Ioniq 6 (Image courtesy of Hyundai Motor)
SEOUL, June 2 (Korea Bizwire) — As Tesla’s dominance in the global electric vehicle (EV) market continues to falter, U.S.-based automotive outlet Electrek has named Hyundai and Kia as the most viable alternatives to the American EV giant, citing their competitive models and technological edge.
In a recent analysis, Electrek highlighted Hyundai’s Ioniq 6 and Kia’s EV6 as strong replacements for Tesla’s Model 3 and Model Y, respectively. The outlet pointed to Tesla’s plunging sales in the U.S. and Europe, compounded by CEO Elon Musk’s controversial political activism and his abrupt resignation on May 30 from his government efficiency post under President Donald Trump.
Tesla reported a 9% drop in revenue and a 71% plunge in net income in the first quarter of 2025 compared to the same period last year. The company’s stock has fallen more than 40% year-to-date.
While Chinese automakers are gaining ground, Electrek argued that Hyundai and Kia are best positioned to fill the gap left by Tesla, particularly in Western markets. The Ioniq 6, for example, boasts a 338-mile (544 km) range, 350kW ultra-fast charging, and a sleek aerodynamic design, making it a standout successor to the Model 3.
Kia’s EV6 GT also emerged as a favorite alternative to the Model Y, especially among performance enthusiasts. The media outlet noted the EV6 GT’s exceptional acceleration, outperforming combustion-engine supercars such as the Lamborghini, Mercedes-AMG GT, and turbocharged Ferraris in drag races.
For Tesla’s higher-end models like the Model S, Model X, and Cybertruck, Electrek recommended alternatives such as the Lucid Air, Volvo EX90, and Rivian R1T.
Industry analysts say the opening of Tesla’s once-exclusive Supercharger network to rival automakers—including Ford, Hyundai, and Kia—further erodes its competitive moat, leveling the playing field in the EV infrastructure race.
“With Tesla’s brand influence diminishing and its monopoly weakening, models from Hyundai and Kia are well positioned to reshape the global EV market,” one industry insider said.
Kevin Lee (kevinlee@koreabizwire.com)
