Tesla's newest rival rolls out compact all-electric SUV

Tesla's Cybertruck pickup has generated so much anticipation over the past four years with possibly one of the largest reservation lists ever, though the actual number has not been revealed by the company. The vehicle has been spotted often in California and Texas, as well as in some other locations, and the latest images of the vehicle seem to be available daily.

But the specific details, such as price and range, are still curiously a mystery, since the vehicle is expected to be delivered to consumers in just a few weeks. CEO Elon Musk said that the Cybertruck would be delivered at the end of the third quarter, likely in September. The end of the quarter is only about five weeks away.

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Most automakers have those details up on their website sites many weeks before their vehicles are delivered. Once the vehicles are marketed for sale, those details are on the site.

Genesis revealed details weeks before beginning sales 

Hyundai's subsidiary Genesis began making its GV70 all-electric SUV at its plant in Montgomery, Ala., and released specific details about the EV in February 2023 before beginning sales in March 2023. The GV 70 was the luxury brand's first model constructed outside South Korea. It is priced at $66,450 with a 236 mile range.

Hyundai also manufactures the Ioniq 5 and the Ioniq 6, which is stiff competition for Tesla and other EV sedan makers, as its manufacturer's suggested retail price is $41,600, according to its website. Hyundai sold 175,000 all-electric vehicles in 2022, a 56% increase year-over-year.

Kia manufactures the Niro EV crossover with a 253-mile range on a charge and a $39,550 manufacturer's suggested retail price. It also makes the EV6 crossover with a 310-mile range and $42,600 MSRP, and just launched its EV9 three-row electric SUV that is expected to be sold in the U.S. later this year. Worldwide, Kia sold over 132,000 EVs in 2022.

Kia reveals a new electric SUV

Hyundai  (HYMTF) - Get Free Report subsidiary Kia is challenging Tesla, BYD  (BYDDY) - Get Free Report and the rest of the EV market for the first time in China, the company said in a statement Aug. 25, as it unveiled its Kia Concept EV5 sports utility vehicle at Kia Chinese EV Day at AutoChengdu in China. The South Korean automaker said that it plans to launch the EV5 first in the Chinese market later this year before expanding the product globally.

“It is my great privilege to proudly announce that Kia is entering the EV market in China," said Ho Sung Song, president and CEO of Kia Corp. "The Kia Concept EV5 marks yet another definitive step on our mission to become a leader in sustainable mobility solutions to provide a better future for all. Kia will enrich our customers’ lifestyles and enable them to pursue personal adventures by setting fresh standards for dynamic and efficient electric driving.”

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The EV5 takes a bold, futuristic form inspired by Kia's "Opposites United" design philosophy, Kia says. At the front, a new form of Digital Tiger Face projects cleanness and dignity, strength and robustness in equal measure while paying subtle homage to the famous Kia Tiger Nose grille.

The new design is integrated with Kia’s Star Map signature lighting technology, which introduces the concept of a constellation connecting stars to a clean face, the statement said. The vehicle's digital lighting extends down the side of the Concept EV5. The vehicle has 21-inch wheels and an aerodynamic-enhancing roof spoiler complete the picture.

Kia, similar to Tesla, has not revealed more specific details about the EV, such as range and price, but the vehicle is expected to be powered by an 82kWh battery with a range up to about 373 miles, Korean Car Blog reported. The EV5 to be sold in South Korea will be priced in the $38,000 to $43,800 range, the blog said.