Kia is following in Ford’s footsteps after suddenly announcing plans to introduce more hybrids as it expects slower EV demand. To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year.
After global sales slipped 2% last month, Kia is shaking things up with a new mid-to-long-term business plan.
The new strategy, revealed at Kia’s 2024 CEO Investor Day on Friday, is centered around electrification. Kia announced that it is shifting its electric vehicle plans to include more hybrids and affordable EVs.
Since its major re-brand in 2021, Kia has made noticeable changes in its products, design, and marketing efforts.
Kia’s president, Song Ho-Sung, announced Friday that “We are responding effectively to changes in the automobile market” with a new mid-to-long-term strategy.
The company is actively responding to changes in the market with increased competition and geopolitical uncertainties. In response to “the slowdown in EV demand growth,” Kia plans to launch more hybrids while introducing new low-cost electric models.
Kia limited edition Forest Green EV6 (Source: Kia)
Kia expects the EV growth rate will be slower than expected from now until 2026 due to a deteriorating global economy and decreased subsidies.
Kia to strengthen lineup with new hybrids, affordable EVs
The Korean automaker is launching hybrid versions of its most popular models, like the Carnival HEV, launched last year. Kia plans to have six HEVs in its lineup this year, eight in 2026, and nine in 2028.
With the new models, Kia expects hybrids to account for 12% of global sales, or around 372,000 units this year. In 2028, Kia expects the number to rise to 19% of sales, with around 800,000 units sold.
Kia EV lineup from left to right: EV6, EV4, EV5, EV3, EV9 (Source: Kia)
Kia is not abandoning fully electric cars. It plans to boost demand by launching a series of new affordable EVs.
Kia will introduce six affordable EVs in major markets, including North America, Korea, and Europe. These will include the EV2, EV3, EV4, and EV5, revealed during Kia EV Day in October.
The new EVs are part of Kia’s wide-ranging lineup covering nearly all segments with prices between $30,000 and $80,000.
Kia EV5 electric SUV (Source: Kia)
Kia expects sales of its low-cost EV models to reach 131,000 this year (43% of EV sales), 263,000 in 2025 (55% of EV sales), and 587,000 in 2026, or 66% of total electric car sales.
Kia already launched the EV5 in China with starting prices of around $20,000 (149,800 yuan), undercutting much of the competition. In Australia, it’s expected to start at around $46,000 (AUD 70,000).
Kia EV3 concept (Source: Kia)
The EV3 is expected to launch this year (If not early 2025) starting at around $30,000 as the brand’s “vision of an all-electric compact crossover.” It takes much of the tech and design of its flagship EV9 and puts it into a smaller, more affordable package.
Kia’s EV4, an entry-level electric sedan, is expected to follow next year with starting prices around $35,000.
Kia EV4 concept (Source: Kia)
Two of Kia’s dedicated EV factories in Korea are expanding production of low-cost models as the brand looks to fend off low-cost Chinese rivals like BYD.
Kia expects overall EV sales to reach 307,000 this year, 1.147 million in 2027, and 1.6 million in 2030. The brand will continue advancing battery tech to improve the range and energy density of its vehicles.
Electrek’s Take
Kia is following Ford (and several others), which announced plans to delay its three-row electric SUV this week. Like Kia, Ford is looking to fill the gap with hybrids and affordable EVs.
However, Ford’s new low-cost electric vehicles will not be available until 2026. They are expected to include a smaller electric pickup and SUV, starting at around $25,000.
Kia already has an affordable EV and is expected to launch several more by 2026. The Korean automaker also introduced a three-row electric SUV to the market with the EV9.
In the US, Kia EV9 sales topped 4,000 in the first three months of 2024 after launching late last year. The EV9 starts at under $55,000 and has more rear legroom than the Cadillac Escalade and Range Rover P400 3-row, both of which cost over $80,000.
The shift to hybrids and lower-cost EVs comes as Kia sees global economic conditions deteriorating. Kia is still planning to transition to EVs, but due to the global economy, the automaker sees demand for EVs slowing over the next two years. It believes lower-cost models will help fill in the gap.
FTC: We use income earning auto affiliate links.More.
The Tesla Solar Roof tiles are still alive, but the product is on the back burner at Tesla as it failed to achieve its promises.
