Kia is growing in China as most foreign automakers are rapidly losing market share. Foreign automakers like Toyota, Volkswagen, and GM are struggling to keep up with aggressive price cuts and an influx of new competition. After launching its new low-cost electric SUV, the EV5, Kia is already seeing the results, as brand sales in China topped 20,000 for the third straight month in August.
Kia officially unveiled the EV5 at the Chengdu Motor Show last August, claiming it “brings a new era of electric mobility to the compact SUV sector.”
The EV5 shares much of the design and tech from Kia’s larger EV9 but in a smaller, more affordable package. At 4,615 mm long, 1,875 mm wide, and 1,715 mm tall, the EV5 is roughly the size of Tesla’s Model Y (4,760 mm long x 1,921 mm wide x 1,624 mm tall).
Powered by a 64.2 kWh BYD Blade Battery, the EV5 gets up to 329 miles (530 km) CLTC driving range. The longer-range (88.1 kWh battery) model is rated with up to 447 miles (720 km) driving range.
Kia launched the EV5 in China last November, starting at just $21,000 (149,800 yuan). The price undercuts the Model Y, which starts at around $35,000 (249,900 yuan).
According to Kia’s Chinese joint venture partner, Jiangsu Yueda Kia, the EV5 is already making an impact.
The company announced it sold 22,498 vehicles in August, up 36% from last year. August was Kia’s best month so far in 2024 and its third straight month of topping 20,000 in brand sales.
Kia EV5 charges up sales streak in China
“By sustaining monthly sales of over 20,000 units, Kia has shown it’s on the right path in China,” Kim Sung-rae, a Hanwha Investment & Securities market analyst said.
Kia’s sales in China, including exports, reached 154,243 through the first eight months of 2024, a 61% jump from last year.
According to TheKoreaHerald, Kia is now a top-selling brand among joint venture automakers in China.
Kia expects to sell over 230,000 vehicles by the end of 2024 at its current pace. If Kia hits its mark, it would be the first time it has crossed the 200,000 sales mark since 2020.
The EV5 has been a key factor as Kia revamps sales in China. Kia sold nearly 6,000 EV5 models in China through July.
Kia exports in China are also surging. As of August, its Yancheng plant exported over 300,000 vehicles, the highest among joint venture partners in China.
Electrek’s Take
While many foreign automakers have struggled to keep pace in China’s fast-moving EV market, Kia is taking advantage.
Earlier today, Electrek reported (based on a Bloomberg report) that Volkswagen’s Chinese joint venture with SAIC is eyeing a possible plant closure due to overcapacity.
Kia’s new low-cost EV5 is helping the brand compete with domestic automakers like BYD, which dominate the market. BYD’s Seagull EV, which starts at under $10,000 (69,800 yuan), was China’s top-selling car in August, with nearly 41,000 models sold
Kia is launching the EV5 in new markets like Australia and New Zealand later this year, likely boosting sales further.
China is not the only market in which Kia’s sales are surging. Last month, Kia sold more vehicles in the US than it ever has. With over 75,200 cars sold in August, Kia topped its US sales record for the third consecutive month.
Kia’s first three-row electric SUV, the EV9, is helping drive growth in the US. Through August, Kia has sold nearly 13,900 EV9 models in the US this year.
With a series of low-cost EVs, including the EV3 and EV4, rolling out globally, Kia will be a brand to watch over the next few quarters as it takes on market leaders.
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Wind energy powered 20% of all electricity consumed in Europe (19% in the EU) in 2024, and the EU has set a goal to grow this share to 34% by 2030 and more than 50% by 2050.
To stay on track, the EU needs to install 30 GW of new wind farms annually, but it only managed 13 GW in 2024 – 11.4 GW onshore and 1.4 GW offshore. This is what’s holding the EU back from achieving its wind growth goals.
Three big problems holding Europe’s wind power back
Europe’s wind power growth is stalling for three key reasons:
Permitting delays. Many governments haven’t implemented the EU’s new permitting rules, making it harder for projects to move forward.
Grid connection bottlenecks. Over 500 GW(!) of potential wind capacity is stuck in grid connection queues.
Slow electrification. Europe’s economy isn’t electrifying fast enough to drive demand for more renewable energy.
Brussels-based trade association WindEurope CEO Giles Dickson summed it up: “The EU must urgently tackle all three problems. More wind means cheaper power, which means increased competitiveness.”
Permitting: Germany sets the standard
Permitting remains a massive roadblock, despite new EU rules aimed at streamlining the process. In fact, the situation worsened in 2024 in many countries. The bright spot? Germany. By embracing the EU’s permitting rules — with measures like binding deadlines and treating wind energy as a public interest priority — Germany approved a record 15 GW of new onshore wind in 2024. That’s seven times more than five years ago.
If other governments follow Germany’s lead, Europe could unlock the full potential of wind energy and bolster energy security.
Grid connections: a growing crisis
Access to the electricity grid is now the biggest obstacle to deploying wind energy. And it’s not just about long queues — Europe’s grid infrastructure isn’t expanding fast enough to keep up with demand. A glaring example is Germany’s 900-megawatt (MW) Borkum Riffgrund 3 offshore wind farm. The turbines are ready to go, but the grid connection won’t be in place until 2026.
This issue isn’t isolated. Governments need to accelerate grid expansion if they’re serious about meeting renewable energy targets.
Electrification: falling behind
Wind energy’s growth is also tied to how quickly Europe electrifies its economy. Right now, electricity accounts for just 23% of the EU’s total energy consumption. That needs to jump to 61% by 2050 to align with climate goals. However, electrification efforts in key sectors like transportation, heating, and industry are moving too slowly.
European Commission president Ursula von der Leyen has tasked Energy Commissioner Dan Jørgensen with crafting an Electrification Action Plan. That can’t come soon enough.
More wind farms awarded, but challenges persist
On a positive note, governments across Europe awarded a record 37 GW of new wind capacity (29 GW in the EU) in 2024. But without faster permitting, better grid connections, and increased electrification, these awards won’t translate into the clean energy-producing wind farms Europe desperately needs.
Investments and corporate interest
Investments in wind energy totaled €31 billion in 2024, financing 19 GW of new capacity. While onshore wind investments remained strong at €24 billion, offshore wind funding saw a dip. Final investment decisions for offshore projects remain challenging due to slow permitting and grid delays.
Corporate consumers continue to show strong interest in wind energy. Half of all electricity contracted under Power Purchase Agreements (PPAs) in 2024 was wind. Dedicated wind PPAs were 4 GW out of a total of 12 GW of renewable PPAs.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the official unveiling of the new Tesla Model Y, Mazda 6e, Aptera solar car production-intent, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.
What we know about the BYD Han L EV so far
We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.
BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.
The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.
BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.
To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).
BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.
At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).
Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.