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I drove Kia's $78,000 EV9 family SUV. It's pricey, but one of the finest EVs money can buy. 

I drove Kia's all-new $78,000 EV9 family SUV. Here are 22 cool features that help it stand out from the crowd.

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> stands to benefit from any removal of consumer tax credits on electric vehicle purchases.</li><li>The move could hurt competitors more, CEO Elon Musk said.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> supports a Trump plan to end tax credits of up to $7,500 for electric vehicle purchases.That might sound confusing: Why would the CEO of Tesla want to end a program that makes it cheaper for people to buy EVs?Well, according to Musk, it would devastate Tesla's rivals. And Tesla wants to keep its strong lead in the US EV market, which recently slipped under 50% for the first time."I think it would be devastating for our competitors and for Tesla slightly," Musk said in a July earnings call, predicting the impact of the tax credits ending. "But long term probably actually helps Tesla, would be my guess."On Thursday, Reuters reported that Trump plans to end the EV tax credit, with support from Tesla representatives. In a related post on X, Musk called for an "end all government subsidies, including those for EVs, oil and gas."Tesla has had a longer time than some of its rivals to <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-list-government-subsidies-tesla-billions-spacex-solarcity-2021-12">benefit from government subsidies</a>. Its market lead is well established, and it has led an EV pricing war that has squeezed its rivals, making it harder for them to survive if consumer demand falls even further.Put simply: Tesla wins if ending the tax credit pressures smaller rivals enough to stall their growth or even fold.<h2 id="91842e59-2373-4c08-abdd-17185b0bea0d">Tesla sells more EVs than anyone else, and more profitably</h2>In the third quarter of 2024, Tesla <a target="_blank" class="" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">reported</a> a pre-tax profit margin of 18%, well above the industry average of around 9%. Ford, the only competitor to break out its EV-specific finances, <a target="_blank" class="" href="https://s201.q4cdn.com/693218008/files/doc_financials/2024/q3/Press-Release-Ford-2024-Q3-Earnings.pdf">reported</a> a -104% margin for its Model e unit.Yet many of Tesla's vehicles are also priced well below many competitors. The Model 3 starts at $42,490 (after a cheaper option disappeared earlier this year). That's well below the average EV price in the US, which held steady at nearly $57,000 in October, according to Kelley Blue Book data.In an effort to juice sales, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-can-make-cars-cheaper-than-competitors-2024-6">Tesla has drastically cut prices</a> on many of its cars over the past year, instigating an industry-wide price war that has cut into its own margin in pursuit of maintaining its industry-leading market share. Of the nearly 600,000 EVs sold in the US in the first half of 2023, <a target="_blank" class="" href="https://www.coxautoinc.com/wp-content/uploads/2024/07/Q2-2024-Kelley-Blue-Book-Electric-Vehicle-Sales-Report.pdf">half</a> were made by Tesla. Ford, in second place, accounted for just over 7% of EVs sold in the same period."While losing the EV tax credit could also hurt some demand on the margins in the US, this will enable Tesla to further fend off competition from Detroit as pricing/scale/scope is an apples to oranges when compared to the rest of the auto industry once the EV tax credit disappears," Dan Ives, a longtime bullish analyst at Wedbush, told clients in a note on Thursday.<h2 id="c6cefac7-9186-47f8-8f0a-f2fb65808785">Tesla is ahead of the curve in building a US manufacturing presence</h2>Eliminating the <a target="_blank" class="" href="https://www.businessinsider.com/federal-state-electric-car-vehicle-tax-credits-rebates-qualify">consumer tax credit</a>, part of President Joe Biden's Inflation Reduction Act, would need congressional approval. It's not yet clear if Trump and the incoming Republican-controlled Congress would also target other IRA tax incentives, like those supporting domestic manufacturing of cars, batteries, and other components. Competitors like BMW, Honda, and Hyundai have <a target="_blank" href="https://techcrunch.com/2024/07/20/tracking-the-ev-battery-factory-construction-boom-across-north-america/">raced</a> to scale up factories state-side to take advantage of those credits.Tesla has been ahead of this curve in manufacturing, too, with six US factories churning out cars and batteries. That work has paid off, and many Tesla models are regularly named as the most "<a target="_blank" href="https://www.cars.com/american-made-index/">American-made</a>" compared to competitors, many of which rely on factories in Mexico. In fact, only one other American automaker even cracked the top 10 in 2024.Tesla CFO Vaibhav Taneja said in a July earnings call that the company has taken advantage of manufacturing credits, but "we always drive ourselves to say, OK, what if there is no IRA benefit? And how do we operate in that kind of an environment? Like Elon said, we definitely have a big advantage as compared to our competition on that front."In October, the Alliance for Automotive Innovation, an industry group representing Ford, GM, Honda, Toyota, and others, <a target="_blank" href="https://subscriber.politicopro.com/article/2024/11/auto-trade-group-to-gop-tax-writers-keep-bidens-ev-credits-00189430">urged</a> Congress to keep the tax credits.The tax credits, including those for commercial leasing and manufacturing, are "critical to cementing the US as a global leader in the future of automotive technology and manufacturing," they said in an October letter to Congress published by <a target="_blank" href="https://subscriber.politicopro.com/f/?id=00000193-277d-dea7-afbb-b77f708f0000">Politico</a>.The group, which does not include Tesla, did not respond to a request for comment. A spokesperson for the Trump transition team did not respond to a request for comment.While Musk supports cutting the EV tax credit, reports of its potential demise appear to have spooked investors. Tesla shares fell about 5% following the Reuters report, while Rivian shares fell 11%.Musk and other Tesla leaders have long said autonomous vehicles are the future of Tesla, not just EVs, and encouraged potential investors to think much more long-term.Additional reporting by Benjamin Zhang.

