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The top-selling Hyundai EV is about to become even more attractive. Hyundai says the IONIQ 5 will be the first EV built at its new $7.6 billion EV and battery plant in Georgia, unlocking access to the $7,500 federal tax credit.

After selling nearly 34,000 IONIQ 5 models last year (+48% YOY) in the US, Hyundai’s top-selling EV has not slowed down this year.

Hyundai sold 3,361 IONIQ 5 models in March, a new record. Through the first three months of 2024, 6,822 IONIQ 5 models have been handed over to customers (+18% YOY), also a new record.

Although Hyundai’s second EV, the IONIQ 6, launched in the US last January, IONIQ 5 sales are still nearly double that of the electric sedan. Meanwhile, the electric SUV is still imported from Korea.

Hyundai’s global chief operating officer, Jose Munoz, said it’s a “no-brainer” for the IONIQ 5 to be the first EV built at its new EV and battery Metaplant in Georgia.

In an interview with Automotive News, Munoz said the IONIQ 5 “absolutely is the bestseller.” Munoz added, “So I think it is a no-brainer that it needs to be that one,” referring to Hyundai’s first EV to roll out of the Metaplant.

Hyundai-IONIQ-5-tax-credit
2024 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai IONIQ 5 to gain $7,500 EV tax credit eligibility

The EV production line will be ready in October when Hyundai will begin assembling the IONIQ 5 in the US.

Although the battery unit will open about a year later, Munoz said the expectation is that the IONIQ 5 will gain eligibility for the $7,500 EV tax credit once assembly begins.

Hyundai-IONIQ-5-tax-credit
2024 Hyundai IONIQ 5 (Source: Hyundai)

While Hyundai waits for the battery portion to come online, it will source IONIQ 5 batteries from a factory in Hungary. “We needed the critical components of the battery, the materials of the battery and also the assembly with the proper sourcing,” Munoz explained.

Hyundai, like several automakers, is passing the $7,500 tax credit on for those leasing through a loophole in the Inflation Reduction Act.

2024 Hyundai IONIQ 5 trim

Starting Price
(excluding destination fee)
Price after potential $7,500 EV tax credit
(excluding destination fee)
Range
(EPA est miles)
SE Standard Range $41,800 $34,300 220
SE $45,850 $38,350 RWD: 303
AWD: 260
SEL $47,400 $39,900 RWD: 303
AWD: 260
Limited $53,500 $46,000 RWD: 303
AWD: 260
D100 $59,400 $51,900 260
2024 Hyundai IONIQ 5 prices and trim options

However, that’s about to change this fall. “As of October, we’ll be able to do so as well with retail customers who pay cash or finance. That’s going to be good news,” Munoz said.

Hyundai-IONIQ-5-tax-credit
2024 Hyundai IONIQ 5 interior (Source: Hyundai)

The news comes after Kia announced its first three-row EV9 electric SUV rolled off the assembly line at its West Point, GA plant Thursday. Kia’s EV9 made history as the first EV assembled from start to finish in the Peach State.

Electrek’s Take

Hyundai already has some of the most affordable and fuel-efficient EVs. Hyundai’s electric models account for six of the top ten most fuel-efficient EVs in the US this year.

Starting at $41,800, the IONIQ 5 is one of the best deals on the market. With a $7,500 tax credit, the IONIQ 5 could be bought for as low as $34,300. That would be one of the most affordable electric options in the US.

It will be interesting to see how US production impacts Hyundai’s EV sales. In an exclusive interview with Electrek, Hyundai’s North American CEO told us the automaker is “humble and hungry” to separate itself from the competition (read the full interview here).

If you’re ready to see why Hyundai’s IONIQ 5 is already outpacing the competition, we can help you get started. You can use our link to find deals on the Hyundai IONIQ 5 at a dealer near you.

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Chevy Blazer SS EV first drive, over 600hp and 300 miles of range!

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Chevy Blazer SS EV first drive, over 600hp and 300 miles of range!

Chevy flew us down to Charlotte for some track and road time with the Chevy Blazer SS EV. The 600+ horsepower beast barely hidden beneath the skin of Chevy’s mid-sized SUV is also the quickest ‘SS’ monikered vehicle the company has ever produced. The Blazer SS also has a ton of extras like a standard, robust SuperCruise, which competes favorably with the Performance line from domestic competitors like Tesla’s Model Y and Ford’s Mustang Mach-e GT.

As one could imagine, a trip to Charlotte to test the Chevy Blazer SS should begin at the track. There, we got to experience a few laps at the raceway, along with some 3.4-second wide-open throttle 0-60 times, but not the 11.8-second quarter mile at 115mph that Chevy advertises. I have no doubt that the SS can handle that, especially with the right tires.

