressive specs and unique new design, Hyundai’s electric car has failed to live up to expectations. Will a redesign spark some life into the EV?
Advertisement – scroll for more content
Hyundai unveiled the new IONIQ 6 at the Seoul Mobility Show last week, with a few noticeable design changes. With a new ducktail spoiler, the profile is smoother and more natural-looking, which was one of the biggest complaints.
The front and rear are redesigned with slim LED DRLs and main headlamps. Hyundai claims it “enhanced every line and detail to make the IONIQ 6 simpler and more progressive.”
After the new model was spotted driving for the first time in Korea, we are already getting a sneak peek at Hyundai’s refreshed IONIQ 6 on the road.
Hyundai’s new IONIQ 6 spotted driving in Korea for the first time (Source: HealerTV)
The new video from HealerTV gives us a good look at the changes from all angles. The rear spoiler has been upgraded to have a sportier overall look. The new, slim DRLs are a good touch, adding to its aggressive face.
Hyundai also updated the interior with a redesigned steering wheel and better materials on the door trim for “a more premium feel.” Other improvements include a more functional center console and a larger climate control display.
A new IONIQ 6 N will finally join the lineup. Hyundai teased the sporty new N model with an even more aggressive design based on the RN22e Rolling Lab concept.
Although more details will be revealed closer to its launch, we expect other improvements pulled from the 2025 IONIQ 5, like an added NACS port and potentially even more driving range.
What do you think of the new IONIQ 6? Do you like the redesign, or is it still not enough? Let us know your thoughts in the comments below.
FTC: We use income earning auto affiliate links.More.
The 2025 Dodge Charger Daytona EV came in hot – and expensive – when it launched at the end of 2024 with no official rebate. But that’s just changed.
The 2025 Dodge Charger Daytona EV starts at $66,990 including the destination fee. But the actual cost of this luxury muscle car is $78,680 including all the required packages.
And as of April 1, it now comes with a $6,500 National Retail Consumer Cash rebate.
Stellantis Financing continues to offer a special financing rate of 1.9% APR for 72 months, but unfortunately, that can’t be combined with the $6,500 rebate, so you have to choose one or the other.
Advertisement – scroll for more content
If you’re interested in leasing a Charger Daytona EV, then you can get $7,500 in lease cash from Stellantis Financial. Stellantis also offers Chrysler employee pricing to the public, but it can’t be stacked with rebates. How employee pricing works is, dealer pricing is 5% below the dealer invoice and a $200 program fee, plus you can’t haggle over pricing.
CarsDirect notes that the 2024 model still has the best deals on a Dodge Charger Daytona EV, with four options on the table:
0% APR financing for 72 months plus $3,000 in bonus cash
$7,500 National Retail Consumer Cash in addition to $3,000 in bonus cash
$2,000 Conquest Bonus Cash deal in select regions like the West Coast
$7,500 in lease cash plus $6,000 in bonus cash for those who want to lease
Now is a great time to begin your solar journey so your system is installed in time for those longer sunny days. If you want to make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –trusted affiliate partner
FTC: We use income earning auto affiliate links.More.
Although the EV2 is Kia’s smallest EV, it won’t feel so small when sitting in it. Kia designed the open interior to give you an escape from the city. After sharing new details at Milan Design Week on Thursday, Kia gave us a closer look at the EV2 inside and out. The new interior design could see its way into future Kia EV models.
Kia EV2 interior is small but flexible
At Milan Design Week 2025, Kia held an exclusive exhibition for its upcoming EV models. The Concept EV2 was showcased alongside Kia’s first electric van, the PV5, and a rugged PV5 WKNDR concept.
Kia revealed new details about the EV2’s interior and what we can expect to see when it arrives. Inspired by a “picnic in the city,” the cabin is designed to feel as open and flexible as possible.
Like a balcony or porch, which offers a relaxing retreat from busy city life, Kia wants the EV2 to have a similar feel. Thanks to its flat-floor layout, the interior can open up with flexible seating. The second-row seats can fold up while the front seats slide up to provide an open space—you know, where you might want to have a picnic.
Advertisement – scroll for more content
Kia Concept EV2 interior (Source: Kia)
Kia added a few extras like integrated speakers in the headrest, portable door speakers, detachable seat cushions, extendable seats, and pop-up luggage dividers for your next adventure.
Even with the fun features, Kia focused on sustainability. The interior introduces environmentally conscious materials like Simplifyber Fybron™, AmpliTex, and biodegradable mycelium components.
Kia said the new design elements showcase its vision for future EV interiors. More details will be shared closer to the launch, but the EV2 is expected to include Kia’s new ccNC infotainment system.
As shown in the concept, the system features a curved display with dual 12.3″ driver and infotainment screens. Despite being an entry-level model, the EV2 will have advanced features like vehicle-to-load (VTL) to power up electronics or home appliances. It will also get smarter and more advanced over time with OTA updates.
Last month, we got our first look at Kia’s entry-level electric SUV on the road in Korea with a Soul-like design. Kia will launch the EV2 in Europe and other global markets next year.
Like other Kia electric models based on Hyundai’s E-GMP platform, the EV2 is expected to arrive with a WLTP range of at least 300 miles (605 km). Although prices will be revealed closer to launch, the EV2 is expected to start at around 30,000 euros ($33,000), but that could change in another year or so.
How do you feel about the Kia EV2? Would you buy one for around 30,000 euros ($33,000)? Let us know in the comments. We should learn more soon. We’ll keep you updated with the latest.
FTC: We use income earning auto affiliate links.More.