Hyundai Motor Group, including Kia and Genesis, is taking the US EV market by storm this year. After reaching double-digit market share, Hyundai continued closing the gap with Tesla as the second-largest EV brand in the US through July.
Hyundai, Kia, and Genesis take second in US EV market
Through the first seven months of 2024, Hyundai, Kia, and Genesis accounted for 10% of the US EV market. Hyundai outpaced Ford (7.4%) and GM (6.3%), according to Motor Intelligence.
Tesla’s share of the US EV market slipped below 50% for the first time in the second quarter. Tesla accounted for 49.7% of EV sales in the US in Q2 as new models hit the market.
Although IONIQ 5 and 6 sales slipped last month, they are still up 25% and 54% year-to-date, respectively. Meanwhile, sister company Kia continued its record-setting performance in July after EV sales nearly doubled YTD.
Kia’s new EV9, its first three-row electric SUV, is a major part of its growth. According to Kelley Blue Book, Kia EV9 sales outpaced the Toyota bZ4X, VW ID.4, Nissan Ariya, Rivian R1T, and Tesla Model S in the US through the first half of 2024. It even topped Kia’s Niro EV sales.
Hyundai’s luxury brand, Genesis, remains a dark horse in the US EV market. Genesis is quickly expanding in the US.
After adding 21 dedicated retailers in the US this year, including in eight new states, Genesis recently announced it now has 56 standalone facilities.
“In two short years, Genesis’ retail footprint has grown rapidly from one dedicated retail facility in Louisiana to 56 retail facilities nationwide,” Genesis North America COO Claudia Marquez said.
Hyundai, Kia, and Genesis continue gaining ground in the US with some of the most affordable, fuel-efficient EVs on the market. Hyundai and Kia account for eight of the top ten most fuel-efficient EVs in the US in 2024.
Hyundai Motor and its suppliers are investing heavily in the US, its largest sales market (North America). The company is opening its Hyundai Motor Group Metaplant America (HMGMA) later this year in Georgia.
Hyundai invested around $7.6 billion, creating around 8,500 jobs. However, with its suppliers, the Metaplant is expected to attract over $12.6 billion in funding.
According to the Center for Automotive Research (CAR), it’s also expected to establish over 50,000 new positions in the state.
Georgia awarded the automaker with its own “Hyundai Day” on February 26, 2024. Hyundai has been fast-tracking construction to enable EVs made at the plant to qualify for the $7,500 tax credit.
Hyundai has been passing the credit on through leasing, which accounts for 60% of its EV lineup. Although the battery portion with LG Energy Solution isn’t expected to come online until the end of 2025, Hyundai is expected to source batteries from its Hungary plant in the meantime.
A second battery plant with SK On in Bartow County, GA, will supply batteries for Hyundai’s Montogomery, AL, where the Genesis Electrified GV70 is built, and Kia’s West Point plant, where the new EV9 is built.
Kia began EV9 production in GA in May. It will be the first model to qualify for the credit, with deliveries of the US-made EV9 set for October.
Until then, Kia is offering massive discounts on the EV9. According to Motor Intelligence, Kia EV9 discounts reached over $18,000 in June.
The Metplant is expected to open its doors in October. Hyundai’s new updated 2025 IONIQ 5 will be the first to roll off assembly.
Hyundai is also expected to unveil its first three-row electric SUV, the IONIQ 9. The larger Hyundai electric SUV is expected to be built at the facility to qualify for the EV tax credit.
Meanwhile, Genesis is also preparing to launch its flagship electric SUV. The ultra-luxury Genesis GV90 is expected to expand the brand upward to rival Rolls Royce and Bentley.
With new models rolling out and the Metaplant opening later this year, Hyundai will be a brand to keep an eye on in 2025.
The State of Michigan has announced a new partnership with wireless EV charging specialist Electreon and Commercial EV manufacturer Xos, Inc. Together, the companies have secured funding from the state to expand wireless charging availability for commercial vehicles, including UPS trucks in Detroit.
It’s been nearly a year since the Michigan Department of Transportation (MDOT), the City of Detroit, and Electreon ($ELWS) unveiled the first wireless EV charging roadway in the United States.
Michigan installed Electreon’s wireless inductive-charging coils (seen below) on 14th Street in Detroit between Marantette and Dalzelle streets to charge EVs equipped with Electreon receivers as they drive on the road.
At the time. MDOT and Detroit officials said the road would be used to test and perfect Electreon’s wireless EV charging technology in a real-world environment before “making it available to the public in the next few years.”
While the public will not be able to take advantage of wireless charging just yet, commercial EVs are gaining access thanks to a new partnership between Electreon, Xos ($XOS), and the State of Michigan.
Michigan progresses as US wireless EV charging leader
When Michigan announced the first wireless EV charging road in the US last year, officials shared hopes that the Great Lakes State and the city of Detroit could become leaders in the innovation and and deployment of such nascent technology.
Following a press release from Electreon, the State of Michigan confirmed details of the new partnership, which now includes commercial EV developer Xos, Inc. as well. The new commercial partnership is supported by $200,000 in funding from the Michigan Mobility Funding Platform (MMFP), building off the state’s “Make it in Michigan: economic strategy, developed by the Michigan Economic Development Corporation (MEDC) to invest in the state’s people, places and projects.
