Hyundai Motor Group electric vehicles, including Kia and Genesis models, now qualify for the $7,500 EV tax credit for the first time. The Korean auto giant now has five eligible EVs as it looks to play an even bigger role in the US.
After an impressive run in 2024, Hyundai has no plans to slow down as the US shifts to electric vehicles. The US Department of Energy announced five Hyundai EVs, including Kia and Genesis models, were among the 25 electric cars that qualify for the federal tax credit.
This is the first time since the Inflation Reduction Act (IRA) was passed in 2022 that the Korean automaker is eligible for tax benefits.
Hyundai just began production at its new Metaplant America (HMGMA) in October 2024, a massive new $7.6 billion EV manufacturing plant in Georgia. The company fast-tracked production, putting up the facility in two years to unlock the credit.
The first vehicle that rolled off the assembly line was Hyundai’s upgraded 2025 IONIQ 5 electric SUV. Shortly after, Hyundai launched mass production of its first three-row electric SUV, the IONIQ 9.
Hyundai, Kia, Genesis EVs qualify for the US tax credit
Hyundai’s new IONIQ 5 and IONIQ 9 were among the 25 EV models that qualify for the $7,500 US tax credit. Meanwhile, Kia is building its electric three-row EV9 and new 2025 EV6 at its West Point, GA plant, both of which now qualify for the benefit.
Genesis, Hyundai’s luxury brand, also made the list. The Genesis Electrified GV70 is built at Hyundai’s manufacturing plant in Montgomery, Alabama, which enables it to qualify.
With five EVs now eligible for the federal tax credit, Hyundai expects momentum to pick up in the US. Before, Hyundai and Kia only passed the $7,500 on through EV leases.
Through November, Hyundai and Kia sold over 112,500 EVs in 2024. However, the benefits could soon disappear with Trump’s transition team reportedly looking to “kill off” the EV tax credit.
Until then, Hyundai will enjoy a more level playing field in the US, one of its (if not the) most important sales markets.
To sweeten the deal, Hyundai is offering a free NACS adapter to unlock Tesla Superchargers for those who buy or lease a new EV right now. Current Hyundai owners (model-year 2024 and earlier IONIQ 5, IONIQ 6, Kona Electric, and IONIQ hatchback models) can request their adapter through the MyHyundai owner portal.
Hyundai’s new 2025 IONIQ 5, IONIQ 6, and Kona Electric models are eligible for the promotion. The upgraded IONIQ 5 features more range, features, and improved style. It even includes a native Tesla NACS port.
2025 Hyundai IONIQ 5 Trim
EV Powertrain
Driving Range (miles)
Starting Price*
IONIQ 5 SE RWD Standard Range
168-horsepower rear motor
245
$42,500
IONIQ 5 SE RWD
225-horsepower rear motor
318
$46,550
IONIQ 5 SEL RWD
225-horsepower rear motor
318
$49,500
IONIQ 5 Limited RWD
225-horsepower rear motor
318
$54,200
IONIQ 5 SE Dual Motor AWD
320-horsepower dual motor
290
$50,050
IONIQ 5 SEL Dual Motor AWD
320-horsepower dual motor
290
$53,000
IONIQ 5 XRT Dual Motor AWD
320 horsepower dual motor
259
$55,400
IONIQ 5 Limited Dual Motor AWD
320-horsepower dual motor
269
$58,100
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)
The base 2024 IONIQ 5 SE RWD Standard Range model starts at $42,500 with up to 245 miles range. Starting at $46,550, the Long Range model provides up to 318 miles range, up from 303 miles in the outgoing model.
Hyundai is coming off a new US sales record in November after IONIQ 5 sales more than doubled. Will the tax credit boost sales further? The company is expected to release December and 2024 US sales figures soon, so stay tuned for more.
Are you ready to take advantage of the big savings while they are still available? We can help you get started. You can use the links below to find deals on Hyundai, Kia, and Genesis EV models at a dealer near you today.
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A Tesla Model S has caught fire while charging at a Supercharger station in France. Tesla is investigating the issue, and the station is temporarily closed.
Sunday night, a fire was reported at the Tesla Supercharger station in Pontarlier, a small community in France near the border with Switzerland.
The firefighters were called, and they were able to extinguish the fire, which appeared to have originated from a Model S that was plugged into the Supercharger.
The car was supervised until this morning to ensure it didn’t reignite.
