Ferrari Luce EV Sells for Record $40 Million at Charity Auction 
Baidu Shares Sink to One-Year Low as Ad Weakness Overshadows AI Growth 
AstraZeneca Halts Phase III Volrustomig Lung Cancer Trial After Efficacy Setback 
SEC Sues Former Tricolor Executives Over $1.9 Billion Investor Fraud Scheme 
Moody’s Affirms NVIDIA Aa1 Rating as AI Data Center Guarantees Reach $105 Billion 
REPAY Stock Rises After Visa Platform Connect Collaboration 
Alphabet Eyes First Australian Dollar Bond as AI Spending Drives Funding Push 
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars 
Coty Revenue Beats Estimates as Beauty Demand Holds Firm 
Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks 
Shein Targets $26B-$27B Valuation for Hong Kong IPO 
OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead 
Anthropic Eyes $10B-Plus Credit Line Ahead of Potential IPO 
Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push 
OpenAI Tightens AI Safety Monitoring After Security Incidents 
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts 
Add as a preferred source on Google
Hyundai Motor Co. has stopped producing the Kona Electric for the domestic market, as it prepares to phase out the model undergoing recalls over battery fires.
The South Korean automaker would instead shift its focus to Ioniq 5 EVs.
The Kona EV, launched in April 2018, is Hyundai's bestselling EV model. However, Hyundai's domestic sales of Kona EVs dropped from over 10,000 units each in 2018 and 2019 to about 8,000 units last year after a series of battery fires and its mishandling of the recall of over 75,680 units in February.
Domestic sales of the Kona EV plunged further to only 984 units in the first quarter, a 40 percent drop from the previous year earlier, while overseas sales plunged fell 17.9 percent on-year to 7,428 units.
Hyundai will still sell the remaining Kona EVs in stock for the domestic market and overseas.
Hyundai is now pinning its hopes on its first all-electric Ioniq 5 crossover for its EV transition. The Ioniq 5 has drawn over 40,000 preorders, so far.