Through the partnership and coinciding state funding, Electreon will extend its wireless EV charging network and use cases in Michigan. Additionally, Electreon’s technology will be integrated into delivery step vans from Xos in order to “demonstrate wireless charging technological value and its potential to lower the total cost of ownership (TCO) in the electrification of commercial truck fleets.” Stefan Tongur, vice president of business development for Electreon, elaborated:
We’re excited to demonstrate how Electreon’s technology can optimize electric fleet usage and showcase the seamless integration of wireless charging into daily fleet operations, minimizing downtime and enabling charging across time and location. We’re proud to do this work in Michigan, a state fostering innovation and sustainable transportation solutions.
In addition to expanding wireless charging on Detroit’s first “electric roadway,” the Michigan project will enable the installation of stationary wireless charging at a UPS facility in Detroit. Xos co-founder and CEO Dakota Semler also spoke:
We are proud to partner with Electreon and support UPS to demonstrate the potential of wireless charging in commercial fleets. This innovative approach will revolutionize how we power our electric vehicles and drive fleet electrification forward.
FTC: We use income earning auto affiliate links.More.
The iconic British luxury automaker is undergoing a major brand overhaul. With its official debut around the corner, Jaguar’s electric 4-door GT, the first of its new series, was spotted testing on British roads. The new images give us a closer look at what we can expect from the revamped Jag brand.
Jaguar’s new electric GT makes its first appearance
After building internal combustion-powered sports cars for over 75 years, Jaguar will become an all-electric luxury brand from 2025.
The company announced earlier this year that it will start fresh with an entirely new range of EVs. After killing off the F-Type, E-Pace, XF, and soon the F-Pace SUV, we are finally getting our first look at what the new branding will look like.
Jaguar’s new electric 4-door GT was caught testing on British roads. The camouflaged prototypes reveal a radically different look than the Jag models we are accustomed to.
You can see one of the biggest changes is the low-riding, extended silhouette, as opposed to the crossover SUV and sedan models like the F-Type and I-Pace, Jaguar’s first EV.
The front and rear bumper designs also appear much more aggressive and bold than previous models.
Jaguar’s electric GT is being put through the paces ahead of its debut. It has already completed tens of thousands of testing miles (virtual and real-world) and will soon hit public streets worldwide.
The new model will be built in Solihull, UK, where Jaguar recently ended production of its gas-powered models.
It will be the first to ride on Jaguar’s new JAE (Jaguar Electric Architecture), which will underpin its upcoming lineup of high-end luxury EVs with prices over £100,000 ($130,000). The electric GT will have a range of over 434 miles (700 km) and upwards of 575 hp, making it Jaguar’s most powerful car of all time.
Jaguar will debut its Design Vision Concept at Miami Art Week on December 2, 2024. Next Summer, it’s expected to make its official global debut ahead of deliveries in 2026.
What do you think of Jaguar’s new design based on what’s shown? Are you excited about the brand overhaul? Let us know in the comments below.
FTC: We use income earning auto affiliate links.More.
Tesla has pushed a new (Supervised) Full Self-Driving update with the promised end-to-end neural networks for highway driving.
However, it’s only for newer vehicles.
“End-to-end” is what Tesla refers to as neural net-powered AI driving the vehicle from vision to controls rather than the controls being explicitly coded. It’s already the case in all widely released versions of (Supervised) Full Self-Driving (FSD) for city driving, but not for highway driving, which uses another software stack.
Tesla originally planned to deliver it for highway driving in October, but it was only delivered to a small number of vehicles.
In its latest AI roadmap, Tesla said that it would come the first week of November instead.
Now, Ashok Elluswamy, Tesla’s head of self-driving and AI, said that the latest release with end-to-end highway driving (v12.5.6.3) has been widely pushed to HW4 vehicle owners:
With the latest release (v12.5.6.3), FSD is using end-to-end neural networks for driving across highways, city streets and parking lots, and has now shipped widely for AI4 vehicles. Highway driving should be smoother, more natural and even safer than the previous explicit control stack. Check out the different driving styles to set speed and lane change preferences. Enjoy and let Tesla AI know if you have any feedback.
However, there’s no word for the millions of HW3 vehicle owners.
In fact, the only thing promised to HW3 vehicles, which Tesla now called AI3, in its last roadmap is this:
Improved v12.5.x models for AI3 city driving
As we have often reported this year, Tesla has reached the limits of the HW3 computer and now needs to optimize the code with every release despite still being far from its promise of unsupervised self-driving.
Electrek’s Take
This is annoying cause I could really use end-to-end on my HW3 car. I am on v12.5.4.2 and it has been a regression from v12.5.4.1 for me, especially on highways.
Yesterday, it almost drove me off-road when taking my highway exit, which is always a bit shaky because it is a short exit and FSD often swings itself into it. It’s a bit awkward, and my girlfriend never likes it, so I disengage FSD before taking the exit when she was with me, but this time, she wasn’t, and I had the new update.
It again swung left before going right into the exit, but this time, it went way too far, and I was in the shoulder by the time I took control.
I took this exit hundreds of times with FSD and it’s the first time it did that.
I am starting to think we won’t see much more improvements to FSD with HW3 cars and there’s no retrofit computer in sight.
FTC: We use income earning auto affiliate links.More.