But the SS isn’t just a straight line monster, it also is a very respectable track car. The Blazer felt tied to the road with inefficient but huge 22-inch tires, a massive 102kWh Ultium battery and a long 10-foot wheelbase, all tops in the class:

Interior

The interior of the Blazer is definitely sporty and probably a bit polarizing with those jet engine looking vents. Also polarizing is GM’s decision to do away with Carplay and go with Google’s Android based center stack system. I don’t quite follow the logic of not letting people decide but here we are.

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As with other companies utilizing this system like Volvo/Polstar, I think it works pretty great but you can see some of the lag in the video below. Note there have been significant updates since our Blazer first look at the end of last year and it was certainly passable and Google tends to update this stuff pretty frequently.

As for the seats and the cockpit, I’m giving the Blazer high marks. Our 4 hours of driving were easy even through back country roads where Supercruise was almost useless. The wrap around screens are very nice and wow, what a great heads up display. I wouldn’t change a thing here.

One nag coming from a Tesla FSD owner: I wish Supercruise could talk to Google maps better. As it stands, if Google tells you to exit, the highway, Supercruise doesn’t yet listen. GM is working on this.

Blazer SS interior

The Blazer SS is a mid-sized SUV which is a step up size-wize from the Mustang Mach-E or Tesla Model S so there is some additional room there.

303 Miles of range from 102kWh battery

Probably the biggest standout feature on the Blazer SS is not only the speed but also the range over 300 miles. 303 EPA est. to be exact. How did GM do this? The same way they got the Silverado/Sierra to 440 Miles. They just threw a ton of battery at it. In this case 102kWh of batteries compared to 90kWh for the Mustang and 75kWh for the Tesla Model Y P. The Kia EV6 GT drops down to nearly 200 miles when you add the performance package so this is clearly the only vehicle in its class that goes hard on speed AND Range.

Note that you will be able to charge up at 190kWh but I didn’t get to check the charging curve on this one. That’s a respectable speed, but I wonder how nice an 800V architecture would have been for charging. Hyundai/Kia EGMP platform vehicles and Tesla do better here.

Electrek’s take

I liked the Chevy Blazer SS a lot more than I thought I would. The interior is comfortable yet exciting. The exterior is neat. The power and performance are riveting, and the price is respectable. I will definitely recommend the Blazer SS to folks coming off of Model Ys and who are looking for a similar and often better vehicle.

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Lime officially launches new e-bike and electric moped into broader sharing fleets

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Lime officially launches new e-bike and electric moped into broader sharing fleets

Lime, a global leader in shared electric micromobility, is significantly expanding its fleet this spring with the launch of two new vehicles – the LimeBike and LimeGlider.

After a successful series of pilot programs in 2024, Lime announced plans to roll out more than 10,000 of these new electric vehicles across multiple cities in Europe and North America in the coming months.

The introduction of the LimeBike and LimeGlider mark a key step forward for Lime as the company aims to attract a wider range of riders to shared micromobility. Both vehicles feature significant design innovations informed by extensive rider feedback, city partner consultations, and performance data gathered from Lime’s extensive operational experience.

The LimeBike marks the return of the Lime brand’s original name in a refreshed and modern form. Designed specifically to enhance rider accessibility and comfort, the LimeBike features an approachable step-through frame making it easier to mount and dismount.

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Additionally, it has a unique ergonomic clamp design allowing riders to easily adjust seat height. This feature was developed directly from rider feedback, aiming to make the bike more inclusive for riders of different heights and abilities.

Smaller 20-inch wheels give the LimeBike improved handling and a compact feel, making it more maneuverable in dense urban settings.

Unlike European markets, the LimeBike is offered in US markets will also include a hand throttle, allowing riders the flexibility to choose between traditional pedal-assisted cycling and throttle-only operation. This flexibility caters to varying rider preferences and physical abilities, broadening the appeal of the bike in a market where most e-bike riders tend to prefer throttle operation.

The LimeGlider, meanwhile, introduces a completely new vehicle type to Lime’s fleet – a seated, pedal-less electric vehicle designed for effortless riding. Combining the comfort of a seated ride with the simplicity of a scooter, the LimeGlider aims to appeal especially to riders who prefer a less physically demanding ride experience or who may have limitations making traditional scooters challenging.

Designed with rider comfort as a priority, the LimeGlider includes footrests instead of pedals, a large padded moped-style seat positioned lower to the ground to lower the center of gravity, and intuitive ergonomic hand grips to reduce rider fatigue. The green and black colorway sets it apart somewhat from Lime’s usual green and white fleet, further underscoring its new role as a bridge between scooters and bicycles in terms of ride experience.

