Eng FT "Hyundai Motor and Kia, Rapidly Catching Up Like Samsung and Apple in the Past"

"Rapidly Narrowing the Gap with Tesla"

[Asia Economy Reporter Kiho Sung] The leading economic newspaper of the automotive powerhouse United Kingdom has focused on the strong performance of Hyundai Motor Company and Kia in the electric vehicle market. In particular, it gave high marks by comparing Hyundai Motor Group's pursuit of Tesla, the leader in electric vehicles, to Samsung Electronics surpassing Apple in the smartphone market in the past.

The UK's Financial Times (FT) published an editorial titled "Hyundai Motor Company and Kia fiercely chase Tesla in the global electric vehicle market" on the 23rd (local time).

FT referred to Tesla CEO Elon Musk's praise comment on Twitter in June saying, "Hyundai Motor Company and Kia are doing quite well," and analyzed, "At that time, it did not seem that Hyundai Motor Group would pose a serious threat to Tesla, but as recent sales figures show, the speed of change at Hyundai Motor Company and Kia is much faster than expected."

To support this claim, FT stated that Hyundai Motor Company and Kia ranked second in sales in the U.S. electric vehicle market this year, following Tesla, and that their market share in the European electric vehicle market reached 12%. It also pointed out that excluding China, Hyundai Motor Company and Kia are chasing Tesla, which holds 27% market share, with a 14% share in the global electric vehicle market.

FT especially highlighted Hyundai's dedicated electric vehicle Ioniq 5 as "the best-selling imported electric vehicle in the U.S." and introduced the Ioniq 6 by saying, "It has a competitive single-charge driving range compared to Tesla's Model Y or Model 3, and also offers over-the-air (OTA) remote software updates."

FT compared the strong performance of Hyundai Motor Company and Kia to Samsung Electronics' achievement of surpassing Apple in the smartphone market in the past, evaluating the two companies as similar.

It also forecasted that considering recent exchange rate fluctuations and the sharp rise in battery material prices, Hyundai Motor Group might have a slight advantage over Tesla.

This content was produced with the assistance of AI translation services.