When launching the solar roof in 2016, CEO Elon Musk presented it as a critical product to accelerate solar power deployment, as it opens up the market to people who want to go solar but also need to replace their roof soon.
However, Tesla didn’t reach volume production of the solar roof tiles until 2020, and even then, it was at a fraction of the deployment it was aiming for.
Advertisement – scroll for more content
In 2022, Electrekreported that Tesla installed solar roofs for the first time and confirmed that the Company deployed 2.5 MW of solar roofs during the second quarter of 2022, equivalent to approximately 23 roofs per week, which is far short of its goal.
Tesla shifted its focus on deploying Powerwalls and solar inverters through third-party installers.
The same thing is happening with Tesla’s solar roof tiles. The company appears to be giving up on installing them itself, but some installations are still happening with third-party certified installers.
Tesla doesn’t even give online quotes on its solar roof anymore and has people submit requests for quotes through third-party installers:
“In order to receive pricing and product information, Tesla will share your contact information with a Tesla Certified Installer.”
We are hearing less about solar roof installations lately, as Tesla has gone virtually silent on the program; however, some ongoing installations are still being carried out by third-party installers.
Weddle and Sons Roofing just posted about a new 20 kW Tesla Solar Roof installation in Topeka, Kansas:
It’s challenging to determine the exact deployment rate of the solar roof, but based on our checks with a few installers, it doesn’t appear to have increased since 2022.
Tesla-certified installers are even convincing potential buyers to opt for a regular roof with solar panels instead of a solar roof. Potential buyer Jeff Betty shared this text from an unnamed installer:
This is not entirely surprising, as the primary issue with the Tesla Solar Roof tiles is their pricing. Tesla aimed for the solution to be competitive with higher-end roofing options, but it remains expensive and much less affordable than many durable roof options, plus solar panels.
Electrek’s Take
In short, the Tesla Solar Roof is still alive, but it’s nowhere near the revolutionary product Tesla claimed it would be.
Instead, it has become a very niche higher-end roofing product that Tesla deploys in very low volume through third-party installers.
It’s not in any way a significant part of Tesla’s energy business, which is now almost entirely Megapacks and Powerwalls.
While Tesla’s solar roof is not for everyone, now is a great time to go solar with rooftop solar panels.
If you want to make sure you’re finding a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage. EnergySage is a free service that makes it easy for you to go solar – whether you’re a homeowner or renter. 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 you 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.
FTC: We use income earning auto affiliate links.More.
For the Valen Rev+, Retrospec managed to get the best out of that iconic moto-style scrambler spirit and put it into a comfortably handling fat tire e-bike while also keeping the performance bits that make it fun, and the best part is it comes at a reasonable price of just under $1,800
Aside from the looks and price this bike has a unique fun factor that comes from a combination of a few key components here.
One is the 20 by 4.0 inch Fat MTB tires with puncture protection and reflective sidewalls. Aside from these tires offering an extra layer of protection and suspension, Retrospec’s decision to offer wide tires also gives way more stability than a typical bike tire, which makes going through ruts, mud, or sand pretty effortless.
The second key component is the front suspension, which is fully adjustable and has 100mm of travel. Combined with the extra suspension from the fat tires, as mentioned earlier, this makes otherwise challenging terrain turn into fun detours that you’ll likely go out of your way to use.
Advertisement – scroll for more content
The third component is the 750w rear hub motor, which gives the bike a 28 mph assisted top speed. Combined with the secure handling and added front suspension, the Valen Rev+ is the kind of bike you want to plan an adventure with. Whether that’s a dirt road shortcut on your commute or a day to the beach, the comfortable long seat makes it hard to say no to a trip with the Valen Rev+
On the practical side, Retrospec put some significant thought into the design and build of this bike to ensure that riders are cared for with those often less thought of yet still essential features. Starting with the battery, the fully integrated 720Wh battery uses LG 21700 cells for a total of 68 miles of range when fully charged. In addition, the battery is lockable and easily removable for both on- and off-bike battery charging. It’s also seamlessly integrated into the bike’s frame, making for a clean look.
For safety, Retrospec added Tektro hydraulic disc brakes with e-bike-specific rotors, which is an important upgrade, considering an improved rotor typically allows for better heat dissipation and better overall performance. There are also Integrated front and rear lights with 100 Lux illumination for the front. Safety aside, the design here for the front light looks amazing.
