Sunday, July 14, 2024
NewsHyundai's cheaper EV model will be called Ioniq 2 or Ioniq 3

Hyundai’s cheaper EV model will be called Ioniq 2 or Ioniq 3

  • The Hyundai group will soon have a new and cheaper platform for EVs.

  • The manufacturer is clearly working on a new affordable EV model.

  • The race is on.


 

Hyundai is one of a few select brands pushing hard for EV transition. The Ioniq 5 crossover is already a popular model in North America, and the Ioniq 6 sedan is following its more utilitarian cousin in this quest to seduce consumers. And that’s not all, as a Hyundai equivalent of the Kia EV9 is on its way to our market too, the latter to be called the Ioniq 7.

But what does Hyundai do for tighter budgets? Well, according to Hyundai Europe’s Vice President of Marketing, Andreas-Christoph Hofmann, the automaker is already working on developing a more affordable model. The latter would be called the Ioniq 2, although some publications have gone so far as to claim that it will be called the Ioniq 3.

Like Volkswagen’s rival model, which is likely be inspired by the ID 2all concept, the starting price is likely to be around €25,000 (about $36,500 Canadian). The German giant’s entry-level model is due to go into production in 2025, but it remains to be seen whether it will cross the Atlantic. The same goes for Hyundai’s future affordable electric vehicle, although the automaker is more advanced in its transition to electric power in North America. It would therefore be no surprise if the Korean group were to aim even lower with a more affordable model than the Ioniq 5 / Ioniq 6 tandem.

In fact, this future model will be based on a new, more advanced platform than the current E-GMP (Electric-Global Modular Platform). In theory, the vehicle should be capable of covering an estimated 250 miles (or 402 km) on a single charge. Admittedly, this is an “ordinary” range when compared with the latest electric models, but for an affordable model, it’s still reasonable, especially if the price is attractive. And we haven’t even mentioned government rebates.

This new, more affordable electric platform should also serve as the basis for 13 new electric models scattered across the group’s three brands (Hyundai, Genesis and Kia) in the next few years.

The race for the affordable electric car promises to be highly entertaining, as all brands will want a piece of the pie.

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