Hyundai and Kia are on a hot streak. The Korean auto giants just notched another month of strong sales growth in February, thanks to new low-cost EVs like Kia’s EV3 and the Hyundai Casper (Inster EV). With more models on the way this year, Hyundai and Kia setting the stage for an even bigger 2025.
Hyundai and Kia sales rise in February with low-cost EVs
Coming off its second straight year of setting a new global sales record, 2025 is shaping up to be Kia’s biggest year in company history.
Kia is revamping the brand with a new lineup of stylish electric vehicles as part of its “EVs” for all strategy. After launching its first three-row electric SUV, the EV9, in 2023, the company is doubling down on more affordable models.
As part of its “EVs for all” strategy, Kia is launching a series of electric cars with prices ranging from around $30,000 to upwards of $80,000.
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After launching the EV5 in China in late November 2023, starting at just over $20,000 (149,800 yuan), Kia introduced the smaller EV3 SUV last year.
Kia opened EV3 orders in Korea last June starting at roughly $30,000 (KRW 42.08 million). After securing over 10,000 reservations within a month, Kia’s vice president Won-Jeong Jeong, was already calling the compact SUV a “game-changer” in its home market.
Kia EV3 (Source: Kia)
Even more coming soon
Kia sold 2,257 EV3’s in Korea last month, surging 426% from the 429 sold in January. The EV3 has helped Kia’s domestic sales recover, rising 4.5% in February 2025.
With the EV3 now arriving in Europe, starting at around $38,000 (36,000 euros), Kia expects overseas sales, which were up 4.4%, to gain momentum this year.
Kia EV3 EU spec in Frost Blue (Source: Kia)
Kia’s President, Song Ho-sung, told shareholders on Wednesday the company’s annual sales exceeded 100 trillion won ($68.6 billion) for the first time in 2024. It also notched its highest operating profit in company history at 12.7 trillion won ($8.7 billion).
This year, Kia expects even more growth with new electric models, including the EV4, its first electric sedan, and the PV5, its first electric van. Both were introduced at Kia’s 2025 EV Day last week. We also got our first look at the smaller, even lower-cost EV2 model.
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
Hyundai’s low-cost Casper Electric, which went on full-scale sale in the second half of 2024, helped boost domestic sales.
Casper Electric sales increased in Hyundai’s home market from just 186 units in January to 1,061 in February. Hyundai’s domestic sales rose 20% in February 2025 compared to the prior year. The Casper EV starts at about $20,000 (27.4 million won) in Korea.
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)
In outside markets, like Europe, the Casper is called the Inster EV, and it’s expected to help Hyundai significantly ramp up overseas EV sales. In Europe, Hyundai’s compact electric SUV starts at around $27,000 (25,000 euros).
Hyundai and Kia are on a hot streak in the US. Both are coming off new February sales records with new models like the 2025 IONIQ 5 and Kia’s EV9 seeing strong demand. With more EVs on the way, including Hyundai’s three-row IONIQ 9 and the Kia EV4, the Korean automakers will be two brands to keep an eye on as the global auto industry continues shifting to electric.
Former Jeep brand CEO Antonio Filosa, now head of Stellantis, took a shot at BYD over EV sales. BYD responded with the perfect comeback.
Stellantis and BYD trade shots over German EV sales
So, who really sold more electric vehicles? Stellantis’ CEO claimed that its joint venture, Leapmotor, outsold BYD in the heart of Europe during an investor conference last week.
“Last month, I believe that Leapmotor sold more BEVs than BYD in Germany,” Filosa said at the event. BYD wasted no time, responding in a press release issued on Friday.
BYD fired back, saying it registered 8,610 vehicles in Germany in the first eight months of 2025, more than double Leapmotor’s 3,536.
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After checking official data from the German Federal Motor Transport Authority (KBA), BYD registered 8,563 passenger vehicles through August, compared to Leapmotor with 3,531. Broken down by powertrain, BYD registered 5,809 all-electric vehicles (EVs) and 2,844 plug-in hybrids (PHEVs), compared to Leapmotor’s 3,083 EVs and 448 PHEVs.
BYD “Xi’an” car carrier loading Dolphin Surf EVs for Europe (Source: BYD)
BYD also boasted that it outsold Alfa Romeo and nearly Jeep, two other Stellantis-owned brands, during the same period.
Alfa Romeo registered 5,222 vehicles through August, while Jeep had 8,884, barely beating out BYD. However, Jeep only sold 350 EVs and 569 PHEVs during the period. Alfa Romeo sold just 140 all-electric vehicles.
BYD Atto 2 compact electric SUV (Source: BYD)
A Stellantis spokesperson clarified (via Bloomberg) that Filosa’s comments “referred only to the month of August, when Leapmotor was indeed the first Chinese brand in the country, with the highest number of battery-electric vehicle registrations and market share.” But was it really? Not according to KBA data.
Electrek’s Take
It looks like Filosa was referring to just one model, the Leapmotor T03, which was the top-selling EV in Germany last month.
Either way, taking a jab at BYD, which is quickly gaining market share not just in Europe, but in nearly all global markets (outside of the US), is bold.
It will be interesting to see how sales shape up at the end of the year in Germany and overall Europe. Both BYD and Leapmotor are expanding with new models launching, including entry-level EVs like the Dolphin Surf (BYD) and Leapmotor B05.
Finnish equipment brand Avant Techno Oy is making their biggest push yet into the electric wheel loader market with the launch of the all-new Avant e747, packing a 47 kWh battery and serious, diesel-beating performance.
