Hyundai and Ford’s EV registrations outpace the competition in March
Despite talk of an “EV slowdown,” sales of electric vehicles are still growing. EV registrations grew another 3.8% in March as several automakers, including Hyundai and Ford, saw electric car sales surge.
EV registrations grew in March despite Tesla’s decline
According to the latest EV registration data from S&P Global Mobility, several automakers gained market share in March.
Big price cuts and lease deals boosted demand in the first quarter, as automakers are divided on which way the market goes from here. With new affordable models like the Volvo EX30 and Chevy Equinox EV, some see the momentum picking up in 2024.
Although the growth was slight in March, the EV share of the light vehicle market grew from 6.8% to 7.1%.
For the first three months of the year, electric vehicle registrations were up 5.2% (264,268), with a 6.9% share of the market.
Market leader Tesla had registrations fall 12% in March, dragging down the segment. Tesla’s market share fell to 52.4% compared to 61.5% a year ago. Meanwhile, Tesla’s new refreshed Model 3 could be the reason to blame with a 53% decline in registrations.
Tesla said the new Model 3 was supply-constrained in Q1. Some, including Tom Libby, associate director of industry analysis at S&P Global Mobility, expect the Model 3 to make a comeback this year.
Hyundai and Ford see EV registrations surge
Hyundai and Ford strengthened their positions in March as EV registrations accelerated. Ford had triple-digit EV registration growth, claiming the number two spot.
Driven by drastic price cuts, Ford sold 20,223 electric vehicles in the first quarter, up 86% from Q1 2023. The Mustang Mach-E was the second best-selling electric SUV, behind Tesla’s Model Y.
Ford’s F-150 Lightning remained the top-selling electric pickup in Q1, topping the Rivian R1T and Tesla Cybertruck.
Despite the success, Ford is pulling back on several EV initiatives. The company cut the workforce at its Rouge EV plant, where the Lightning is built, citing slower-than-expected demand. It’s also delaying around $12 billion in EV spending.
Meanwhile, Hyundai took third, with EV registrations doubling (+100%) in March. Hyundai set a new March and Q1 sales record with the IONIQ 5, IONIQ 6, and Kona Electric benefitting from strong demand.
Hyundai is one automaker that remains fully committed to selling EVs in the US, and it’s paying off. With some of the most affordable and fuel-efficient EVs on the market, Hyundai expects the momentum to continue this year.
In a new interview, Hyundai Motor America CEO Randy Parker told Electrek that the company remains “all-in” on EVs.
Parker said Hyundai is “putting its money where its mouth is” as it looks to separate itself from rivals. Hyundai’s first dedicated EV and battery plant in the US is opening in GA later this year, which will help improve competitiveness. EVs built at the facility are expected to qualify for the $7,500 federal tax credit.
Hyundai’s US boss told Electrek the company is focused on giving buyers who may be on the fence about buying an EV confidence with more range, faster charging, and unique designs.
Hyundai’s sister company, Kia, also saw EV registrations double, placing fifth. Kia’s new EV9 is already making a big impact, with over 4,000 units sold in Q1.
Luxury automakers BMW (fourth) and Mercedes-Benz (fifth) both saw double-digit EV registration growth in March.
Rivian, with EV registrations flat in March but up 30% in Q1, placed seventh. Rivian is upgrading its manufacturing plant in Normal, IL, to improve efficiency.
Several others lost market share, according to EV registration data. Chevy’s March registrations slipped 66%, with Bolt EV production ending last year. Chevy hopes new EVs like the electric Equinox and Blazer can help spark growth. The Blazer EV had 498 registrations, while the Equinox had 13 as they began hitting dealership lots.
According to March registration data, Toyota (798), Lexus (819), Subaru (427), Fisker (565), VinFast (496), and Lucid (477) were all below the 1,000 mark.
Meanwhile, Japanese rival Nissan had 1,661 registrations for its Ariya electric SUV as it gained ground in the US.
With new exciting models hitting the market, it should be interesting to see which automakers top the list at the end of the year.
Source: Automotive News
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Solar panel giant Qcells announced today that it’s temporarily furloughing 1,000 US workers – 25% of its workforce – and reducing pay and shifts at its factories in northeast Georgia due to supply chain delays caused by US Customs.
Qcells furloughs 1,000 workers
The supply chain delays are hindering the company’s ability to import components to build its solar panels. This has resulted in Qcells’ two factories in Cartersville and Dalton being unable to operate at full capacity for several months.