Both the LimeBike and LimeGlider incorporate several shared improvements aimed at boosting convenience and safety. Wider front baskets offer increased utility for everyday errands and ergonomic phone holders provide secure and accessible navigation for riders. Each vehicle is equipped with 2.5-inch tires optimized for reliable traction in varying conditions.

From the tech side, the LimeBike and LimeGlider represent Lime’s most advanced offerings yet. Lime says that improved location accuracy within the vehicles’ onboard systems ensures quicker identification and responsiveness in recognizing designated parking zones, restricted access areas, and low-speed zones, crucial for compliance with city regulations and enhancing rider safety.

Sustainability has also been central to the design philosophy behind Lime’s latest vehicles. Utilizing modular construction methods, the LimeBike and LimeGlider are among the most repairable vehicles Lime has produced to date. Modular components mean quicker, easier repairs, minimizing downtime and extending vehicle lifespan. Both vehicles share Lime’s proprietary swappable battery technology, common across the company’s Gen4 fleet, streamlining operations and reducing environmental impacts by prolonging battery life and optimizing energy usage.

The pilot tests conducted in 2024 underscored the strong market potential for both vehicles. Lime reported notably positive rider responses, with high rates of repeat usage and longer ride durations, particularly with the LimeGlider. For instance, during the pilot in Seattle and Zurich, riders frequently embarked on journeys exceeding 5 kilometers and averaging over 15 minutes per trip, surpassing the usage patterns of Lime’s existing Gen4 electric bikes.

Building upon these successful pilots, Lime’s spring launch targets several strategically selected cities. The LimeBike is set to roll out in Turin, Italy; Aarhus, Denmark; Nice, France; and Nyon, Switzerland, expanding into areas with established cycling cultures and infrastructure. The LimeGlider debuts in major U.S. cities including Denver, Austin, and San Francisco, markets that Lime identifies as primed for growth in seated, scooter-like micromobility solutions. Both vehicles will also see wider availability in cities like Atlanta, Seattle, and Zurich, where initial pilots indicated strong rider enthusiasm.

Lime’s President Joe Kraus expressed optimism about the new vehicles, highlighting their appeal during early trials: “During our initial pilots last year, it was clear that the LimeBike and LimeGlider earned the love of our riders, with people returning to them frequently for local travel,” Kraus explained. “We’re so excited to take our next step with these vehicles and bring them to more cities this spring.”

The introduction of these vehicles aligns closely with urban policy goals aimed at reducing car dependency and enhancing accessibility for a diverse range of city residents. Lime specifically designed the LimeBike and LimeGlider to meet the needs of traditionally underrepresented micromobility users, such as older riders and women. Enhanced vehicle stability, ease of use, and adjustable features aim to reduce common barriers to micromobility adoption among these groups.

Since its inception in 2017, Lime riders have collectively completed over 750 million rides, covering more than 900 million miles (over 1.5 billion kilometers). This significant uptake of micromobility solutions has translated into meaningful environmental benefits, replacing an estimated 180 million car trips, thereby preventing over 77 million kilograms of CO2 emissions and saving more than 33 million liters of gasoline.

With the launch of the LimeBike and LimeGlider, Lime is poised to significantly build upon these achievements, further shifting urban transportation patterns toward sustainable, inclusive, and efficient micromobility.

Electrek’s Take

I think that Lime’s new LimeBike and LimeGlider are smart additions that feel well-positioned for today’s micromobility market. It’s also great to see Lime include a throttle on the LimeBike for the North American market, where so many riders prefer to ride without pedaling. For casual users and tourists especially, a throttle can make all the difference between choosing to hop on a shared e-bike or not.

Lime clearly listened to rider feedback, and these new models could help pull even more people into using micromobility instead of cars. Let’s just hope they can keep it up.

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Tesla Q1 2025 earnings preview: it’s going to be a messy one

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Tesla Q1 2025 earnings preview: it's going to be a messy one

Tesla (TSLA) will release its Q1 2025 financial results today, Tuesday, April. 22, after the markets close. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.

Here, we’ll look at what the street and retail investors expect for the quarterly results.

Tesla Q1 2025 deliveries and energy deployment

CEO Elon Musk and his loyal shareholders often claim that Tesla is now an AI/Robotics company, but the truth is that the company’s automotive business still drives the vast majority of its financial performance.

Tesla’s revenue remains tied mainly to the number of vehicles it delivers.

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Earlier this month, Tesla disclosed its Q1 2025 vehicle production and deliveries:

  Production Deliveries Subject to operating lease accounting
Model 3/Y 345,454 323,800 4%
Other Models 17,161 12,881 7%
Total 362,615 336,681 4%

It was significantly below expectations and approximately 50,000 units short of what Tesla delivered in Q1 2024.

