Hyundai And Kia Have Cracked The EV Code In The U.S.

  • Hyundai and Kia's combined EV efforts have made them the second-biggest EV seller in the U.S. after Tesla this year.
  • The Korean automakers have enjoyed an impressive 11.17% market share in the American EV market as of May 2024.
  • Learning early lessons from their predecessors, Hyundai and Kia have strategically built a successful lineup of EVs.

Just like many other legacy automakers, Hyundai and Kia have been active with electrification. Both of them currently have three EVs each in their portfolio in the U.S. Hyundai has the Kona Electric, Ioniq 5, and the Ioniq 6, whereas Kia sells the Niro EV, EV6, and EV9. Count in Genesis’ G60, Electrified GV70, and the Electrified G80, and you have nine EVs overall.

Now, coming to the crux of it, the combined efforts of Kia and Hyundai have meant that the auto group is the second-biggest EV seller in the U.S. this year until May, second to just Tesla. The auto group sure seems to have figured out what the EV consumers are looking for, and with new products in the pipeline, things are looking bright.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Yonhap News Agency.

hyundai and kia have cracked the ev code in the u.s.

Hyundai Ioniq 5 N

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What Do You Think Is The Biggest Reason For Hyundai And Kia's Success In The Electric Segment?

Kia and Hyundai enjoy an 11.17-percent share in the American EV market as of May 2024, staving off some of the biggest names in the EV industry. Behind only Tesla, what do you think is the biggest reason for the brands' success?

An 11.17-percent Share Is Impressive

hyundai and kia have cracked the ev code in the u.s.

2023 Kia EV6 GT AWD

Korea Automobile Manufacturers Association reported that of the 437,246 EVs sold in the first five months of this year, the Hyundai Motor Group accounted for 48,838 EVs. This translates to a market share of 11.17-percent, which is second only behind Tesla which rules the roster with a market share of 51.7-percent. While catching up with Tesla is a Herculean task, Hyundai and Kia have made a mark for themselves.

Yonhap News Agency also reported that in 2020, the Korean automaker enjoyed a market share of 3.2-percent, which increased to 10.6-percent in 2022, and dropped to 6.8-percent in 2023. Of all the hybrid and PHEVs the brands sell, pure EVs accounted for 40-percent of the sales; a stark increase from 17.2-percent in 2022. 2024 is looking for them the companies so far, but we’ll have to wait and watch if they can end the year on a high.

hyundai and kia have cracked the ev code in the u.s.

Hyundai Ioniq 5

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hyundai and kia have cracked the ev code in the u.s.

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Hyundai And Kia Know A Thing Or Two About EVs

hyundai and kia have cracked the ev code in the u.s.

silver 2022 Kia EV6

The Korean companies jumped onto the EV wagon quite early and made some smart decisions right from the beginning. Hyundai came up with its Kona Electric back in 2019, whereas Kia kicked off its EV-olution with the Niro EV in 2016.

The Kona Electric wasn’t its first EV, though. Hyundai came up with the Sonata Electric back in 1991, six examples of which were made through the next year, but the first mass-market EV was the BlueOn launched in 2009. Call it experience, but Hyundai got it right with the Kona Electric, and then hit it out of the park with the Ioniq 5. The Ioniq 6 soon followed and it appeared to be a true-blue rival to the segment leader, the Tesla Model 3.

hyundai and kia have cracked the ev code in the u.s.

Driving shot of a 2025 Kia Sorento Hybrid

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Soaking in the learning from its cousins, Kia also debuted its first electric vehicle, the Niro EV, back in 2016, and it has been a staple in the automaker’s arsenal to date. But, it was the EV6 that debuted in 2021 that catapulted Kia into the major leagues. The EV6 was a runaway success and had everything going in its favor, which is why it even won the TopSpeed EV of the Year in 2022. The only chink in its armor was the not-so-impressive range, and that continues to haunt it even in 2024.

Seeing how electric SUVs were doing well for the brand, Kia then released the three-row EV9 to take its dominance up a notch, and it has started fairly well, too. With a mid-size crossover SUV and a full-size SUV in its portfolio, Kia then decided to bring in a compact SUV to cover all the bases through the EV3, which will debut in the U.S. in the near future.

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