Why Musk supports Trump getting rid of EV tax credits

<keyword id="19906967" type="General" weightage="100" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> is looking to consolidate its position in the <keyword id="20027167" type="General" weightage="20" keywordseo="SUV" source="keywords">SUV</keyword> segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched a midsize SUV coupe <keyword id="20400827" type="General" weightage="20" keywordseo="Curvv" source="keywords">Curvv</keyword> with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August. The model would be competing with the likes of <keyword id="2883300" type="General" weightage="20" keywordseo="Hyundai-Creta" source="Orion">Hyundai Creta</keyword>, <keyword id="7720018" type="General" weightage="20" keywordseo="Kia-Seltos" source="Orion">Kia Seltos</keyword>, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda Elevate, among others. "Curvv is being positioned in the fast-growing, mid-size SUV segment, which is roughly 16% of the whole industry (passenger vehicle) size. If translated into numbers, it would be like 7 lakh units a year," Tata Motors Passenger Vehicle MD Shailesh Chandra told PTI in an interaction. The segment is very competitive with various brands having a product already in the market, he noted. Therefore, if one enters this segment so late, then it will have to think of coming up with a slightly differentiated approach, Chandra said. "And that was the thinking behind Curvv, which comes with an SUV coupe body style. We saw that this was gaining popularity globally, especially in the premium or luxury segment," he added. Further, he said: "So we thought, why don't we bring this into the crowded segment as a fresh, refreshing kind of a body style." When asked about sales expectations from the model, Chandra said: "We have come with this model, with the best in class features. It's a differentiated product in this and therefore we think it is going to perform well." He noted that Tata Motors currently has a market share of around 19% in the SUV segment and expects the new model to help it grow further. "We'll gain from where we are. The market leader in SUVs would be, say, 21-22 %, so it's a crowded segment. It's not that one player is holding the roost here. "All the top 3-4 players in SUVs are around the same market share figure," Chandra said. He noted that the company is also looking to enhance its dealer network by around 10-15 % in the next one year. "We have a very aggressive plan of expanding dealerships. We will need to have an enhanced network. We will have to make them bigger, also in size. And therefore, for EVs, we have started separation of the outlets. So there will be expansion in touchpoints, not only on the sales side, but big time on the service side as well," Chandra said. <keyword id="20400828" type="General" weightage="20" keywordseo="tata-curvv" source="keywords">Tata Curvv</keyword> comes with two petrol and a diesel engine option. "The introduction of the Curvv further enhances our SUV portfolio as a comprehensive mid-SUV product with multiple powertrains, several first-in-segment features, a brand new capable architecture - ATLAS and Level 2 ADAS," Chandra said. Besides Curvv, Tata Motors sells models like Punch, Nexon, Harrier and Safari in the domestic market.