Analysts have been adjusting their revenue and earnings expectations accordingly since the disclosure a few weeks ago.

Now, Tesla’s energy storage business is also starting to make a meaningful contribution to its financial performance. The company disclosed having deployed 10.4 GWh of energy storage products during Q1 2025.

Tesla no longer discloses solar deployment information.

Tesla Q1 2025 revenue

For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers and now the energy storage deployment data.

However, many were taken by surprise by how low Tesla’s deliveries were this quarter and the automaker offered a lot of discounts, which will affect the average sale price that analysts are now trying to figure out.

The Wall Street consensus for this quarter is $21.345 billion, and Estimize, the financial estimate crowdsourcing website, predicts a slightly lower revenue of $21.254 billion.

Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:

This would be about a $1 billion lower than the same period last year – meaning that analysts don’t expect Tesla’s increased energy storage deployment to compensate for the lower vehicle deliveries.

Tesla Q1 2025 earnings

Tesla claims to consistently strive for marginal profitability every quarter, as it invests the majority of its funds in growth, but its growth has disappeared from its automotive business over the last year, and its gross margin is going in the same direction.

Analysts are trying to estimate Tesla’s gross margin with the lower deliveries to figure out its actual earnings per share.

For Q1 2025, the Wall Street consensus is a gain of $0.41 per share and Estimize’s crowdsourced prediction is a little lower at $0.40.

Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:

If the estimates are accurate, Tesla’s earnings per share would be down from $0.45 during the same period last year.

There are several things that Tesla could do here that could surprise investors with a significant earnings beat. Tesla could have recognized revenue from the launch of FSD in China, even though the launch was brief and 95% of the value of the FSD package is unsupervised self-driving, which Tesla has yet to deliver.

Tesla could have also sold more emission credits. As of the end of last quarter, Tesla was still sitting on a good amount, and while it claims to sell them when the price makes the most sense, it is quite an opaque market and Tesla could at any time decide to sell them just to save itself from a bad quarter.

Other expectations for the TSLA shareholder’s letter, analyst call, and special ‘company update’

As we reported yesterday, this is likely going to be a messy earnings report. Musk has been on a propaganda spree lately after Tesla suffered immense brand damage and declining stock price due to his involvement in politics.

Now, he has called for a “live company update” at the same time as the release of Tesla’s financial results, which appears to be a desperate move at damage control amid a tough quarter for the company.

I expect that he will try to paint a rosy picture of Tesla’s self-driving and robot efforts to come save the company amid declining EV sales.

As I previously reported, I wouldn’t be surprised if he also pushes for Tesla to invest in his xAI startup or proposes a merger between the companies.

Tesla will also take questions from retail shareholders based on the most popular ones on Say. Here are the top 5 questions and my thoughts on them:

  1. Is Tesla still on track for releasing “more affordable models” this year? Or will you be focusing on simplified versions to enhance affordability, similar to the RWD Cybertruck?
    • We have had the answer to that question for about a year now, but Tesla shareholders don’t believe it because Elon claimed that Reuters’ original report that Tesla canceled its more affordable EV was “wrong” when it fact it wasn’t. As we recently reported, Musk killed the “$25,000 Tesla” in favor of the Robotaxi and building new stripped-down versions of Model Y and Model 3.
  2. When will FSD unsupervised be available for personal use on personally-owned cars?
    • Lol – we are just going to get Elon’s “best guess”, which has been wrong every time for the last decade.
  3. How is Tesla positioning itself to flexibly adapt to global economic risks in the form of tariffs, political biases, etc.?
    • Musk is going to say “you go woke, you go broke” and that his pathetic quest to “kill the woke mind virus” will ultimately be good for Tesla because the world will be rid of this destructive virus. As for the global economic risks, I wouldn’t be surprised if Tesla announces more layoffs soon.
  4. Robotaxi still on track for this year?
    • It could very well be. We have already reported in detail about how Tesla’s “robotaxi” launch in Austin, planned for June, is actually a “moving of the goal” and it has very little to do with Tesla’s long-stated promise of delivering unsupervised self-driving in a consumer vehicle, as asked in the second question.
  5. Did Tesla experience any meaningful changes in order inflow rate in Q1 relating to all of the rumors of “brand damage”?
    • If they say no here, don’t believe them. Tesla is down 50,000 units in Q1, and yes, the Model Y changeover has something to do with it, but you can clearly see now, based on new Model Y delivery timelines, that Tesla has no order backlog for the vehicle. It will likely launch incentives to sell the brand-new vehicle that was supposed to save Tesla’s auto business in the coming weeks.

Tune in with Electrek after market close today to get all the latest news from Tesla’s earnings, conference call, and now also an apparent “company update.”

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