Pipe down for a second Elon, the hottest things in the auto industry – the most electric electrics – now come from Hyundai Motor Co and Kia Corp.
Earlier this year, the South Korean carmakers rolled out two new battery-powered cars – the Hyundai Ioniq 5 and its sibling, the Kia EV6 – which promptly tore up the sales charts, passing the Nissan Leaf, Chevrolet Bolt and every other electric vehicle on the market not made by Tesla.
Tesla still sells far more cars, but it took the company a decade to deliver as many electric vehicles as Hyundai and Kia have managed in a few short months. Even Musk has been impressed. The timing was favourable. EV adoption is picking up in the US, thanks to a surge in both climate concern and gasoline prices. And though there’s a run on battery-powered vehicles, there still aren’t many to choose from. Of the 30 or so models for sale on the US market, only a handful can be had for less than US$45,000 and most of those are relatively small, dated cars like the Nissan Leaf.
Starting around US$40,000 , they are drawing buyers with smaller budgets who otherwise may have bought a starter sedan, says Yoon at Edmunds. And yet, they are plush enough inside to pull from the top of the market as well, as drivers trade in luxury cars with internal combustion engines. “We’re used to having – I don’t want to say underdogs – but unique cars,” Emad Zia explained. “And the looks and uniqueness of this car just doesn’t get old.”
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