Tata Motors eyes gains in SUV space as it drives in its Curvv

<keyword id="434999" type="General" weightage="50" keywordseo="hyundai-motor-group" source="Orion">Hyundai Motor Group</keyword> said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward the group's planned investments in domestic electric vehicle (EV) plants. <keyword id="70910" type="General" weightage="80" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword>, its smaller affiliate <keyword id="6372046" type="General" weightage="80" keywordseo="kia" source="Orion">Kia</keyword> and auto parts maker <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Mobis will receive $2.1 billion, $3.3 billion and $200 million, respectively, from their operations in the US and Europe in the form of dividends, the group said in a statement. Hyundai Motor said it will also receive dividends from its Indian operations, reports Yonhap news agency. "The dividends from their overseas operations will help the three companies cut back on bank loans, which will enhance their financial status and will allow them to make an aggressive investment (in EV plants)," the statement said. The group's overseas operations, including Hyundai Motor America, Hyundai Motor India, <keyword id="17681423" type="General" weightage="50" keywordseo="hyundai-motor-manufacturing-czech" source="Orion">Hyundai Motor Manufacturing Czech</keyword>, Kia America, Kia Europe and Kia Slovakia SRO, posted improved earnings results in the 2021-2022 period despite the COVID-19 pandemic. Hyundai Motor plans to complete a 150,000-unit-a-year EV plant in its main Ulsan plant, 299 kilometers southeast of Seoul, by 2025. In April, Kia began the construction of a 150,000-unit-a-year EV plant inside its existing factory in Hwaseong, just south of Seoul, with a goal to start production in late 2025. In the same month, the Korean automotive group announced it will invest 24 trillion won in its domestic EV plants and other EV projects by 2030. The three affiliates will collectively make the investment to help the group become the world's No. 3 EV maker in terms of sales by 2030. The companies plan to spend most of the planned investments in expanding their existing EV production lines, developing future mobility parts and technologies, establishing EV infrastructure and exploring new EV business opportunities. Hyundai Motor and Kia plan to release a total of 31 battery-powered EV models by 2030, including the Kia EV9 this month and the Hyundai IONIQ 7 next year. Hyundai Motor and Kia have set a combined sales goal of 7.52 million units this year, up 9.8 percent from the 6.85 million units they sold last year. The two together form the world's third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group. On top of the domestic EV plants, the group is building a 300,000-unit-a-year EV and battery plant in the U.S. state of Georgia, with a goal to start production in the first half of 2025. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/stock-markets-snap-two-day-falling-streak-it-oil-shares-advance/articleshow/100937567.cms">Stock markets snap two-day falling streak; IT, oil shares advance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/with-international-travel-on-the-rise-indian-aviation-regulator-eases-norms-for-carriers/articleshow/100937433.cms">With international travel on the rise, Indian aviation regulator eases norms for carriers</a>