The local newspaper L’Est Republicain shared a picture of the aftermath, which shows the Tesla Model S is a total loss:
According to the local paper, Tesla sent a technician from Lyon to investigate the issue (translated from French):
A Tesla technician came from Lyon during the night to investigate the causes of the fire. The investigation is still ongoing.
Electric vehicle batteries can sometimes catch on fire, but statistically, they don’t catch on fire at a higher rate than fossil fuel-powered vehicles.
Like with fossil fuel-powered vehicle fires, most EV fires occur after a significant crash. However, it can happen that a vehicle catches on fire by itself. In those cases, it’s important to investigate and make sure to track down the cause of the fire in order to make EVs safer.
For example, this is what happened with the Chevy Bolt EV battery recall.
The first all-electric Ferrari is expected to make its first official appearance later this year. Ahead of its debut, Ferrari’s first EV was spotted testing with an updated design. Take a look at it below.
Ferrari’s first EV caught testing ahead of its official debut
Despite an expected debut later this year, Ferrari has been, for the most part, tight-lipped about its first electric car.
CEO Benedetto Vigna promises it will be “a lot of fun” to drive, as expected from a Ferrari.” Vigna explained, “People buy a Ferrari because when they buy a Ferrari, they have a lot of fun.” The first fully electric model will be no different.
Although it has taken longer than many wanted, Ferrari’s CEO promises its first EV will be built “the right way.” It will still include all the Ferrari-like sound and signature design elements but in an all-electric form.
We caught a glimpse of the upcoming EV a few times already last year as it hit the road for testing. However, the most recent sighting, courtesy of Varryx, gives us an even closer look. The new video reveals an updated prototype and new design features you can expect to see.
Despite still being covered in camouflage, you can see the prototype is wearing new headlights and body panels. It also has several wires and brackets exposed up front.
Like previous sightings, Ferrari’s first EV prototype still has fake tailpipes. As the car passes, you can hear an exhaust-like sound, hinting that a fake one like Dodge’s electric charger could be in the works.
Last summer, Ferrari opened its new e-building, where the first electric car will be built. The facility will also build e-motors, batteries, and inverters. As you can see, the first electric Ferrari will be a crossover SUV similar to the Purosangue.
The electric crossover SUV is expected to make its first official appearance later this year as a 2026 model. By 2026, Ferrari aims for EVs and plug-in hybrids (PHEVs) to account for 60% of sales.
What do you think of Ferrari’s electric crossover? Let us know in the comments. Check back soon for more leading up to its debut later this year.
Source: Varryx
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The White House announced today that President Joe Biden is banning new offshore oil and gas drilling along 625 million acres of US coastline, taking the total area of ocean he’s protected to 670 million acres.
Biden, who wraps up his term in just two weeks, has used his authority under Section 12(a) of the Outer Continental Shelf Lands Act, which allows him to withdraw any unleased areas of the Outer Continental Shelf from future offshore drilling. Biden is protecting stretches of the East and West coasts, the eastern Gulf of Mexico, and parts of Alaska’s Northern Bering Sea.
“In balancing the many uses and benefits of America’s ocean, it is clear to me that the relatively minimal fossil fuel potential in the areas I am withdrawing do not justify the environmental, public health, and economic risks that would come from new leasing and drilling,” Biden said in a statement on Monday.
Biden continued, “The Deepwater Horizon oil spill [pictured above], a man-made catastrophe that took the lives of 11 people and spilled millions of barrels of oil into the waters of the Gulf of Mexico, is a solemn reminder of the costs and risks of offshore drilling to the health and resilience of our coasts and fisheries and underscores the importance of the legal protections I am putting in place today.”
Previous presidents from both parties have used this authority to withdraw large areas from oil and gas leasing. In 2020, the Trump administration protected North Carolina through Florida for 10 years in response to wide opposition to drilling from Republicans and voters, but the protections were set to expire in 2032. Biden’s announcement now permanently protects these areas. Trump, however, says he wants to overturn Biden’s oil drilling ban “on day one.”
Joseph Gordon, campaign director for the ocean conservation group Oceana, said in a statement, “President Biden’s new protections add to this bipartisan history, including President Trump’s previous withdrawals in the southeastern United States in 2020. Our treasured coastal communities are now safeguarded for future generations.”
The oil industry currently holds more than 2,000 leases, according to a 2023 Oceana report, with 75% of that ocean acreage currently unused.
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