Hyundai is leading automaker brand that hit the market with it’s luxury and fancy cars. But this time with the launch of IONIQ 2 EV Hyundai is ready to tap the affordable EV market. This IONIQ is a cheaper electric vehicle that will sit below the popular IONIQ 5 SUV.
Hyundai is working hard to its plan to become a top three EV maker by 2030. The Hyundai Motor Group is also aiming to sell 3.6 million EVs by the decade end. Also last month exports hit a new record. On that note the company says its EVs are “playing a major role” in helping them secure leadership in the global electric vehicle market.
Data of the automaker’s EV export’s shows the two times over the past two years, reaching over 218,000 in 2022. Although the brand aims to take it further, a next step with the key new models.
Hyundai is already developing its first three-row electric SUV. As the glimpse of the IONIQ 7 while testing got spotted last month, revealing the spec of the electric SUV that is expected to officially debut next year.
Andreas-Christoph Hofmann, Hyundai Europe’s VP of Marketing recently said that ” the brand is developing a cheaper IONIQ 2 electric car.“ This news broke out after Volkswgen’s unveiling of the ID2all concept. It is expected to go into production in 2025 costing around $27,000 and providing a range of up to 450 km.
The New IONIQ 2 is expected to have at least 250 miles of range. The new EV will be a part of Hyundai’s next-gen IMA platform, which was revealed during its 2023 investor day. Hyundai also says the IMA “is a significant advancement” over its current (E-GMP) platform that will help reduce costs.
To make electric vehicles affordable automakers continue adopting new tech and lower-cost battery chemistries. Also a research by BloombergNEF revealed recently that the cost of Lithium-ion battery pack price hit a record low of $139 per kWh last month, down14%.
Hyundai is already developing affordable EVs. The brand announced the new 2024 Kona Electric will be one of the most affordable EVs in the US, with starting prices under $33,000.
