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What is your current expectation for the EV 4 given the resent EV 5 China introduction?
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It seems like the transition to US-compliant batteries is still a work in progress, with some hurdles along the way. The recent incident with the Electrified GV70 and its battery origin exclusion from incentives is an example of the work that needs to be done by companies like Hyundai to launch affordable next-gen EVs in the US. Although LG and SK are close to mass-producing LFP batteries, sourcing non-Chinese materials and cells and the price of NMC batteries continuing to fall may hinder their availability in the Western world.
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Hi, as far as we know, the EV5 will be a China-only model, which will not be available globally. The Hyundai Kia group does this quite often and develops Chinese market-only products to meet their taste and regulations. In this case, this measure is also needed to meet the battery regulation for the international markets where Chinese batteries are precluded to receive EV purchase benefits. The EV5 will be a slightly bigger car too with the size equivalent to Sportage, versus the EV4 being similar to Seltos in size. We will have more in an upcoming article. Thank you.
Yes, that's likely what will happen as it will be at least another 2-3 years before fully US-compliant batteries can be sourced in the US. As we have seen in the debacle involving the latest Electrified GV70 incident where the US-made SUV was excluded to receive the incentives due to its battery origin, Hyundai has a lot of work to do before it can launch affordable next-gen EVs in the US. As for the LFP batteries, although LG and SK are very close to mass-producing them, it's doubtful that they will be made available in the Western world. First, due to the complication in sourcing the non-Chinese materials and cells, and second because the price of the NMC batteries will continue to fall to the level of the LFP batteries, due to overproduction and advancement in the technology.
Hyundai/Kia can use leasing to allow their customers to benefit from $7500 subsidy now before the IRA can be satisfied. Leasing subsidies don't require US sourced batteries and finale vehicle assembly.
I saw an Ioniq5 $7500 leasing promotion on Hyundai's web site last week but nothing now on Hyundai nor Kia.
Yes, lease with no purchase option, which won't be too popular for the general consumers. However, they don't even have enough to sell even at the full price + dealer premium anyway... The waiting on anything EV is minimum 6 months it seems for Hyundai / Kia.