Hyundai, Kia, Genesis investing big for electric transition

Meanwhile, Kia debuted its EV6 compact crossover and the second generation of its Niro EV this year. Kia will begin production of a midsize crossover called the EV9 in fall 2023, which will be the first three-row EV aside from Tesla’s pricey Model X. It’s expected that Kia will bring a dedicated electric pickup to market in 2027.

All of Hyundai Motor Group’s dedicated EVs will use its Electric Global Modular Platform. The platform will enable fast charging via an 800-volt architecture as well as vehicle-to-load capability, which allows electronics such as a computer or refrigerator to be powered by the vehicle’s battery.

Hyundai is investing heavily in EV production in the U.S. Previously the automaker pledged $7.4 billion to produce EVs, upgrade factories and develop smart mobility technologies. But in May, Hyundai Motor Group upped its stateside investment to $10 billion. That will go toward production of the all-electric Genesis Electrified GV70 at Hyundai’s plant in Montgomery, Ala., starting in December and construction of an EV factory outside Savannah, Ga., that will build up to six models. The standalone factory investment is $5.5 billion.

The automaker also is planning to build a battery manufacturing factory with an as-yet-unannounced partner.

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