Tesla has a competitor in Hyundai now

Posted by https://carbike360.com/ On 09-Jul-2021 07:20 AM

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With Hyundai planning 10 EVs by the end of 2022, Tesla seems to have a competitor.

● Hyundai is planning to launch one hybrid car and two EVs in the US market this year. ● With Hyundai launching this EV offensive, Tesla should be ready for some stiff competition.

While Hyundai concentrates on the Chinese, European, Indian, and local South Korean markets, it plans to strengthen its thrust in the US market. The South Korean car manufacturer plans to roll out 10 EVs for the US market by 2022 end. Hyundai has already confirmed its investment of $7.5 billion in the US market exclusively to manufacture EVs. The manufacturing plant is set to roll out next year and prove a watershed moment for South Korea. The plans are to launch seven electrified SUVs and three electric cars in the US.

Three upcoming EVs comprise the new 2022 Kona Electric, Ioniq 5 electric SUV, and the Santa Fe Plug-In Hybrid. The Ioniq 5 EV could hit the roads later in 2021, but Hyundai plans to launch the Santa Fe and Kona very soon in the coming months. As of date, Tesla is the market leader in EVs globally. However, with Hyundai announcing its grand plans, Tesla could expect stiff competition. Therefore, the US market is the perfect place for Hyundai to expand its EV network. Some of the Hyundai EVs running in the US currently include Kona, Nexo HFCV, and the Ioniq. Besides, there are several hybrids as well as plug-in hybrid models from Hyundai on the US roads.