Connect with us

Published

on

Hyundai introduced significant discounts on its top-selling EVs, including the IONIQ 5, IONIQ 6, and Kona Electric, in South Korea to overcome slumping sales. With government incentives, the IONIQ 5 now starts at just over $30,500 in Hyundai’s home market. Although demand remains strong in the US, Hyundai is still offering big savings opportunities.

Hyundai ramps up EV discounts in South Korea

On Wednesday, Hyundai launched a new EV discount promotion in Korea worth up to $3,500 (5 million won). Hyundai is offering between 3 to 5 million won ($2,000 to $3,500) in savings across its entire EV lineup.

The IONIQ 5 and 6 models are discounted at 3 million won ($2,000), while the Kona Electric is up to 4 million won ($2,700) off. Hyundai is offering up to 5 million won ($3,500) on electric vans, including the ST1 and Porter II.

Hyundai’s low-cost Casper Electric and IONIQ 5 N models get a 1 million won ($700) discount. Even the Genesis GV60 is discounted at 3 million won ($2,000) off.

According to Hyundai, the IONIQ 5 can now be bought for as little as 44.38 million won ($30,700) in Korea, down from 54.1 million ($37,400).

Hyundai-EV-discounts-Korea
2025 Hyundai IONIQ 5 (Source: Hyundai)

The savings include the 3 million won company discount, a 590,000 won Seoul government subsidy, and a “government subsidy and manufacturer discount proportional subsidy of 6.13 million won ($4,200). If you factor in benefits from its “2025 EV Every Care” promo launched last month, Hyundai said buyers will save even more.

The new discounts come as Hyundai deals with slowing EV sales in Korea. According to Chosun, Hyundai is halting IONIQ 5 and Kona EV production for a week later this month due to sluggish demand.

Hyundai-EV-discounts-Korea
Hyundai Kona Electric N Line (Source: Hyundai)

What about the US?

Although Hyundai’s EV sales are slowing in South Korea, the company continues gaining traction in the US market.

Hyundai is coming off its best January sales month in the US ever. With over 54,500 vehicles sold, Hyundai’s US sales were up 15% compared to January 2024.

Hyundai-EV-discounts-Korea
2025 Hyundai IONIQ 5 (Source: Hyundai)

The IONIQ 5 and IONIQ 6 set new January sales records with 2,250 and 871 models sold, respectively. Hyundai doesn’t provide a separate breakdown for Kona EV sales, but sales fell 34% across all powertrains.

With the upgraded IONIQ 5 and its first three-row electric SUV, the IONIQ 9, arriving this year, Hyundai expects to see even more momentum this year.

Hyundai-EV-discounts-Korea
Hyundai IONIQ 9 three-row electric SUV (Source: Hyundai)

The new 2025 IONIQ 5 has an even more driving range of up to 318 miles, an upgraded interior and exterior design, and a NACS charging port to charge up at Tesla Superchargers.

Hyundai’s larger IONIQ 9 also includes a NACS port. Its 110.3 kWh battery provides a range of up to 335 miles, and its extended wheelbase opens to a spacious cabin with room for seven passengers.

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)

Hyundai will build both electric SUVs at its new manufacturing plant in Georgia as it expands US production. The 2025 IONIQ 5 starts at $42,500, while IONIQ 9 prices will be revealed closer to launch. Hyundai opened IONIQ 9 pre-orders in Korea this week, starting at just 67.15 million won ($45,800). With incentives, Hyundai said actual purchase prices are closer to 60 million won ($41,00).

Ready to check out Hyundai’s best-selling electric SUV for yourself? You can use our link to view deals on the Hyundai IONIQ 5 (2024 and 2025 models) at a dealer near you today.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Trump just canceled the federal NEVI EV charger program

Published

on

By

Trump just canceled the federal NEVI EV charger program

Trump’s Federal Highway Administration (FHWA) has issued a memo ordering states to suspend all state EV infrastructure deployment plans under the National Electric Vehicle Infrastructure (NEVI) Formula Program.

Trump’s FHWA orders NEVI suspension

The $5 billion NEVI program is the big rollout of EV charging infrastructure across the US that was funded by the Biden administration’s Infrastructure Act, and it’s already well underway.

Under the NEVI program, states have to send their plans to the FHWA annually, detailing how they’ll use the funds. During the Biden administration, the FHWA signed off on the first four out of five fiscal years of plans through 2025. However, not all of it has been “obligated” to EV infrastructure projects.

Trump’s FHWA has told states in this memo that they can’t commit funds that were already approved to new EV charging infrastructure. However, money that was already committed is not affected. 

The memo reads:

Therefore, effective immediately, no new obligations may occur under the NEVI Formula Program until the updated final NEVI Formula Program Guidance is issued and new State plans are submitted and approved. Instructions for the submission of new State plans for all fiscal years will be included in the updated final NEVI Formula Program Guidance. Since FHWA is suspending the existing State plans, States will be held harmless for not implementing their existing plans. Until new guidance is issued, reimbursement of existing obligations will be allowed in order to not disrupt current financial commitments.

Electrek’s Take

I asked Loren McDonald, chief analyst at Paren, what his thoughts were on this latest cancellation, and he, among others (myself included), doesn’t think the FHWA has the authority to stop the NEVI program with a memo – it would need a change in law from Congress – and then the courts will settle it. (Who else is beginning to see a Trump administration theme here?) McDonald said:

 I don’t believe FHWA has the authority to pause or rescind any aspect of NEVI. The Trump administration is clearly trying to stop or pause programs like NEVI for as long as they can, but I assume lawsuits from states will start soon, and this will go to court and Congress … but the Trump admin will succeed in just causing havoc and slowing things down for a while. In the end, the Trump administration will likely fail, as only Congress can fundamentally revise and stop the NEVI program.

