Where the EV market is going through a slowdown, Hyundai is ready to launch its other electric vehicles. This time Hyundai is ready with its two new electric vehicles that will launch in Europe that includes a low-cost EV and new IONIQ model.
As Hyundai has predicted the increasing EV growth in Europe that doesn’t seem going down. The launching of two new electric cars is a move to keep the brand’s momentum, expected by Hyundai Europe CEO Michael Cole.
Hyundai has introduced its gas-powered CASPER into an electric version. The new low-cost INSTER EV is a sub-compact electric car based on its gas-powered CASPER in Korea. The cost of the CASPER is around $15,000 in it’s home market, which means the expected price for the new EV will start around $27,000 (25,000 euros). Hyundai says the INSTER EV will debut with an expected range up to 220 miles (255 km) as per WLTP range.
Another model is a new IONIQ model that will be unveiled later this year. However Hyundai has not specified what the new IONIQ EV would be, but the recently spotted a new larger IONIQ 9 catches the eyes.
Though it is expected that the new IONIQ EV will join the IONIQ 5 and IONIQ 6. The new IONIQ is built on the E-GMP platform. Means it will offer over 300 miles of range, fast charging in just 20 minutes within an affordable price tag.
As some parts of Europe including Germany ended it’s subsidies on electric cars, it raises concern. Result of that the EV sales fell by 31% last month compared to Mar 2023. On this move Hyundai’s Europe chief criticized Germany’s move to end EV incentives, saying it sent the wrong message about its support for the tech.
Cola also said Hyundai is immune to competition like Tesla but will not make any “knee-jerk reaction.” The company will make adjustments if needed based on market conditions.
