Hyundai Charges Ahead To Solidify Its EV Positioning Despite The Slowdown
Portfolio Pulse from Upwallstreet
Hyundai Motor Company is launching two new electric vehicles in Europe, the Inster EV and a new IONIQ model, to boost its market share. Despite rivals like General Motors, Ford, and Tesla scaling back, Hyundai is pushing forward. The Inster EV will debut at the Busan International Mobility event on June 27th. Hyundai's IONIQ 5 set a new sales record in May, and the company is opening its first EV and battery plant in the US later this year. Hyundai and Kia are closing the market share gap with Tesla in the US.
June 21, 2024 | 3:56 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ford is scaling back its EV efforts while Hyundai is increasing its push in the market.
Hyundai's aggressive push in the EV market could negatively impact Ford's market share and sales, especially as Ford scales back its efforts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
General Motors is scaling back its EV efforts while Hyundai is increasing its push in the market.
Hyundai's aggressive push in the EV market could negatively impact GM's market share and sales, especially as GM scales back its efforts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Tesla's market share in the US EV market is decreasing as Hyundai and Kia gain ground.
Tesla's market share in the US EV market has decreased from 52.9% to 40.5% as Hyundai and Kia increase their market share. This could negatively impact Tesla's sales and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70