Qcells spokeswoman Marta Stoepker shared the following statement in an exclusive with Channel 2 Action News in Atlanta:
The company says the furloughed workers, who were notified this afternoon, will retain full benefits and won’t be laid off. However, Qcells will no longer be using staffing agency employees in Georgia “at this time.”
As Qcells introduced new supply chains to support its growing solar panel manufacturing facilities in Georgia, the company was recently forced to scale back production while our shipments into the US were delayed in the customs clearance process.
Although our supply chain operations are beginning to normalize, today we shared with our employees that HR actions must be taken to improve operational efficiency until production capacity returns to normal levels.
Stoepker said it expects to bring the furloughed workers back “in the coming weeks and months.” She continued:
Our commitment to building the entire solar supply chain in the United States remains. We will soon be back on track with the full force of our Georgia team delivering American-made energy to communities around the country.
Electrek’s Take
In January 2023, the Seoul-headquartered Qcells announced it would invest more than $2.5 billion to build a solar supply chain in Georgia – the largest-ever investment in clean energy manufacturing in the US to date. That included expanding the Dalton solar factory and building a fully integrated solar supply chain factory in Cartersville, Georgia, that will manufacture solar ingots, wafers, cells, and finished panels.
It’s not quite there yet, because that takes time. In the meantime, it’s being penalized by Customs. The US government under Trump says it’s keen on boosting domestic manufacturing. Why would it work against a company that’s onshoring an entire solar supply chain, including recycling?
Dalton and Cartersville employ nearly 4,000 people. Its total output will reach 8.4 GW of solar production capacity per year, which is equivalent to nearly 46,000 panels per day – enough to power approximately 1.3 million homes annually.
It’s ludicrous that it has been forced to furlough a quarter of its workforce due to the ineptness of the Trump administration’s US Customs policies. This is right up there with the ICE arrests at Hyundai’s plant in Georgia. Bravo.
Read more: Georgia gives US solar panel manufacturing a big boost with a new factory
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The breakthrough EV batteries Toyota says will double driving range and cut charging times are facing another setback. The company is once again delaying plans for a new battery plant in Japan.
Why is Toyota delaying its EV battery plant this time?
Earlier this year, Toyota bought a 280,000-square-meter plot of land in Fukuoka, Japan, where it planned to build a plant to produce the more advanced EV batteries.
A location agreement was expected to be signed by April, but Toyota pushed back construction by several months, blaming slower-than-expected demand for electric vehicles.
The agreement was expected to be finalized this Fall, but that will no longer be the case. According to Nikkei, Toyota is delaying the EV battery plant for the second time. Toyota will review and adjust plans over the next year.
Fukuoka governor, Seitaro Hattori, confirmed the news with reporters on Friday following a meeting with Toyota’s president, Koji Sato. Hattori also shut down claims that Toyota was planning to scrap the battery plant altogether.
Toyota again blamed slowing EV demand for the delay. The decision comes despite Keiji Kaita, president of Toyota’s Carbon Neutral Advanced Engineering Development Center, confirming at the Japan Mobility Show just last week that it’s “sticking on the schedule” to introduce its first solid-state battery-powered EV by 2028.
Last month, Toyota said it aimed to “achieve the world’s first practical use of all-solid-state batteries in BEVs” after securing a partnership with Sumitomo Metal Mining Co. to mass-produce them. It’s also working with Japanese oil giant Idemitsu.
The company recently revealed a solid-state battery pack prototype that it claims can deliver 747 miles (1,200 km) range and 10-minute fast charging, but will we ever see it actually in production?
Electrek’s Take
Toyota has been making empty promises about EV batteries for almost a decade now. It initially planned to introduce solid-state EV batteries in 2020, then pushed it to 2023, then 2026, and now it’s saying it will be around 2028.
Mass production is likely closer to the end of the decade, if Toyota doesn’t delay it again. While it’s blaming the slowing demand, global EV sales are still on the rise. According to Rho Motion, global EV sales topped 2 million for the first time in a single month in September 2025. Through the first nine months of the year, EV sales are up 26% compared to the same period in 2024.
Even with the US ending the $7,500 federal tax credit and other policies designed to promote electric vehicles, global adoption will continue building momentum over the next few years.
Is it a demand issue, or is Toyota just looking for another excuse? With rivals like Volkswagen, Mercedes-Benz, Hyundai, BMW, and Honda advancing next-gen EV batteries, Toyota will only fall further behind if it continues delaying key projects.
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