Hyundai and Kia are closing the gap with Tesla as US EV market share hits double-digits

Hyundai and Kia's Rise in the US EV Market

Hyundai and Kia are gaining ground on Tesla in the US electric vehicle market,

accounting for 11.2% of the EVs sold in the US through May.

With over 300 miles range, fast charging in under 20 minutes, and affordable price tags,

Hyundai and Kia are making their presence known in the US with some of the most fuel-efficient electric cars.

Hyundai’s IONIQ 5 set a new monthly sales record in May, with 4,449 units sold,

and through the first five months of the year, Hyundai has sold nearly 15,000 IONIQ 5 models.

While Tesla led by 52.9% over Hyundai last year,

the gap has narrowed to 40.5% through May 2024,

showing that Hyundai and Kia are closing in on Tesla.

Hyundai and Kia's rise in the US EV market is a testament to their competitive offerings and growing market share.