Hyundai to utilise $5.9 billion in overseas operations' money for EV investments

<ul class="summary-list"><li>EV charging has improved, but there is still a long way to go to convince the average driver.</li><li>Demand for electric vehicles in the US fell 14% in 2023, according to EY's study.</li></ul>We're getting closer to a cure for range anxiety, so why don't more people <a target="_blank" class="" href="https://www.businessinsider.com/automakers-back-to-the-drawing-board-ev-plans-2024-2">want an EV</a>?Only 34% of US shoppers planning to buy a vehicle in the next two years say they're likely to buy an EV, down significantly from the prior year, despite diminishing concerns about things like range anxiety and charging.The diverging trends were illustrated in EY's annual <a target="_blank" class="" href="https://www.ey.com/en_us/newsroom/2024/09/us-consumers-less-likely-to-purchase-an-ev-than-last-year">Mobility Consumer Index</a>, which surveyed 20,000 respondents in 28 countries who said they were considering buying a new car in the next 24 months. Among US respondents, the firm found that only 24% of potential buyers cited range limitations as a top concern (down from 30% in the prior year), and only 23% are concerned about finding a place to plug in (down from 34%).This dip in demand is reflected in a <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">stagnation in EV sales growth</a> over the past year as companies adjust to a new crop of more practical green-car shoppers. Simply put, these shoppers are also much more difficult to please than the enthusiastic early adopters of years past. EY found that only 24% of US car buyers named range limitations a top concern, down from 30% a year ago. Meanwhile, only 23% of US buyers said they were concerned about <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5">finding a place to plug in</a>, down from 34% of respondents in 2023.That should be a huge deal, but <a target="_blank" class="" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">today's electric-car shoppers</a> are less willing to endure the steep learning curve associated with switching to a fully electric car — even if they're getting cheaper and the tech is getting better."To keep momentum and make EV ownership appealing, it's imperative to educate and create a seamless customer experience from the dealership to the charge point," EY's Americas Power &amp; Utilities eMobility Leader Marc Coltelli said in the study.Battery-powered cars accounted for a record 7.6% of all car sales in 2023, according to Kelley Blue Book, up from 5.9% in 2022. But that sales growth has hit a plateau after years of exponential growth. Industry executives and analysts this year are estimating a more modest increase by the end of 2024, with EVs expected to account for between 8% and 10% of sales this year.<h2 id="5e995481-cafc-4a05-bbdd-943490394d6e">EV charging has improved, but there is still a long way to go</h2>Both the automotive industry and the US government have rallied around this issue, and at the start of this year the number of public charging stations in the US had doubled from 2020, according to Pew Research and the Department of Energy.In addition to this improvement in infrastructure, several EVs have been engineered to drive about as far as a gas car on a single charge, and batteries today are built to charge faster.But it's still not enough. The network of 61,000 public charging stations in the US pales in comparison to the roughly 120,000 gas stations nationwide. And just because a charger exists doesn't mean it's in the right place or compatible with the EV you're driving.<a target="_blank" class="" href="https://www.jdpower.com/business/press-releases/2024-us-electric-vehicle-experience-evx-public-charging-study">JD Power</a>'s annual study of EV public charging experiences released in August found that 19% of respondents visited a charger but were not actually able to charge their vehicle. A majority of these failed charging visits were due to lack of availability or the charger being broken, JD Power found.Affordability is also a key issue for today's electric car shoppers, an issue the industry has tried to address with lower sticker prices. The average price paid for an EV has fallen steadily for the past year, and some of the best <a target="_blank" class="" href="https://www.businessinsider.com/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8">leasing deals</a> are reserved for electric cars right now.But EV shoppers have found a new cost to angst over.EY also found improvements in <a target="_blank" class="" href="https://www.businessinsider.com/meet-dozens-of-startups-leading-the-electric-car-charging-market-2022-2">charging and range attitudes</a> were dampened by an increase in worry about battery life and maintenance fees, with 27% of US respondents reporting concerns about expensive batteries.<h2 id="4c339c1e-7bfe-4082-9692-fca09b6cc911">EVs are still a tough sell for the average buyer</h2>US consumers are still quite skeptical about making the jump to a fully electric car, with 21% of respondents in EY's study saying they prefer a gradual transition from gas-powered cars to battery-powered cars.That's stoking demand for <a target="_blank" class="" href="https://www.businessinsider.com/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10">hybrid vehicles</a>, which come in plug-in varieties or with gas-electric engines that don't need to recharge at all, due to the higher mileage per gallon and less of a lifestyle switch."With many still hesitant to go all in with EVs, hybrids offer an 'easier-to-swallow' solution," EY Americas Aerospace, Defense and Mobility Leader Raman Ram said in the report. "For those who are looking to transition due to the environment, hybrids allow owners to lessen their reliance on fuel and creates options for batteries and parts. For many, it's a win-win."It's not quite that simple, though. Hybrids are hard to find right now as automakers rush back to the once-withering segment. The current mismatch between supply and demand for these vehicles makes shopping for them stressful and <a target="_blank" class="" href="https://www.businessinsider.com/plug-in-hybrid-prices-soaring-demand-electric-cars-2024-9">prices hard to swallow</a>.

Drivers are feeling better about EV range and charging infrastructure, but still aren't ready to go electric

<ul class="summary-list"><li>Blue Bird Corp. is the best performing EV stock so far this year.</li><li>The bus manufacturer has seen a boom in its EV bus business thanks to a $5 billion government program.</li></ul>The best-performing electric vehicle stock is a little-known school bus maker. <a target="_blank" href="https://markets.businessinsider.com/stocks/blbd-stock?miRedirects=1">Blue Bird Corp.</a>, which has a market cap of about $2 billion, has started to diversify from its diesel and gas-power buses to electric, boosted by government funding.Shares of Blue Bird have surged 116% year-to-date, far outpacing other EV stocks, which are mostly down this year, including <a target="_blank" href="https://markets.businessinsider.com/stocks/tsla-stock?miRedirects=1">Tesla</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/rivn-stock?miRedirects=1">Rivian</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/lcid-stock?miRedirects=1">Lucid</a>, and a slew of Chinese EV companies.<div type="image" title="Electric vehicle stocks" height="694" width="894" msid="110746503" hostid="261" sizebytes="25322"></div>In its fiscal second-quarter earnings report released last month, Blue Bird said its revenue grew 15% year-over-year to $346 million, outpacing analysts' estimates by nearly $50 million, while its profits more than tripled to $0.89 per share.The school bus manufacturer sold a record 210 electric school buses in the quarter and said it had an order backlog of about 500 electric buses, with bookings soaring 56% from the year-ago period.Helping fuel Blue Bird's EV school bus business is the US Environmental Protection Agency's Clean School Bus Program, which was established in <a target="_blank" href="https://www.businessinsider.com/biden-laws-us-infrastructure-invest-funding-2024-3">the 2021 Bipartisan Infrastructure Law</a> and provides $5 billion in funding to replace diesel school buses with electrified buses.Electric school buses now make up 9% of Blue Bird's revenue, up from 6% last year, and is set to rise as funding from the EPA's EV school bus program continues to flow to districts looking to upgrade their fleet.A big benefit to Blue Bird is that electric school buses will significantly increase its average selling price and profit margins on the vehicles it produces.According to research from Barclays, an electric school bus can sell for more than $300,000 compared to just $100,000 for traditional school buses."This is an entirely different Blue Bird bus revenue and gross margin structure compared with just a year ago with bus prices up significantly," Blue Bird CEO Phil Horlock said on the company's most recent earnings call.Needham said in a note last month that it expects the growth of Blue Bird's EV business to continue."EV school bus growth is in the early innings. We expect continued strong demand as school districts compete for essentially free buses, with higher, known ASPs over a multiyear period allowing BLBD and industry peers time to drive costs lower before market prices take over," Needham analyst Chris Pierce said.Needham rates Blue Bird at "Buy" with a $52 price target.

