Hyundai is gaining traction where most automakers are struggling to stay afloat. Despite a flood of low-cost electric cars and an intensifying price war, Hyundai sees an opportunity “to write a new chapter” with its first dedicated EV rolling out in China.
Will Hyundai’s new EV spark a comeback in China?
Leading up to its debut, we thought it could be the IONIQ 4 with a sleek new look. The ELEXIO is Hyundai’s first custom-tailored EV for China.
During its global debut earlier this month in Shanghai, Hyundai said China is a “must-fight place,” calling it “the core of Hyundai Motor’s global strategy.” The company also revealed its “In China, for China, to the World” strategy as it looks to make a comeback in the world’s largest EV market.
According to Hyundai, the company is already seeing early success. On Monday, Hyundai’s joint venture in China, Beijing Hyundai, announced that its losses improved by over 100 billion won ($72 million) in the first quarter.
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The company posted a net loss of 42.3 billion won in the first three months of 2025, down from the massive 146 billion won ($105 million) in Q1 2024. At this pace, Hyundai could see a profit by the second quarter in China.
Hyundai ELEXIO electric SUV (Source: Beijing Hyundai)
Hyundai said lower operating costs spurred the cost improvements after the company sold its Chongqing plant last year.
It’s also due to rising exports. Beijing Hyundai exported 14,999 vehicles in Q1, up significantly from just 608 a year ago. Hyundai’s Chinese JV is investing 8 billion yuan ( $1.1 billion) as it looks to revamp the business.
Although it’s already seeing some success, Hyundai’s new ELEXIO electric SUV is expected to accelerate its momentum. With the EV launching in the second half of 2025, Hyundai could turn a profit by the end of the year. It may even happen as early as the second quarter.
Hyundai claims the new EV opens “a new starting point for the transformation from traditional fuel vehicle giant to electrification” in China.
The ELEXIO electric SUV, dubbed the Chinese version of its popular IONIQ 5, rocks a new look with crystal cube LED headlights and a full-length light bar that stretches across the front.
Based on Hyundai’s E-GMP platform, which powers the IONIQ 5, the ELEXIO is rated with up to 435 miles (700 km) CLTC driving range. More details, including prices and trim options, will be revealed closer to launch. Check back soon for the latest.
What do you think of Hyundai’s new electric SUV? Would you buy the ELEXIO in Europe, the US, or other global markets? Let us know in the comments.
Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!
In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.
Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.
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The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!
We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus 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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Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.
Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.
Tesla has now unveiled the project and turned on most of the Supercharger stalls:
The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.
The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.
It can be operated off-grid, which is the case right now, according to Tesla.
With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.
Electrek’s Take
This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.
Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.
The US is likely going to have a few tough years for EV adoption and renewable energy deployment.
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