Hyundai to launch new INSTER EV in the UK starting under ,000

Hyundai to launch new INSTER EV in the UK starting under $31,000

Published

1 month ago

October 4, 2024

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Hyundai is preparing to launch its first small EV in Europe. The new Hyundai INSTER EV will challenge low-cost EVs in the UK after the company announced that prices will start at under $31,000 (£23,495).

After unveiling the INSTER EV (launched as the Casper Electric in Korea) in June, Hyundai said the electric city car offers “segment-leading driving range” and advanced new tech.

You can instantly see Hyundai’s new design elements, such as the pixelated front bumper design, similar to its IONIQ models. Hyundai also included its signature LED daytime running lights and pixel-graphic turn signals to stand out in the electric era.

Hyundai claims that the electric INSTER, with up to 229 miles of driving range, “redefines what is possible from a small urban EV.”

Despite its small size, Hyundai claims the compact SUV still has plenty of interior space. Based on its gas-powered Casper, sold in Korea, Hyundai stretched its body and wheelbase, making it “ideal for city driving.”

Hyundai reveals INSTER EV prices and specs for the UK

At 3,825 mm long, 1,610 mm wide, and 1,575 mm tall, with a wheelbase of 2,580 mm, Hyundai’s INSTER EV is even smaller than the Kia EV3, Volkswagen ID.3, and Volvo EX30.

Hyundai announced INSTER EV prices start at around $30,800 (£23,495) in the UK. That’s for the 01 trim. The 02 trim costs $35,000 (£26,745) and includes front parking sensors, LED projection headlamps, privacy glass, and roof rails. Inside, the 02 model gains LED multifunction steering wheel lights, a sliding rear bench, and flat-folding front seats.

According to Hyundai and Genesis UK President Ashley Andrew, the INSTER EV is already creating buzz.

“Our retailer partners and their customers have already enjoyed a sneak preview on our INSTER Roadshow and early feedback suggests that the combination of design, equipment and price point is already generating excitement in the showrooms,” Andrew explained.

Hyundai announced this summer that INSTER EV prices will start below $27,500 (25,000 euros). Unfortunately, Hyundai does not plan to launch the low-cost EV in the US.

Hyundai’s sister company, Kia, will launch the EV3 in the US, which is expected to start at around $30,000 to $35,000. It’s scheduled to arrive in the US next year.

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

Published

3 hours ago

November 5, 2024

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

On today’s episode of Quick Charge, Tesla’s Cybertruck is now available in Canada – and, like in the US, there’s no waiting! Plus, we’ve got an “actually” smart summon Tesla that’s actually stuck, GM reaches a sales milestone, and we get a brand-new title sponsor!

Today’s episode is the first with our new title sponsor, BLUETTI – a leading provider of portable power stations, solar generators, and energy storage systems.

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New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonusLucid proves than an EV company can keep its promises while Xiaomi teams up with Chevrolet and Honda to prove – at least conceptually – that records are made to be broken. audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

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This ‘supercharger on wheels’ brings fast charging to you [update]

Published

5 hours ago

November 4, 2024

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This 'supercharger on wheels' brings fast charging to you [update]

Mobile car care company Yoshi Mobility launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”

November 4, 2024 update: Yoshi Mobility will only be charging EVs on the side of the road now – it announced today that it’s selling its fleet fueling operation to EZFill Holdings (Nasdaq: EZFL).

It was originally founded as a direct-to-consumer, mobile fueling business in 2016, but now it’s going to focus on mobile EV charging, virtual vehicle inspections for partners like Uber and Turo, and onsite preventative maintenance.

Bryan Frist, Yoshi Mobility’s CEO & cofounder, said, “By spinning off our fuel business and focusing all of our energy on solving hair-on-fire problems that fleet owners face, we are meeting the changing needs of enterprise customers while making the future of transportation safer, cleaner, and more sustainable.”

May 22, 2024: Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.

“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.

The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I asked for more details, and they replied that they won’t disclose client names or the manufacturer of its DC fast charger yet.)

Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)

Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.

The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.

To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.

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Environment

Marqeta shares plunge more than 30% on big forecast miss

Published

5 hours ago

November 4, 2024

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Marqeta shares plunge more than 30% on big forecast miss

Marqeta celebrates its initial public offering at the Nasdaq on June 9, 2021.

Source: The Nasdaq

Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.

Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:

Loss per share: 6 cents adjusted vs. a loss of 5 cents expected
Revenue: $128 million vs. $128.1 million expected

While third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta’s forecast for the current period was more concerning.

The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Analysts were looking for growth of more than 17%, according to LSEG.

Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to “heightened scrutiny of the banking environment and specific customer program changes.” The company has been struggling for a while, and its stock is now down more than 80% from its peak in 2021, the year it went public. The stock was down 15% for the year prior to the report.

Total processing volume of $74 billion was up more than 30% from a year earlier. Net revenue and gross profit were up 18% and 24%, respectively.

Marqeta’s digital commerce business sells payment technology designed to detect potential fraud and ensure that money is properly routed. It also issues customized physical cards that look like a credit or debit card that can be used for point-of-sale purchases.

The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex. The service brings BNPL from lenders such as Affirm or Klarna to any credit card wherever Mastercard and Visa are accepted.

“It’s an orchestration layer, but it’s tied to issuing and processing and disputes and chargebacks,” CEO Simon Khalaf told CNBC at Money2020 in Las Vegas last week. “So it is not actually a Wild West in BNPL. It is actually very well established. And there is a reason why a lot of people are jumping to it.”