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HomeBusinessElectrifying competition for Tesla, Hyundai and Kia EVs make record sales

Electrifying competition for Tesla, Hyundai and Kia EVs make record sales

Credit Kia Electric and Hyundai

Tesla Motors Inc. has long dominated the electric vehicle (EV) market, being one of the pioneering manufacturers in the world. However, it has already begun facing electrifying competition as other established carmakers are finding their footing; away from diesel and gas and towards electricity. Being an early adapter Tesla is still ahead of the curve but other automakers including Hyundai, Kia, Ford and more are catching up and might zoom ahead, sooner rather than later.

South Korean automakers Hyundai and its sister company Kia recently launched new models called Ioniq 5 and EV6. Both these electric vehicles have had robust sales and have gone ahead of established competition that includes
Nissan Leaf
Ford Mustang Mach-E and
Chevrolet Bolt.

Now these modern, affordable South Korean cars are coming after Tesla sales. They will offer stiff competition to Tesla Motors, a long time leader and established electric vehicle maker, at a time when its CEO Elon Musk is busy putting out self-lit and other fires in his recently acquired social media platform Twitter.



According to the site, CarFigures, Kia’s EV6 sold 19,267 vehicles in November while Hyundai’s Ioniq 5 sold 21,262. The combined figures of the two companies was 40,529 which is much higher than the 28,089 sold by Ford. Tesla’s Model Y, which is somewhat comparable to the EVs by Hyundai and Kia, in both size and price, sold 56,937 vehicles, in November.

Edmonds analyst Joseph Yun told Bloomberg, “From an EV perspective, they’re really cleaning the floor.” He added, “To be honest, I don’t know if any dealers around me have stock.”

In June, Tesla CEO Elon Musk tweeted, “Hyundai is doing pretty well.” WebFans are super excited.

Customers who use gas-powered models of Kia and Hyundai will also start considering an electric vehicle purchase in the future as they are already comfortable with the brand. There is an inherent trust in the brand that is expected to translate to higher sales.

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https://www.cweb.com/hyundai-card-to-join-web3-with-tech-startup-and-build-wallet-and-nfts/

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