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).
Kia EV5 battery options and range (Source: Kia)
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 (Source: Kia)
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.
Kia EV5 interior (Source: Kia)
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.
Kia EV lineup from left to right: EV6, EV4, EV5, EV3, EV9 (Source: Kia)
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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A fully electric Isuzu pickup truck? That’s right. The D-MAX EV is Isuzu’s first electric pickup, and it will be rolling in the next few months. After kicking off mass production, Isuzu said the new EV pickup will “match the performance of existing diesel models,” boasting high towing capacity and payload.
Isuzu’s first electric pickup is launching in 2025
Isuzu announced on Tuesday that the D-MAX EV has officially entered mass production. The company has started building left-hand drive models, which will be shipped to Europe in the third quarter of 2025.
By the end of the year, production of right-hand drive models will begin for the UK, with sales expected to start in 2026.
The electric pickup is nearly identical to Isuzu’s popular gas-powered D-MAX, but swaps the diesel powertrain for a pair of electric motors. The D-MAX EV features new e-Axles, one on the front and the other at the rear, for a full-time 4WD system.
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The dual-motor powertrain enables it to match the performance of existing diesel models, with a combined 188 hp (140 kW) and a maximum torque of 240 lb-ft (325 Nm).
It can also tow over 7,700 lbs (3,500 kg) with a maximum payload of over 2,200 lbs (1,010 kg). That’s about the same as the D-MAX diesel, which has a 3,500 kg towing capacity and a payload capacity of up to 1,200 kg.
Powered by a 66.9 kWh battery, Isuzu’s first electric pickup boasts a driving range of up to 263 km (162 miles) on the WLTP. In the city, it can have a driving range of up to 224 miles (361 km).
Isuzu D-Max EV specs
Drive System
Full-time 4×4
Battery Type
Lithium-ion
Battery Capacity
66.9 kWh
Max Output
130 kW (174 hp)
Max Torque
325 Nm
Max Speed
Over 130 km/h (+80 mph)
Max Payload
1,000 kg (+2,200 lbs)
Max Towing Capacity
3.5t (+7,700 lbs)
Isuzu D-Max EV electric pickup specs
Built for on and off-road performance, the rugged electric pickup features over 8″ (210 mm) of ground clearance with a wading depth of nearly 24″ (600 mm).
Although prices have not been announced, the D-MAX EV is expected to start slightly higher than the diesel model, which has a base price of around € 36,500 ($41,600).
Isuzu’s popular D-MAX is sold in over 100 countries, including Europe, Asia, the Middle East, and Central and South America. The electric version will arrive in Europe in the next few months, followed by the UK and other regions in 2026.
The electric D-MAX will compete with the Toyota Hilux, Ford Ranger, and other electric pickups, such as Geely’s Radar R6, BYD’s Shark, and Ford’s F-150 Lightning.
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For the first time in five years, a Tesla insider required to report Tesla stock transactions bought stocks rather than selling them.
But the transaction is so small that it makes the whole situation hilarious.
Insiders in public companies are top executives and board members who are required to report to the SEC any transaction related to the company’s stock.
For Tesla, it has become a running joke that insiders only sell, never buy the stock.
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This has been true without exception for years.
We don’t know as much about executives as Tesla has a very short top executive bench who are required to file transactions. However, when it comes to its board members, they have been selling at an impressive rate.
However, we now have confirmation that a Tesla board member is buying, rather than selling.
Joe Gebbia, the Airbnb co-founder who joined Tesla’s board in 2022, confirmed that he bought 4,000 shares in Tesla last week worth about $1 million:
Electrek’s Take
Gebbia is estimated to be worth over $7 billion. Therefore, his purchase of $1 million worth of Tesla stock would be equivalent to my buying a fractional share in Tesla.
Furthermore, the disclosure confirmed that despite being on the board for the last 3 years, Gebbia owned only 111 shares in Tesla before the transaction.
That’s quite the show of confidence in Tesla.
Thie whole situation with the board is disappointing. Tesla’s core business is melting. The company reported its worst quarter in years last week, and the stock surged 20%.
None of it makes any sense.
The board is sitting on its hands while the most powerful force accelerating the advent of electric transport is being destroyed in favor of nonsensical predictions about the potential of solving self-driving and humanoid robots.
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Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.
PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar figure. PayPal acquired Venmo in 2013 through the acquisition of parent company Braintree.
While it’s long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals like Zelle and Square Cash has intensified.
Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products like Pay with Venmo at online checkout, Venmo debit cards, and instant transfers, but not from peer-to-peer payments.
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Ahead of the earnings report, Jefferies analysts noted that Venmo revenue growth appeared to be “accelerating sharply” and flagged its rising contribution to branded checkout as a key area to watch. Compass Point analysts similarly said that while competition from Zelle and Square Cash remains fierce, Venmo’s traction with debit cards and online checkout could “open up new monetization avenues” if adoption trends continue.
The company added nearly 2 million first-time PayPal and Venmo debit card users during the quarter, and total debit card payment volume across PayPal and Venmo climbed more than 60%. Meanwhile, Pay with Venmo transaction volume surged 50% year over year, and Venmo debit card monthly active users grew about 40%.
PayPal reported better-than-expected earnings for the quarter but missed on revenue. The company reaffirmed its full-year guidance, citing macroeconomic uncertainty.