But, as with everything else rolled back the last few weeks, this will cause chaos and delays. This will cause serious damage to businesses nationwide – from EV charging companies (including Tesla, one of the largest NEVI recipients) to convenience stores and other host sites – and will waste money and cost people jobs.

It should also be noted that NEVI is the very reason that the NACS charging standard exists in the first place.

NEVI was limited only to chargers that could serve multiple makes of vehicles – a reasonable step, that government wouldn’t want to do a giveaway to a single, proprietary company. This is what caused Tesla to release NACS as a standard in the first place, so that its chargers could access NEVI money.

Then, when the entire industry switched over to the NACS standard, that signaled a potential long period of leadership in EV charging for Tesla. The company could have been the primary energy provider for EVs in North America for years or even decades to come as a result.

Now, an administration that Elon Musk is involved in is killing the very program that could have led to his company’s dominance in energy delivery – after also firing the entire team that was responsible for making the NACS standard in the first place.

What an awesome way to make America great again.

Read more: Q4 2024 update: 12,000 more US EV charging ports in 3 months


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

There’s finally(!) an automatic fix to restart failed EV charging sessions

Published

on

By

There's finally(!) an automatic fix to restart failed EV charging sessions

The ChargeX Consortium has figured out how to automatically restart failed EV charging sessions at fast chargers so drivers don’t have to.

Every EV driver has been there. You plug in, walk away to grab food or run errands, and expect your battery to be juicing up at a DC fast charger, only to return and realize nothing happened. Maybe the session failed, or maybe the charger glitched. Either way, you’re stuck unplugging, plugging back in, and now it’s going to take twice as long to charge.

The ChargeX Consortium (National Charging Experience Consortium), which is made up of researchers from the National Renewable Energy Laboratory (NREL), Idaho National Laboratory (INL), and Argonne National Laboratory (ANL), along with industry stakeholders, has come up with a smart fix for one of the most frustrating parts of public EV charging: failed sessions.

Its new report highlights the benefits of what it calls “seamless retry” – a hands-free tech solution that automatically restarts failed charging attempts. In other words, the driver no longer needs to physically unplug and replug the charging connector when a charging session fails.

The consortium’s new tech is designed specifically for DC fast charging. The “novel mechanism” automatically resets both the EV and the charger, then restarts the session in the background, so drivers don’t have to return to the car – or even have to think about it.

Ed Watt, a researcher at NREL and lead author of the “Recommended Practice Seamless Retry for Electric Vehicle Charging” report, said, “With a seamless retry mechanism in place, an EV driver at a retail center can plug in a charging connector, provide user input data, leave to shop, and feel confident that they will return to a charged vehicle.” (Click on the report link to see the specifics of how the novel mechanism works.)

The researchers didn’t just focus on the perks of seamless retry – they also looked at potential downsides. One concern was the extra time it might take for the system to restart a failed session, which could leave drivers frustrated. To tackle that, the consortium suggests that the EV industry provide transparency in the form of real-time status updates, insights into what went wrong, and recommendations based on the type of charging failure and number of attempts made.

Going forward, as the user experience becomes clearer, more work will fine-tune seamless retry. The ChargeX Consortium will keep refining the system – developing smarter, more targeted retry methods, ironing out implementation details, and running verification tests to make sure everything works seamlessly in the real world.

Read more: The latest US EV sales and charger growth – in numbers


To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla CFO, chairwoman, and Elon’s brother sold tens of millions worth of TSLA stocks

Published

on

By

Tesla CFO, chairwoman, and Elon's brother sold tens of millions worth of TSLA stocks

Tesla’s Chief Financial Officer, Taneja Vaibhav, and the head of Tesla’s board of directors, Robyn Denholm, have just sold tens of millions of dollars worth of Tesla (TSLA) stocks.

Elon Musk’s brother is also selling.

Public companies must report insider stock trading by critical executives and board members to the SEC.

For Tesla, it’s a very limited group for a company of that size:

And they are not buying the stock. In fact, they are almost exclusively selling.

Today, Tesla reported two new sets of transactions in SEC filings.

Chief Financial Officer Taneja Vaibhav confirmed that he sold 7,000 shares for $2,681,770.

He was able to acquire those 7,000 Tesla shares at $18.22 as part of his stock option plan. He sold at an average of $383, and the stock closed at $374 today.

Robyn Denholm, Tesla’s chairwoman, sold 112,390 shares at an average price of $384.04, for a total value of $43,162,255.60.

She also got the shares as part of a stock option plan. Denholm had to return tens of millions of dollars worth of Tesla stocks to the company after settling a lawsuit over excessive compensation brought by shareholders.

Tesla’s entire board settled for nearly $1 billion:

Tesla wrote in the filings that both Vaibhav and Denholm sold as part of stock option liquidation plans adopted last year.

Today, Tesla released another SEC filing to disclose that Kimbal Musk, Elon Musk’s brother and Tesla board member who also was part of the excessive compensation settlement, is selling 75,000 Tesla shares through Morgan Stanley for $27.5 million.

In his case, it doesn’t appear to be linked to a liquidation plan.

Electrek’s Take

Kimbal is known to have great “timing” with his Tesla stock sales. It will be interesting to see.

It’s wild to see these board members getting absurdly rich while the company has erased its growth and is heading into one of its worst quarters in years.

All while they sit on their hands and do nothing while they are the only ones who could do something about the CEO, who seemingly engages in fireable offenses every day.

Tesla has one of the worst corporate governance of any major companies I’ve ever witnessed.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending