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Following its “Unlock the Software Age” global forum earlier this evening, Hyundai Motor Group has outlined a detailed roadmap to transform its entire lineup of vehicles (gas and electric) across all brands into Software Defined Vehicles (SDVs) by 2025. This new era of vehicle technology will allow HMG to constantly evolve along with its vehicles, which will be able to stay up-to-date via over-the-air updates. To support this new era, the Group has already committed to spending 18 trillion won (~$12.5 billion) to establish a new Global Software Center and accelerate SDV development.

By now you’re likely well aware of Hyundai Motor Group and its three current automotive marques – Hyundai, Kia, and Genesis. The IONIQ brand of EVs still currently exists under the Hyundai marque as well as the larger HMG banner.

There’s a lot to unfold here following the group’s recent livestream from South Korea, so we will skip the history lesson for today and hop right into the future. As EVs especially develop toward a new era that’s much more dependent on semiconductors and software than moving parts, a new era of mobility is beginning to emerge.

Hyundai Motor Group states that it recognized this years ago and has been working behind the scenes to ensure its current and future lineup of vehicles across all brands remain not just functional, but technologically relevant. Over-the-air (OTA) updates are already common among most automakers these days, but most of those capabilities are quite limited. For instance, many automakers can only push through simple updates to infotainment systems like the latest maps in navigation.

Only a few current automakers, such as Tesla and NIO for instance, are able to offer software and firmware updates over-the-air, allowing for added performance through an internet connection.

The nucleus of Hyundai’s presentation today was this focus on connectivity and transitioning to Software Defined Vehicles that can not only be remotely upgraded, but exist as part of a cutting-edge world of automotive telecommunication that provides owners with personalized services, safety, and even software subscriptions.

Hyundai can then use that connected car data for future mobility applications, such as Purpose Built Vehicles, Advanced Air Mobility, robotaxis, and even robots.

By 2025, Hyundai Motor Group looks to transform each and every one of its vehicles to fit into this new category of Software Defined Vehicles.

Software Defined Vehicles
Source: Hyundai Motor Group

HMG expects 20 million Software Defined Vehicles by 2025

According to the release, all new vehicles from Hyundai Motor Group from 2023 onward will be equipped with OTA capabilities. This will include all HMG vehicles, not just EVs. By 2025, Hyundai states that it expects 20 million to be registered to its Connected Car Services (CCS) around the globe.

In addition to being able to upgrade the performance and functionality of a given vehicle anywhere at any time, Hyundai drivers will also be able to take advantage of Feature On-Demand (FoD) services next year as well. This will allow customers to pick and choose certain features or functions on their vehicle to further customize it to meet their specific needs. HMG plans to gather data generated by the 20 million connected vehicles and use it to further develop personalization services.

To roll out this ambitious arsenal of Software Defined Vehicles, Hyundai Group outlines five floors of the “software house” (seen above) that is the foundation of the new era in mobility.

  1. Vehicle Platform
  2. Electrical/Electronics Architecture
  3. Software Platform
  4. Data Platform
  5. Future of Mobililty

Hyundai’s roadmap starts on the ground floor and works its way up. Beginning in 2025, HMG will introduce two new EV platforms – eM and eS – built upon its Integrated Modular Architecture (IMA). eM is currently being developed to support EVs across all segments, and Hyundai says it will deliver 50% more range on a single charge compared to current EVs. It is also being built with Level 3 and higher autonomous driving in mind. So when that technology does become more mainstream, new Hyundai vehicles can already holster it. Same goes for OTA updates.

The eS platform is more of a traditional “skateboard” design exclusively for Purpose Built Vehicles, offering modular, tailor-made solutions to businesses in segments like logistics, rideshare, and last-mile deliveries.

Hyundai shared that its IMA technology will deliver a new level of standardization and modularity to the design and assembly of its EVs. By standardizing components like batteries and motors that currently vary by model, HMG says it can streamline its production processes and expand its lineup.

The same thought process applies to the vehicle controller, which previously required a vehicle’s software system to be upgraded separately for each one. By integrating the controller, future EVs will be more efficient in that the lower-level components can be managed by higher-level controllers, thus reducing the overall number required.

Another huge factor will be the group’s Connected Car Operating Systems (ccOS), which will be applied to all controllers within the vehicle to maximize hardware performance by way of top-tier computing power. Hyundai shared that it is currently collaborating with NVIDIA to load an optimized ccOS onto an NVIDIA DRIVE semiconductor.

Lastly, NVIDIA may or may not end up collaborating on Hyundai’s third-generation integrated controller, but when it does arrive, the company states it will become the basis for expansion into mass-producing Level 3 autonomous EVs and eventually commercializing Level 4 and Level 5 autonomous driving capabilities… “in due course.”

As one would surmise, a future with Software Defined Vehicles includes a lot of data, so a platform that can combine and process it throughout a vehicle’s life cycle will be vital. That’s why it’s the fourth floor of Hyundai Group’s “Software House.” Eunsook Jin, executive vice president and head of the ICT innovation division at HMG, explained:

Hyundai Motor Group’s data platform will not only be simply for driving. It will also play an important role in enhancing the convenience and diversity of the customer’s mobility experience by engaging throughout the vehicle’s entire life cycle. Going forward, we’ll also help create a new mobility ecosystem, connecting cars with other mobility devices, based on data connectivity and scalability.

The achieve all these goals to truly bring an entire lineup of Software Defined Vehicles to life, Hyundai will erect a Global Software Center where much of the $12.5 billion will be spent by 2030. The funds will also go toward other vital sectors like its R&D headquarters. While the Group appears confident in its current role in the automotive industry, it appears to just be getting started. Per the release:

As the Group embarks on a new challenge to transform mobility and meet the needs of customers in the future, it will also continue to develop its award-winning models to meet the needs of customers today. The appeal of the Group’s customer offerings has been consistently affirmed, as demonstrated recently by the range of awards bestowed on EV models from the Hyundai, Kia and Genesis brands by critics and media across the globe. Already today, the Group’s cutting-edge SDV technologies, such as Infotainment, Connectivity and ADAS are proving highly popular with customers, and as the technology rapidly develops further, a whole new world of possibilities will open up. This will pace the Group at the forefront of providing entirely new mobility solutions as society changes, transportation means evolve, and software-defined vehicles become commonplace.

There’s a lot more to unfold surrounding Hyundai’s future of Software Defined Vehicles, so we recommend checking out the company’s full release.

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

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Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

  • Global: 9.1 million (+28%)
  • China: 5.5 million (+32%)
  • Europe: 2.0 million (+26%)
  • North America: 0.9 million (+3%)
  • Rest of world: 0.7 million (+40%)

Read more: China breaks records as global EV sales hit 7.2 million in 2025


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The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

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The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Lucid’s electric sedan can drive further, charge faster, and packs more advanced tech than most of the competition. That might explain why it’s leading the segment. The Lucid Air remained the best-selling luxury EV sedan in the US after widening its lead in the Q2.

The Lucid Air is America’s best-selling luxury EV sedan

The 2025 Lucid Air Pure arrived as the “World’s most efficient car” with an EPA-estimated range of 420 miles and a record 146 MPGe.

It just set a new Guinness World Record last week for the longest journey by an electric car after travelling 749 miles (1,205 km) on a single charge.

That record was set in the range-topping Lucid Air Grand Touring model, which is rated for up to 512 miles of EPA-estimated range. On the WLTP scale, it’s rated at 597 miles (960 km). Either way, it still crushed the estimates.

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According to second-quarter sales data, released by Kelley Blue Book on Monday, the Lucid Air is still America’s best-selling luxury EV.

Lucid sold 2,630 Air models in Q2, up 10% from the previous year. Through the first half of 2025, Lucid Air sales are up 17% with 5,094 units sold.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (Source: Lucid)

Tesla, on the other hand, only sold 1,435 Model Ss during the quarter, 71% fewer than it did in Q2 2024. Tesla Model S sales in the US are down 70% through the first half of the year at 2,715.

Although Porsche Taycan sales were up 32% with 1,064 models sold, the significantly upgraded 2025 model year was expected to see even more demand. Porsche has 2,083 Taycans in the US this year, up just 1% from 2024.

Lucid-best-selling-luxury-EV-sedan
Lucid Air Pure interior (Source: Lucid)

Other luxury EV sedans, such as the BMW i5 (1,434), i7 (820), and the Mercedes EQS (498), experienced steep double-digit sales declines year-over-year.

And it’s not just electric luxury sedans. The Lucid Air is currently outselling many gas-powered vehicles in its segment.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (left) and Gravity (right) Source: Lucid

Lucid’s first electric SUV, the Gravity, is also rolling out. Although only five were sold in the second quarter, Lucid is quickly scaling production. Lucid aims to produce 20,000 vehicles this year, more than double the roughly 9,000 it built in 2024.

Earlier today, Lucid’s interim CEO, Marc Winterhoff, confirmed during an interview with Bloomberg that the company expects higher Gravity output in the second half of the year.

The interview was at the grand opening of Panasonic’s new battery cell plant in De Soto, Kansas. Winterhoff said Lucid will start using new cells from the facility, but not until next year.

Lucid’s CEO stressed the importance of establishing a local supply chain, as policy changes under the Trump Administration are taking effect. Lucid and Panasonic are collaborating to localize EV materials, such as graphite. Last month, Lucid secured a multi-year supply agreement with Graphite One for US-sourced Graphite.

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