It’s targeting a starting price of €20,000.
Hyundai won’t end sales of cars with combustion engines in Europe until 2035, which is quite late considering most rivals will abandon the good ol’ ICE at the end of this decade or even sooner. Meanwhile, it’s pressing ahead with its EV onslaught by launching the Tesla Model 3-rivaling Ioniq 6 to follow up on last year’s Ioniq 5 crossover. Come 2024, the large three-row Ioniq 7 SUV will follow suit.
For something smaller and substantially cheaper, we’ll just have to patiently wait. Speaking with Automotive News Europe, Hyundai Motor Europe’s marketing chief, Andreas-Christoph Hofmann, said a more attainable EV is in the works to meet the increasingly stricter emissions regulations in the European Union. It’s going to cost somewhere in the region of €20,000, which is what the Volkswagen Group is targeting for its three entry-level EVs coming out in 2025 with the VW, Skoda, and Cupra badges.
Bigger EVs Take Priority:
Hofmann admitted that developing a small car – especially with an electric drivetrain – is a tricky business due to packaging constraints. It’s also hard to make a profit with small EVs, hence why Hyundai decided to prioritize the launch of three larger Ioniq models. The biggest of them all – the Ioniq 7 – is being primarily developed for the United States but will be sold in Europe as well.
Hyundai’s marketing boss in Europe said there’s more to come on the EV front as the company aims to launch no fewer than 11 zero-emissions models before the end of the decade. Through the first half of this year, EVs represented 16 percent of the firm’s total sales in Europe where Hyundai’s market share blossomed by one percent to 4.7 percent.
While EVs are mostly associated with battery-powered vehicles, Hyundai is one of the few brands that believe hydrogen still has a future. That said, without major investments in the infrastructure, fuel cell cars like the N Vision 74 Concept remain a pipe dream for the time being.
