Despite slowing U.S. electric vehicle sales, Hyundai on Tuesday rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory.
The South Korean automaker unveiled a test version of its latest EV at a dealership in Savannah, Georgia, a few miles from a sprawling new 7.6 billion manufacturing complex . The company says the plant will begin producing new Ioniq 5s before the end of the year, though it hasn't said precisely when.
During the first half of 2024, the Ioniq 5 was America's second-best selling electric vehicle not made by industry leader Tesla. Tesla's Model Y was first with more than 198,000 in sales, followed by the Model 3 with nearly 74,000, according to estimates from Motorintelligence.com. Third was Ford's Mustang Mach E SUV at just over 22,000, and the Ioniq 5 at nearly 19,000.
Electric vehicle sales in the U.S. are still growing but have slowed as more practical consumers worry about range and the ability to recharge while traveling. Tesla Inc. has cut prices and offered low-interest financing, forcing others to follow.
U.S. electric vehicle sales overall rose about 7 during the first half of the year to 597,973, Motorintelligence.com reported. EVs accounted for 7.6 of the U.S. new vehicle market, about the same as it was for all of last year. Lease deals, which include federal tax credits, helped to boost sales.
