After a strong start to 2024, Hyundai expects the momentum to continue with some of the most affordable and efficient EVs on the US market. In an exclusive interview with Electrek, Hyundai Motor America CEO Randy Parker said the company is “humble and hungry” as it remains committed to EVs in the US.
Hyundai’s dedication to EVs is paying off
Despite rivals pulling back, Hyundai is doubling down on its EV commitment as it looks to separate itself from the competition.
Its early dedication is already paying off. Hyundai is outpacing the US electric vehicle market with a wide-ranging lineup of award-winning EVs, including the IONIQ 5, IONIQ 6, and Kona Electric.
Hyundai’s EV sales surged 62% in Q1, with the IONIQ 5 and Kona Electric setting new first-quarter sales records. Compared to overall US EV sales, up 2.6% in Q1 (according to Cox Automotive), Hyundai is leaving much of the competition in the rear view.
Parker said “demand for our vehicles, especially EVs, remains high” after the record-setting performance.
Hyundai is “sticking to its strategy,” Parker told Electrek in an interview. According to Hyundai’s US chief, it remains a core part of the automaker’s vision.
Giving consumers confidence
One of Hyundai’s biggest goals is to give buyers who may be hesitant about buying an EV the confidence to make the leap.
According to data from the US Department of Energy, Hyundai has six of the top ten most fuel-efficient EVs in the US this year.
The 2024 Hyundai IONIQ 6 Long Range RWD (18″ wheels) topped the list with 140 MPGe (combined), ahead of the 2024 Lucid Air Pure RWD (19″ wheels) at 137 MPGe. Hyundai’s IONIQ 5 (114 MPGe) and Kona Electric (116 MPGe) also made the list.
Parker told Electrek that Hyundai is giving buyers the confidence to go electric by providing EVs with long-range capabilities, fast charging, and sleek designs. And you get all of that at an affordable price.
Hyundai’s IONIQ 6 is currently the only EV that meets potential buyers’ price, range, and charging targets, according to a study from Boston Consulting Group.
The median requirements include a 20-minute charging time, a 30-minute detour and wait time, a 350-mile range, and a starting price under $50,000.
|
2024 Hyundai IONIQ 6 trim |
Estimated Range (miles) |
Starting Price |
| SE Standard Range RWD | 240 | $38,615 |
| SE RWD | 361 | $43,656 |
| SEL RWD | 305 | $46,365 |
| Limited RWD | 305 | $51,265 |
| SE Dual Motor AWD | 316 | $47,065 |
| SEL Dual Motor AWD | 270 | $49,865 |
| Limited Dual Motor AWD | 270 | $54,765 |
Despite an already affordable price, Hyundai is sweetening the deal with a $7,500 Bonus Cash offer, bringing IONIQ 6 starting prices to as low as $30,000 (excluding destination).
Meanwhile, at $189 per month, the 2024 IONIQ 6 (SE Standard Range) is one of the most affordable vehicles (gas-powered or EV) in the US.
Hyundai’s redesigned 2024 Kona Electric is another low-cost electric option. Hyundai upgraded the Kona EV in every way, with more range, faster charging, and a bold new design. Starting under $33,000, the 2024 Kona Electric is one of the most affordable EVs on the market.
Hyundai is separating itself from the EV pack
Although several US automakers, including Ford and GM, are shifting their strategies, citing slower-than-expected demand, Hyundai remains committed to EVs.
Hyundai’s US boss was quoted as saying, “Why would anybody want to purchase an EV from an [automaker like Toyota or GM] who’s lobbying against EVs?”
Parker added, “If a person is thinking about buying an EV, I think you want to go to a company that is fully committed to selling EVs in the United States.” When asked if Hyundai is this company, Parker told Electrek, “Absolutely.”
Hyundai is “putting its money where its mouth is.” Its first dedicated US-based EV and battery plant in Georgia is set to begin production later this year.
The company was rewarded with its own “Hyundai Day” in Georgia for contributing to the state’s largest economic project. It even tops Rivian’s ($5 billion) plant outside of Atlanta.
Including its suppliers, Hyundai’s EV investments in the state total over $12.6 billion and will generate 50,000 new jobs.
Hyundai is also working with its retail partners and others to improve charging infrastructure and knowledge about EVs. Parker told Electrek that 700 of Hyundai’s 840 dealers in the US are now IONIQ certified, which includes Level 3 chargers, training, and Hyundai certification to sell EVs.
The company’s latest campaign, revealed this week, is a tribute to Hyundai’s dedication to EVs. Hyundai’s new promo video (see the full video here) shows off its lineup of “bigger, better, faster, smarter” electric cars while educating viewers about the benefits.
It also showcases Hyundai’s new high-performance IONIQ N, which was recently named the 2024 World Performance Car of the Year. With up to 641 hp, a 3.5 second 0 to 60 mph time, and several track-ready upgrades, the all-electric performance car is the “most powerful, fun-to-drive Hyundai ever.”
Tesla NACS coming soon, new EVs to look forward to
One of the biggest questions buyers want to know is when Hyundai EVs will have access to Tesla Superchargers.
Parker told Electrek that existing and future Hyundai EV owners will gain access to Tesla’s Superchargers in Q4 2024. Canada will follow in the first half of 2025. Starting in Q1 2025, Hyundai will begin shipping out NACS adaptors.
Hyundai EV owners will gain access to +12,000 Tesla Superchargers across North America, doubling the number of chargers available to EV owners (~30,000).
Although no new IONIQ 5 or IONIQ 6 variants are due out, Parker said Hyundai is excited about the IONIQ 5 N rolling out as one of the few high-performance EVs to hit the market.
Hyundai is chasing the electric production SUV (crossover) record with two 641 HP IONIQ 5 N cars set to compete at Pikes Peak. You can watch the sporty EV race on June 23, 2024.
When asked about Hyundai’s first three-row electric SUV, the IONIQ 9, Parker said, “It’s definitely coming,” without offering any new details.
As for the IONIQ 5 refresh that debuted in South Korea, Parker told Electrek Hyundai is “working on” bringing it to the US.
If you’re ready to see why Hyundai is outpacing the EV pack, we can help you find the right model at an affordable price. You can use our links below to view deals on Hyundai EVs at a dealer near you.
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