Smart Cars
Hyundai Begins Production of Electric Vehicles at Alabama Factory
Hyundai has begun producing electric vehicles at its Alabama factory in response to the US government’s new EV subsidy plan. The scheme limits a $7,500 purchase rebate to EVs made in North America, making Hyundai, which had no US-made EVs, ineligible. However, the automaker has now started assembling the electric version of its Genesis GV70…
Hyundai Motor Group Sells Over 100,000 Electric Vehicles in the US Market
Hyundai Motor Group, which includes Hyundai, Kia, and Genesis brands, has sold over 100,000 electric vehicles in the US market after 8 years, according to industry data. As of the end of January this year, the three brands have sold a total of 104,326 electric vehicles in the US. Kia has been the best-selling brand,…
Xiaomi to Launch First Car in 2024
According to multiple media reports, during a Xiaomi Group investor event, Xiaomi’s founder Lei Jun disclosed the latest progress of the company’s automotive business. Lei Jun said that he spends half of his time on the automotive business and invested over 3 billion RMB in new businesses such as automobiles in 2022. The company’s automotive…
Ford Reports Q4 Revenue Above Expectations, Up 17% YoY
Ford announced its financial results for the fourth quarter of 2022 on Thursday, revealing revenue of $44 billion, a 17% increase from the previous year. This figure was higher than the expected $39.8 billion by the market. Despite this positive news, the company’s net profit was $1.3 billion in the fourth quarter, lower than the…
CATL Launches First European Factory in Germany
Contemporary Amperex Technology Limited (CATL) is a Chinese battery manufacturer that has launched its first factory in Europe in Arnstadt, Germany. This marks the company’s first factory outside of China. The factory is expected to have an annual production capacity of 30 million cells, enough to assemble 185,000 to 350,000 electric vehicles. The project has…
Electric Vehicle Sales in the US to Surpass 800,000 Units in 2022
According to recent data from Kelley Blue Book, electric vehicle (EV) sales in the United States are expected to surpass 800,000 units in 2022, marking a 65% increase from the previous year. Despite a decline in overall new car sales for the first time since 2011, EV sales continue to experience strong growth. This trend…
Tesla Dominates Electric Vehicle Market in Germany with 14.9% Market Share in 2022
In 2022, Tesla defeated its long-time competitor Volkswagen to become the largest electric vehicle brand in Germany. According to data from the German Federal Motor Transport Authority (KBA), Tesla sold 69,962 electric vehicles in Germany, while Volkswagen sold 63,206 electric vehicles. Since entering the European market, the Model 3 and Model Y have seen significant…
Tesla expands Texas factory with $59 million mold workshop
Tesla, the electric vehicle giant, has submitted a new application to build a mold workshop at its Texas factory, spending $59 million. This comes just one week after the company submitted an application to expand the factory, with plans to spend $717 million on four projects covering 1.4 million square feet. According to the application,…
New Model 3 Prices in Some US Cities Beat Used Cars
Tesla has significantly lowered the prices of its Model 3 and Model Y vehicles in the US market, following a similar move in the Chinese market. According to recent reports, the price cuts have led to the selling price of the Model 3 in some cities or states in the US to be lower than…