Hyundai-Kia surge past Ford, GM to take second in US EV sales in 2023
Hyundai and Kia placed second in the US EV market behind Tesla after a record sales year in 2023. The Korean automakers surged past Ford and GM with stylish, functional EVs built for the modern era.
Hyundai and Kia take second in US EV sales
According to Kelley Blue Book estimates, a record 1.2 million EVs were handed over in the US last year.
Tesla remained on top (by far) with 55% of the share. Although Tesla’s share will inevitably fall as new models are introduced, price cuts helped bounce back from an all-time low in Q3.
The EV leader captured 4.2% of the total US market with over 650,000 deliveries, topping Volkswagen, Subaru, and BMW for the first time. Meanwhile, Tesla wasn’t the only company with record EV sales last year.
Hyundai capped off a record year with nearly 47,000 IONIQ 5 and IONIQ 6 EVs sold, while Kia sold almost 19,000 EV6 electric crossovers. It also began delivering its first three-row electric SUV, the EV9, with 1,113 sold in December.
According to new research from BloombergNEF, the growth was enough for Hyundai and Kia to top Ford and GM for second in US EV sales.
Hyundai and Kia accounted for 8% of passenger EVs sold in the US last year, with around 117,000 handed over.
Although Ford’s CEO, Jim Farley, declared that “Ford remained the No. 2 EV brand” earlier this month, with Kia and Hyundai combined, that’s not the case. Ford sold a new record of 72,608 EVs in the US in 2023.
Meanwhile, GM sold around 72,639 EVs in 2023, with the Chevy Bolt accounting for over 85%. GM ended production of the affordable electric car as it ramps up output of its Ultium models including the Blazer EV. A new Bolt is expected to be revealed next year.
Electrek’s Take
Although Hyundai and Kia are not the same company, they share Hyundai’s E-GMP platform. Hyundai also owns just over 30% of Kia and shares many components within its network.
The South Korean automakers topped GM and Ford even without their EVs qualifying for the IRA tax credit (only through leasing).
Much of their success is due to building EVs from the ground up. The Hyundai IONIQ 5 was the sixth best-selling EV in the US last year. Hyundai and Kia are also some of the only automakers (outside of Tesla) offering smaller EVs like the Kona and Niro.
Unlike UAW Ford and GM, which have delayed EV initiatives, Hyundai and Kia are focusing on building for the future.
With dedicated EVs, Hyundai also ranked second behind Tesla in lowering CO2 emissions and improving fuel economy over the past several years, according to EPA data.
After EV sales doubled this year, Hyundai’s global president, Jose Munoz, told Reuters in November that he is still “very bullish” on EV demand. Munoz said, “Based on what I see, I need more. If I had more capacity today, I could sell more cars.”
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Environment
Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec
JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.
JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.
The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.
In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.
In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.
The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:
JiYue’s new ROBO X EV is available for pre-order now
JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.
When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:
For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.
Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).
The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.
Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.
Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.
What do you think? Will people be talking about the ROBO X for the next 20 years?
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.
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Here are a few of the articles that we will discuss during the Wheel-E podcast today:
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Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.
U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.
Here are Friday’s energy prices:
- West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
- Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
- RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
- Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.
The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.
A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.
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