Since its founding in 1991, Finnish firm Avant Techno Oy has been working to make a name for themselves in the heavy equipment space with a line of articulated compact loaders (mostly diesel-powered). After releasing their first electric e5 and e6 options back in 2016, they’ve made some inroads, but the latest e727 and e747 models show a renewed, more concerted effort to break into the equipment space in a big way.
Avant’s new e747 is Avant’s biggest electric wheel loader to date, too, offering up to nine hours of continuous operation from its efficient, 47 kWh (51V) battery pack.
That battery isn’t just efficient, it’s unique. Developed in-house by Avant and marketed under the Avant Power brand, the e747’s 47 kWh pack uses “OptiTemp” immersion cooling, submerging the battery’s cells in a dielectric fluid that keeps temperatures stable (read: optimized) under even the heaviest load demands. The result is a bespoke battery pack that runs cooler, charges more efficiently, and maintains consistent output even during long, demanding shifts. 10-80% recharging is possible in under two hours on a 22 kW DC charger.
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Avant believes that technology will give its machines a crucial edge in a broader market that expects their wheel loaders to work at full power, all day long.
“The market has still been missing heavy-duty electric loaders with greater lifting power, longer range, faster drive speed, bigger battery capacity and energy efficiency,” explains Tuomas Färlin, Commercial Product and Sales manager at Avant Tecno Oy. “[With this new battery] Avant e747 is ideal for various professional uses. Think construction or demolition sites where raw power and durability are necessities. Or property maintenance work, where you need a compact, effective and agile loader for full workdays.”
The e747 sends power from its battery to four electric drive motors, one to each wheel, and to the auxiliary hydraulics, which are separate from the drive system. And, because each drive motor is controlled individually, traction control is precise and movement is smooth and predictable on all surfaces.
Avant says that series production for both versions of its e700-series electric wheel loaders will begin in Q1 of next year. No word, yet, on pricing.
Electrek’s Take
Avant e727; by Avant, via Equipment Journal.
Other electric wheel loader makers like Case, Liebherr, and Volvo are obviously feeling the heat from Asian brands like XCMG and LiuGong — knowing the competition is heating up even among other European brands is sure to keep the pressure on. Here’s hoping everything they say about competition improving the breed is true!
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Six months after announcing plans to begin EV production in Europe with the help of contract manufacturer Magna Steyr, XPeng Motors has begun rolling two initial all-electric models off those assembly lines overseas. The Chinese automaker continues to deepen its presence in the EU to gain a larger market share.
While XPeng Motors remains one of the more popular Chinese BEV brands in its native country, the company has continued to expand to new markets over the last half-decade or so. We’ve extensively covered XPeng’s expansion into Europe, where it now sells its EVs in 12 different countries in the region, including the Netherlands where we have test driven several of its models.
As you may recall, the EU implemented a probe into the Chinese automakers that the European Commission believes had been “unfairly” subsidized as exports into the region by the boatload. To combat this alleged advantage, Europe imposed tariffs on imports of EVs built in China, including marques like NIO, BYD, and XPeng.
That has not deterred Chinese automakers, who continue to import from China by the boatload while setting up local production to alleviate some of those duties. In May 2024, we reported that Magna Steyr’s president confirmed nearly every Chinese EV automaker, including XPeng Motors, had been in touch with the contract manufacturer about localized EV production in Europe.
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This past March, the Austrian production arm of Magna International confirmed it was finalizing two EV assembly contracts with two Chinese brands – XPeng and GAC Group, which could begin as early as June. Today, six months after those reports arose, XPeng has confirmed EV production is underway in Europe at Magna Steyr.
Source: XPeng Motors/Weibo
XPeng begins assembling two EVs in Europe via Magna
In a Weibo post earlier today, XPeng confirmed the start of EV production in Europe, confirming that its G6 and G9 models have begun rolling off Magna Steyr’s assembly lines in Graz, Austria.
As you may recall, Magna Steyr was once home to production of the short-lived Fisker Ocean SUV and the Jaguar I-Pace, which has also been discontinued (although Jaguar isn’t bankrupt like Fisker). That left plenty of production space for Magna to fill, hence why so many Chinese automakers inquired.
This is a win-win for both Magna and XPeng. The former finds a potential long-term contract partner (more on that in a second). At the same time, the latter finally establishes localized EV production in Europe, avoiding most of the tariffs imposed by the EU.
The initial report out of Austria in March stated that both XPeng and GAC were planning to utilize a Semi-Knocked-Down (SKD) build process, in which pre-fabricated components are imported from China into Austria before being assembled locally at Magna Steyr.
The report also stated that the Chinese Automakers were initially only investing a minimal amount of funds into a small number of EV assemblies in order to test markets in Europe. Given XPeng’s growing presence overseas and today’s Weibo post, it has found a viable EV production solution in Magna and is already preparing for further expansions to secure more of Europe’s automotive market. Per the post (translated from Chinese):
In Q3 2025, Xpeng Motors officially launched its first localized production project in Europe at the Magna plant in Graz, Austria, with the first batch of the Xpeng G6 and G9 vehicles rolling off the production line. The plant will also produce more Xpeng models in the future. Xpeng Motors is deepening its presence in the European market with a richer product offering, continuing to accelerate its globalization journey with ‘Made in China’ technology.
There is no word yet on what other XPeng EVs may eventually be assembled in Europe, but I could see the new P7 making its way to Austria next. We will see!
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