The best-performing EV stock this year is a school bus manufacturer    

Kia revealed a 3-row electric SUV with swiveling seats and a futuristic design &mdash; see the EV9

<keyword id="13667465" type="General" weightage="50" keywordseo="carmaker-kia-india" source="Orion">Carmaker Kia India</keyword> on Thursday entered <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s EV market with 'EV6'. The 'EV6' is the first <keyword id="1604844" type="General" weightage="50" keywordseo="bev" source="Orion">BEV</keyword> (battery electric vehicle) from <keyword id="6372046" type="General" weightage="100" keywordseo="kia" source="Orion">Kia</keyword> and was unveiled globally in March 2021. The vehicle is built on Kia's new dedicated EV platform 'E-GMP' and is pegged to offer premium mobility solutions to its customers. "The brand will only be bringing limited units of the car and bookings of the vehicle will commence on May 26, 2022, followed by its launch soon after," the company said in a statement. "The EV6 will be an exclusive offering from <keyword id="4151067" type="General" weightage="50" keywordseo="kia-india" source="Orion">Kia India</keyword> and only available in limited quantities in 2022. With the vehicle, the company doesn't just want to target the EV customers but intends to reach out to every potential premium car customer." According to the statement, EV6 is the most hi-tech Kia ever made. "The 'EV6' is a true game-changer, designed from the ground up to make electric mobility fun, convenient, and accessible." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-is-killing-call-recording-apps-on-android-phones-from-may-11/articleshow/90974410.cms">Google is killing call recording apps on Android phones from May 11</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/indian-origin-engineers-introduce-ai-powered-smart-glasses-for-visually-challenged-people-details-here/articleshow/90974873.cms">Indian-origin engineers introduce AI-powered smart glasses for visually challenged people — details here</a>

