Hyundai’s cheapest EV is now even more affordable in Korea. The Casper Electric gained a new Premium trim starting at $20,000 (27.4 million won). With subsidies, Hyundai expects the new model will be available for as little as $7,300 (10 million won).
After opening pre-orders for the new compact electric SUV in July, starting at just $23,000 (31.5 million won), Hyundai’s Casper Electric is already a hit in its home market.
According to Yonhap News, the Casper Electric secured 8,000 orders in its first two weeks. In its first full sales month, the mini electric SUV was Hyundai’s top-selling EV in Korea.
The Casper Electric accounted for 1,439 of Hyundai’s total 3,676 EVs sold in August. The IONIQ 5 (1,222), IONIQ 6 (405), and Kona Electric trailed behind for the company’s best EV sales month so far in 2024.
In September, the Casper Electric became the best-selling EV in Korea, with 2,075 models sold. Hyundai said the electric SUV is attracting buyers thanks to its “ample driving range” and low price.
Hyundai’s all-electric Casper is bigger than the gas-powered model and is cheaper to drive with government incentives.
Although previously, it could be purchased for as little as $14,500 (20 million won) with government subsidies, Hyundai’s Casper electric is now even more affordable with a new Premium trim.
Hyundai’s Casper Electric gains new lower-priced trim
After releasing the new gas-powered Casper in Korea on Thursday, Hyundai introduced a new Premium trim for the electric model.
The Casper Electric Premium is Hyundai’s new base model, starting at just $20,000 (27.4 million won) after tax benefits. With government and local subsidies, Hyundai expects the new model will be available for as little as $7,300 (10 million won).
Powered by a 42 kWh NCM battery from its joint venture with LG Energy Solution, the new base model is rated with up to 173 miles (278 km) driving range in Korea.
A Hyundai Motor official said the new Casper Electric will be the “optimal choice” for buyers. With other trims, the electric SUV is rated with up to 196 miles (315 km) driving range.
In Europe, the Casper Electric is known as Inster EV. It’s rated with up to 221 miles (355 km) WLTP driving range and starts at under $27,000 (25,000 euros).
Earlier this week, Hyundai launched the new Inster EV Cross, a rugged twist on the electric city car. Hyundai said the bold new model is built for all your “mini-adventures” and has up to 223 miles (360 km) of driving range.
Is it coming to the US?
Although the Casper Electric (Inster) is not expected to arrive in the US, Hyundai’s massive new Metaplant America in Georgia is now up and running. The first vehicle to roll off the assembly line was the updated 2025 IONIQ 5, featuring more range and an NACS charging port to unlock Tesla’s Supercharger network.
Later this year, Hyundai will introduce its first electric three-row SUV, the IONIQ 9, which will be built alongside the new IONIQ 5 in GA.
Although EVs built at the facility will initially qualify for a partial $3,750 tax credit, Hyundai expects once the battery portion opens, it will unlock the full $7,500 credit for buyers.
Until then, Hyundai is still passing the $7,500 on through leasing. It also offers 0% APR on the 2024 IONIQ 5 for up to 60 months as it preps for the new updated model.
Starting at $41,800, the 2024 IONIQ 5 is still one of the best EV deals in the US. For $45,850, the SE RWD model offers over 300 miles range. (See IONIQ 5 offers in your area).
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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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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
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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.