New Electric and Hydrogen Concept Cars... Hyundai and Kia Surpass US Market with Electrified New Models

2024 LA Auto Show Largest Exhibition Hall
Increasing Uncertainty in US Market
New Cars with Latest Technology Launched Continuously

Hyundai Motor Company and Kia unveiled new electric vehicle models at the LA Auto Show, gearing up to target the local market. Hyundai showcased the Ioniq 9, revealed for the first time on the 20th (local time), along with the hydrogen electric concept car Inisium, both introduced to the North American market for the first time, while Kia revealed the high-performance electric vehicle EV9 GT.

Entrance view of the LA Convention Center where the 2024 LA Auto Show is held. Provided by Hyundai Motor Group

On the 21st, at the Los Angeles (LA) Convention Center in the United States, during the press day held ahead of the official opening of the 2024 LA Auto Show, Hyundai Motor Group set up the largest exhibition space among participating automakers and captivated the press with new car unveilings. A large banner featuring Hyundai's large electric sports utility vehicle (SUV), the Ioniq 9, was hung on the exterior wall of the venue, and an N Zone showcasing Hyundai's high-performance vehicles was also arranged.

The Ioniq 9 is the third electric vehicle to apply a dedicated platform following the Ioniq 5 and 6, targeting North American consumers primarily. The U.S. traditionally has high demand for SUVs, and the western region centered around LA shows steady demand for electric vehicles. The relatively smaller LA Auto Show was chosen as the venue to present the actual vehicle to the public for the first time. Starting next year, it will be produced at Hyundai Motor Group's Meta Plant America (HMGMA) in Georgia, USA.

Jose Munoz, Hyundai Motor Company's Global Chief Operating Officer (COO), is speaking at the Hyundai Motor Conference at the LA Auto Show on the 21st (local time). Photo by Hyundai Motor Group

Jose Munoz, Hyundai Motor's Global Chief Operating Officer (COO) and Head of North America, said, "The Ioniq 9 is Hyundai's first large electric SUV, showing that family SUVs have evolved to the next level," adding, "You will feel 'well-being' instantly from anywhere in the third row."

The Inisium, unveiled for the first time in the North American market, is a model that previews the new hydrogen electric passenger car set to launch next year. It is regarded as a model that consolidates the technology used to create the first mass-produced hydrogen electric vehicles for both passenger and commercial cars. When the mass production model is released next year, it will also be launched in the U.S. Simon Loosby, Head of Hyundai Design Center, explained, "It is a concept car that presents the future direction of hydrogen electric vehicle design," adding, "It embodies Hyundai's continuous efforts toward hydrogen mobility and sustainability."

Hyundai's hydrogen electric concept car Ioniqium, unveiled for the first time in North America at the 2024 LA Auto Show. Provided by Hyundai Motor Group

Kia's high-performance electric vehicle EV9 GT is a derivative model of the large electric SUV EV9. It is being developed with a target combined output of 508 horsepower from front and rear motors. This is over 120 horsepower more than the EV9 GT Line (384 horsepower), which was mainly redesigned for styling. For ride comfort and handling performance, Kia applied the Preview Electronic Controlled Suspension (ECS) for the first time among its SUVs. The design also differs in parts such as the wheels and calipers, the lamp pattern on the front grille, seats, and steering wheel.

Steven Center, Kia America’s Chief Operating Officer, said, "The EV9 GT includes the attractive elements of a three-row electric SUV while simultaneously enhancing the driving fun factor to captivate driving enthusiasts."

The facelifted model of the EV6, which was named the 2023 North American Car of the Year, also met North American customers for the first time. It is scheduled for release next spring. The facelifted new model of the compact SUV Sportage, which accounts for over 20% of Kia's total vehicle sales in the U.S., also occupied a section of the exhibition hall. Genesis displayed the facelifted GV70 model and the electrified GV70 model. Genesis plans to open its first dedicated design center, 'Genesis Design California,' in LA in the first half of next year.

Kia EV9 GT (left) and the new EV6 unveiled at the 2024 LA Auto Show. Provided by Hyundai Motor Group

Hyundai and Kia are recording their highest sales performance in the U.S. market this year. From the beginning of this year through last month, they sold approximately 1.39 million vehicles in the U.S. If the current trend continues, it is expected to slightly surpass last year's record of 1.65 million units, which was the highest annual sales to date. Hyundai Motor Group's U.S. sales, which were around 890,000 units in 2010, will have roughly doubled in 15 years.

Since Hyundai first entered the U.S. market in 1986, total local sales have reached approximately 28.74 million units. Next year, cumulative local sales are expected to exceed 30 million units. Munoz, Hyundai Motor COO, said at the conference, "In the third quarter of this year, sales in the U.S. increased by 5% compared to the same period last year, achieving the highest third-quarter performance ever," adding, "Thanks to hybrid and electric vehicle sales this year, we expect to achieve the highest annual sales record for the fourth consecutive year."

Tom Kunz, Senior Designer at Kia America Design Center, is presenting at the LA Auto Show Press Day Conference on the 21st (local time). Photo by Hyundai Motor Group

After the conference, Munoz met with the press and commented on the recent increase in market uncertainty in the U.S., saying, "We expect to move toward electrification in the long term, but since customers may choose differently, we plan to respond flexibly with electric vehicles, hybrids, and extended-range electric vehicles (EREVs)."

Regarding discussions about the potential removal of tax credit benefits under the Inflation Reduction Act (IRA), he said, "The new plant in Georgia, which recently started operations, was decided during the Trump administration, so it is not solely due to regulations, incentives, or policies," emphasizing, "The direction the company is pursuing has been well established by Hyundai Motor Group Chairman Chung Euisun."

Jose Munoz, Global Chief Operating Officer of Hyundai Motor Company, presenting at the 2024 LA Auto Show. Photo by Hyundai Motor Group