Kia EV6 will be the company's first electric car in India, bookings begin May 26

<ul class="summary-list"><li>Electric car shoppers are increasingly fickle, dealers told Insider.</li><li>The slowdown in EV demand might be worse than car companies think.</li></ul>Car dealers have a warning for their manufacturers: the days of early-adopter <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-revolution-hits-delays-production-sales-tesla-china-2023-4">electric vehicle sales are all but over</a>.For years, early EV adopters were generally an easy sale, three car dealers told Insider. These buyers arrived on car lots determined to drive off in a specific plug-in make and model.Now, electric car shoppers are more fickle. More and more often, they are comparison shopping EVs against hybrid and gas-powered vehicles, dealers said.That's leading dealers to use <a target="_blank" href="https://www.businessinsider.com/dealers-turning-away-evs-velectric-cars-demand-cools-inventory-2023-8">more aggressive sales tactics on plug-ins</a>. They warn this could make EV demand appear more robust than reality, and make it harder for car manufacturers to predict demand."Most dealers now are really pushing EVs off their lot, which probably distorts the reporting manufacturers are looking at," Vince Sheehy, a car dealer in the Washington, D.C. area, told Insider. "I think EV sales are even slower than they actually understand them to be."This warning bell from dealers is the latest sign that after years of exponential growth, the <a target="_blank" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">electric car segment is facing a looming plateau</a>. Already, car companies seem to be reacting to changes in demand, after <a target="_blank" href="https://www.businessinsider.com/automakers-over-estimated-electric-vehicle-demand-early-adopters-2023-10">overshooting their EV predictions for this year</a>.After hovering for years around 1% of the total US car market, EV sales have been on a tear since 2019. Last year, the segment hit a record of 300,000 units sold and EVs accounted for 9% of all sales through September of this year.Dealers like Sheehy say that pace is likely to slow as more sure-fire EV sales are harder to find. When compared to other segments, electric cars still have too many strikes against them, he said."No matter what claim somebody can make about the long-term ownership cost of a vehicle, if the entry point is $45,000-plus, that's still steep," Sheehy said. "EVs are limited in the segments they play in, too, so if you want something like a three-row you're looking at $60,000 plus before you really have any options."<h2>EV prices fell, but they're still too high</h2>Led by <a target="_blank" href="https://www.businessinsider.com/teslas-price-cuts-discounts-serious-surge-in-buyer-interest-2023-1">Tesla's many price cuts this year</a>, the average price paid for a plug-in car has taken a nosedive in 2023.Last month the average electric car sold for $58,683, down more than $7,000 from the peak last summer, according to Kelley Blue Book. A new cadre of <a target="_blank" href="https://www.businessinsider.com/tesla-tax-credit">federal incentives</a> is also easing some of the financial pain, but dealers say their shoppers still can't quite make the math work as a perfect storm of <a target="_blank" href="https://www.businessinsider.com/car-loan-vehicle-shoppers-denied-what-to-do-2023-7">macroeconomic changes</a> have made buying a car more difficult.Cameron Johnson, CEO of Magic City Auto Group, a Virginia dealership group selling mostly domestic brands, said affordability issues hit the electric F-150 Lighting before Ford could really react. He sees the <a target="_blank" href="https://www.wsj.com/business/autos/ford-considers-cutting-shift-at-f-150-lightning-pickup-plant-uaw-memo-says-91075154">latest production cuts</a> as a delayed reaction to canceled reservations for the truck."We had a hundred-plus reservations, and ultimately those were people that only committed a hundred dollar reservation," Johnson told Insider. "By the time it was their turn to order interest rates had moved quite substantially. The price on the vehicle had moved quite substantially and not as many people ultimately ordered the Lightning."Alexa St. John contributed reporting

It's getting harder for dealers to sell EVs. That's a bad sign for the industry.

<ul class="summary-list"><li>Kia unveiled its latest electric SUV. </li><li>The compact EV5 will go on sale in China later this year. </li></ul>Kia is on a roll. The Korean brand just revealed its second <a target="_blank" href="https://www.businessinsider.com/coolest-electric-cars-ev-tesla-cybertruck-chevy-bmw-kia-ev9-2023-8">new electric SUV</a> this year — and it's a stunner.The EV5, unveiled at an auto show in China on Friday, will have two rows, a sleek interior, and all the flashy design elements Kia is now known for in the electric-vehicle era.<div type="image" title="A blue Kia EV5 electric SUV against a blue background. " height="1350" width="2400" msid="103072965" hostid="261" sizebytes="48388"></div>It has the same boxy styling and slim lights as the brand's larger, three-row <a target="_blank" href="https://www.businessinsider.com/kia-electric-suv-ev9-revealed-three-row-telluride-photos-2023-3">EV9</a>. Flush-mounted door handles and chunky wheels add to the futuristic look.<div type="image" title="The beige interior of the Kia EV5 SUV. " height="1350" width="2400" msid="103072967" hostid="261" sizebytes="120646"></div>All of the Hyundai Group's <a target="_blank" href="https://www.businessinsider.com/best-electric-car-reviews-ev-2023-8">latest EVs</a> have basically put industry-leader <a target="_blank" href="https://www.businessinsider.com/elon-musk-emails-all-tesla-staff-to-complain-about-cybertruck-2023-8">Tesla</a> to shame with bold, forward-thinking designs — just look at the <a target="_blank" href="https://www.businessinsider.com/favorite-electric-vehicles-porsche-tesla-hyundai-mercedes-bmw-rivian-2023-4">Hyundai Ioniq 5</a>, <a target="_blank" href="https://www.businessinsider.com/kia-ev6-gt-electric-suv-review-tesla-rival-2023-2">Kia EV6</a>, and <a target="_blank" href="https://www.businessinsider.com/genesis-gv60-review-kia-ev6-hyundai-ioniq-5-tesla-y-2023-8">Genesis GV60</a>. The EV5 is no exception.<div type="image" title="A blue Kia EV5 electric SUV against a blue background. " height="1350" width="2400" msid="103072969" hostid="261" sizebytes="48056"></div>The interior looks spacious and modern. The passenger seat extends over the center console area, creating what almost looks like a bench seat. But it doesn't look like there's an extra seatbelt, so we'll have to wait and see what Kia's intention there is.<div type="image" title="The beige interior of the Kia EV5 SUV. " height="1350" width="2400" msid="103072971" hostid="261" sizebytes="115550"></div>Just like in the EV9, drivers will get a little dedicated touchscreen panel for controlling the climate settings, which is a nice touch.<div type="image" title="The beige interior of the Kia EV5 SUV. " height="1350" width="2400" msid="103072973" hostid="261" sizebytes="93614"></div>Kia hasn't mentioned any of the EV5's specs yet. But based on Kia's other offerings, it'll likely offer ultra-fast charging and around 300 miles of range in some trims.<div type="image" title="A blue Kia EV5 electric SUV against a blue background. " height="1351" width="2400" msid="103072974" hostid="261" sizebytes="39540"></div>The EV5 will go on sale in <a target="_blank" href="https://www.businessinsider.com/cheap-chinese-electric-cars-will-upend-the-us-vehicle-market-2023-5">China</a> later this year, before launching in "select global markets," Kia said. It hasn't said whether or not the EV5 is coming to the US yet.

