The South Korean automaker unveiled a test version of its latest EV at a dealership in Savannah, Georgia, a few miles from a sprawling new $7.6 billion manufacturing complex. The company says the plant will begin producing new Ioniq 5s before the end of the year, though it hasn’t said precisely when.
During the first half of 2024, the Ioniq 5 was America’s second-best selling electric vehicle not made by industry leader Tesla. Tesla’s Model Y was first with more than 198,000 in sales, followed by the Model 3 with nearly 74,000, according to estimates from Motorintelligence. com. Third was Ford’s Mustang Mach E SUV at just over 22,000, and the Ioniq 5 at nearly 19,000.
Electric vehicle sales in the U.S. are still growing but have slowed as more practical consumers worry about range and the ability to recharge while traveling. Tesla Inc. has cut prices and offered low-interest financing, forcing others to follow.
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