For the less thought-of yet essential features, Retrospec included an easy-change rear wheel removal system that uses braze-ons located at the lower part of the bike, so there’s no need to remove zip ties. Unlike other e-bikes, the Valen Rev+ kept it simple with the same axel nut for both the front and rear which means fewer tools, but what makes the process itself a lot easier is not having to wrestle the chain when re-installing the wheel thanks to the chain hanger.
One of the great feelings of the Retrospec Valen Rev+ e-bike is how simple yet stylish it is; the display is a center-mounted color display with controls on the left-hand side of the handlebars. The control panel has only three buttons, so it’s as simple as it gets. With the up or down control, you can change through 6 levels of pedal assist, but if you’re looking for more control, you can also use the controls on the right side of the handlebars to cycle through the eight speeds on the Shimano Altus derailleur.
For how comfortable the moto-inspired Valen Rev+ is, it also feels great to pedal on in case you’re looking for more exercise and want to opt for the pedal assist rather than the throttle only. Unlike other e-bikes on the market, Retrospec’s Rev+ makes riding very approachable. For those who are newer to riding, that long seat and wide tires add a level of stability, making the overall learning experience much more enjoyable. With how comfortable the bike rides, it might make you think more about leaving the car at home more often and opting for the bike paths.
For those looking to get as much fun as possible out of an e-bike aside from the fat tires and front suspension, Retrospec’s BMX style handlebars offer excellent geometry and height that gives you much more control over the bike in case you wanna stand up and tackle some of the more challenging trails. In addition, if you’re looking to forget pedaling altogether, you could even choose to get the optional footpeg accessories, which, combined with the BMX-styled handlebars, will make the bike much more functional for off-road riding.
Overall, Retrospec seems to have put a lot of effort into bringing that scrambler moto spirit into a comfortable bike with loads of features that other manufacturers haven’t quite nailed down. From the easy rear wheel removal to the BMX-styled handlebars and comfortable long seat, it’s a very approachable and easy-to-maintain e-bike that can still rip on trails for those who want to tackle more of that tough off-road terrain.
FTC: We use income earning auto affiliate links.More.
I’ll cut right to the chase. The new Model Y rival from Mazda is coming for the Y’s old sales crown with a starkly elegant 26.45-inch 5K ultra-wide display with dual screens and (get this) a massive 100″ (!) augmented reality heads-up display (AR-HUD) that projects key driving information onto the windshield, alerting the driver of pedestrians, speed limits, etc.
You can check it out for yourself, below.
Mazda EZ-60 interior revealed
Via Planet Car News.
As you can see, the interior largely eschews buttons, knobs, or physical interfaces of any kind in favor of touchscreens. Those screens enable EZ-60 drivers and passengers to control and adjust a 23-speaker, 7.1.4-channel Dolby Atmos audio system, while a separate touchscreen in the rear allows drivers passengers to adjust climate and entertainment settings for themselves.
Advertisement – scroll for more content
Other interior features include super-slick digital wing mirror displays (the exterior “side mirrors” are aerodynamic cameras), and fully twenty kid- and family-friendly storage compartments sprinkled liberally throughout the vehicle. A relatively small 350-liter (12.3 cu ft) rear trunk expands to 2,036 liters (71.9 cu ft) with the seats folded flat. A 126-liter frunk (4.4 cu ft, or about the size of the mini fridge in your college dorm) adds extra practicality.
The electric Mazda SUV itself is built on the Changan EPA1 platform, and is believed to be powered by an 80 kWh battery good for 295 miles of WLTP range, and a 93 kW charging speed that can take the EZ-60 from 30 to 80% charge in a little over 30 mins.
Following the crossover’s Chinese launch – officially slated for April 23rd. Changan Mazda plans to release the EZ-60 in overseas markets under the Mazda CX-6e nameplate.
Electrek’s Take
EZ-60 electric crossover SUV; via Changan Mazda.
Mazda is on a hot streak right now – and not just in China, but in the US as well. The brand’s near-premium positioning is perfect, targeting middle class buyers who are willing to pay a premium to drive a vehicle with better fit and finish than the Ford, Chevy, and Stellantis offerings – but not enough of a premium to justify a move into Acura/Volvo territory. And, frankly, no one in the industry is doing paint as well as Mazda right now. Not until you start doubling the Mazda’s MSRPs, anyway.