Kia revealed yet another awesome-looking electric SUV — and it's headed to China first

<ul class="summary-list"><li>Kathleen Goforth went on a 9-day road trip to the Carrizo Plain National Monument, California.</li><li>The monument didn't have any EV chargers for her Tesla Model Y within more than 50 miles.</li></ul>Kathleen Goforth said she took her <a href="https://www.businessinsider.com/tesla-owner">Tesla Model Y</a> on a 9-day road trip through a rural area and had to get creative at one point when it came to charging.Goforth, a climate-action advocate, detailed her experience traveling to the Carrizo Plain National Monument with her husband in a <a href="https://www.acterra.org/blog/2023/7/25/all-electric-road-trip">blog post on Acterra</a>, an environmental-education nonprofit."It is remote and almost entirely undeveloped – the perfect challenge for planning our first road trip in our new, all-electric Tesla Model Y," Goforth wrote of the Carrizo Plain, a grassland in San Luis Obispo County, California, that is about 50 miles long and 15 miles wide. "There are no services within or anywhere near the Monument – no food, water, gas stations, and, certainly, no EV charging stations. Could we do it?"The Tesla owner said she planned her route ahead of time using a Travelocity filter that allowed her to find hotels with EV chargers and Plugshare's Trip Planner, which helped her plot out charging stations along the way.Goforth said they faced their greatest hurdle once they reached the Carrizo Plain because there were no chargers within at least 50 miles of the location. At their first stop, the couple was able to make use of a Level 2 fast charger, but they had to find other methods to charge at the California Valley Lodge, the only motel that was within 20 miles of the Carrizo Plain National Monument, the Tesla owner said. Goforth said the couple had initially planned to charge using an RV hook-up site near the lodge and were a "little nervous" about how it would work. But, they were told the RV hook-up site was no longer available when they arrived.However, the owner of the lodge told the couple they could use an unused gas station across the street that was also owned by the lodge.<div type="image" title="Kathleen Goforth took her Model Y on a road trip through a rural area and had to use an outlet at an abandoned gas station to recharge at one point." height="1210" width="1613" msid="102339275" hostid="261"></div>"Although the pumps had been removed long ago and the building was vacant, the electricity still worked and there was an exterior outlet we could use," Goforth wrote of the gas station. "It was only a standard 120V outlet, so we would be trickle charging, not supercharging, but that was sufficient to more than replace, overnight, whatever energy we used on our daily excursions around the Monument. I loved the poetic justice of recharging our EV at a defunct gas station!"A trickle charge adds only a few miles an hour to the car's battery life, while a Level 2 charger can charge an EV to 80% from four to 10 hours, according to the <a href="https://www.transportation.gov/rural/ev/toolkit/ev-basics/charging-speeds" target="_blank" rel="noopener">Department of Transportation.</a> The couple relied on the old gas station to replenish their car for two days while they explored the surrounding area and later used a Level 2 charger and Tesla Supercharger to finish their trip and eventually travel home, Goforth said.In the blog post, Goforth said she traveled nearly 1,000 miles and saved on fuel costs."Now that we've experienced how easy, fun, and economical road tripping in an EV can be, we're looking forward to many more all-electric adventures," she wrote.Not all EV owners share Goforth's optimism about charging their vehicles on long road trips. EV owners have shared horror stories about trying to <a href="https://www.businessinsider.com/couple-electric-car-kia-road-trip-charging-range-anxiety-2023-2" rel="">find chargers on long road trips</a>, including a road trip where a Kia EV owner had to <a href="https://www.businessinsider.com/couple-electric-car-kia-road-trip-charging-range-anxiety-2023-2" rel="">stop 12 times to charge</a> at <a href="https://www.businessinsider.com/electric-car-road-trip-highlights-issues-driving-cross-country-charging-2022-6" rel="">slow public chargers</a> and a Mustang Mach-E driver who had to <a href="https://www.businessinsider.com/tesla-owners-hold-advantage-electric-cars-charging-stations-2021-7" rel="">stop at four charging stations</a> while frantically searching for a working one. Earlier this year, another Tesla owner said he faced some "hiccups" on a 6,392-mile road trip but that the carmaker's <a href="https://www.businessinsider.com/tesla-driver-road-trip-using-full-self-driving-autopilot-fsd-2023-1">Autopilot driver assist feature</a> was a "lifesaver." A Hyundai Ioniq 5 EV owner previously told Insider that <a href="https://www.businessinsider.com/electric-car-long-distance-ev-road-trip-what-to-know-2023-6">successful EV road trips</a> needed to be properly plotted out.Some <a href="https://www.businessinsider.com/tesla-owners-share-perks-best-features-electric-car-ev-2023-7">Tesla owners say they have a distinct advantage</a> when it comes to navigating longer journeys because of the company's ultrafast Superchargers and Tesla's internal navigation system, which helps owners plot paths with multiple charging sites.An Acterra spokesperson said the organization was working to "dispel the idea that EVs are out of reach for some because of cost, believing that EVs are truly for everyone."Update August 1, 2023: This story has been updated to clarify the California Valley Lodge owned the gas station where the couple charged their Tesla and recommended it as a solution for their charging needs.Do you own an electric car or work at Tesla? Reach out to the reporter from a non-work email at gkay@insider.com

