Hyundai Is Becoming Tesla's Biggest Threat
Audi, Tesla, GM, Ford, Stellantis, and probably everyone else are having production issues, while Hyundai could be a sleeping EV giant. All that and more in The Morning Shift for May 16, 2022.
Hyundai has been helped by the fact that Nissan has mostly let the Leaf languish, and Toyota until very recently seemed not to give a damn about EVs, and also that Tesla seems committed to its strategy of ignoring model years, making Tesla’s current car lineup a bit long in the tooth. (Tesla’s last new car, the Model Y, started regular production in early 2020.)
Meanwhile, Genesis, Hyundai’s luxury arm that is swiftly going electric, will have three new EVs by the end of next year, and there will also be the Kia EV9, a a big SUV, along with the Hyundai Ioniq 6. Don’t look now, but there’s a real volume player in the EV game and it may not be Tesla.