A Tesla owner says she made a 9-day rural road trip through a town without an EV charger by trickle charging from an outlet at an abandoned gas station

<keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Motor on Monday launched the N brand's first all-electric model, the Ioniq 5 N, in the domestic market as it accelerates its transition to a future mobility solutions provider. The Ioniq 5 N, first unveiled at the 2023 Goodwood Festival of Speed in Great Britain in July, comes with an 84 kWh battery pack and can accelerate from zero to 100 kph in 3.4 seconds, the company said in a statement. The new model represents a new segment of driver-focused high-performance EVs since it boasts advanced cornering and racetrack capabilities as an everyday sportscar, reports Yonhap news agency. It is priced at $58,000 after individual consumption taxes and tax benefits given to environment-friendly vehicles. It can travel about 350 kms on a single charge, the statement said. Ioniq 5 N combines the standard Ioniq 5 model's electric global modular platform (E-GMP) with N's motorsport-bred technologies. E-GMP is Hyundai Motor Group's dedicated EV platform. Hyundai's Ioniq 5 and Ioniq 6 are built on the E-GMP platform, with the same platform-based Ioniq 7 set to be released next year. Hyundai's independent Genesis brand's GV60 SUV, and its smaller affiliate Kia Corp.'s EV6 and EV9 SUVs also share the E-GMP platform. The maker of Sonata sedans and <keyword id="141245" type="General" weightage="50" keywordseo="santa-fe" source="Orion">Santa Fe</keyword> SUVs plans to invest 109.4 trillion won by 2032 to secure a leading position in the global future mobility market, while aiming to sell 1 million pure electric models by 2030. Hyundai's first dedicated EV factory, the 300,000-unit-a-year Hyundai Motor Group Metaplant America in Georgia, the U.S., is under construction with a goal to start operations in the second half of 2024. Another EV-dedicated plant is being built in Korea with the aim of starting production in 2025. The N models bring full performance capability to daily driving, while the <keyword id="10035310" type="General" weightage="50" keywordseo="n-line" source="Orion">N Line</keyword> brings performance-inspired elements to base model vehicles. The N Line models sit between Hyundai's high-performance N brand and the general Hyundai brand. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/royal-enfield-launches-2023-bullet-350-with-a-new-engine-starting-at-1-74-lakh/articleshow/103287993.cms">Royal Enfield’s Bullet 350 rides in a new avatar with a legacy essence</a> <a href="https://www.businessinsider.in/tech/news/iphone-15-series-apple-watch-and-airpods-pro-expected-in-upcoming-apple-event/articleshow/103238563.cms">Apple set to launch new iPhone, watch &amp; AirPods Pro on Sept 12 – Here’s what we know so far</a> <a href="https://www.businessinsider.in/tech/mobile/news/honor-to-re-enter-the-indian-market-with-the-honor-90-smartphone-in-september/articleshow/103138615.cms">Honor to re-enter the Indian market with the Honor 90 in September</a>

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