Middle East

Hyundai Motor launches first electric sedan on Tesla

Seoul — Hyundai Motor has launched the first electric sedan, the Ioniq 6. We are confident that this will help Korean automakers gain a greater share of the Tesla-dominated electric vehicle (EV) market.

Ioniq 6 is planned to be introduced by Hyundai Motor Group, including Hyundai Motor, its sister company Kia Corp, and premium brand Genesis by 2030, to secure 12% of the global EV market31. It is one of the electric models that surpasses.

The Hyundai sedan extends the range of EVs beyond current crossovers and SUVs to face Tesla’s best-selling model 3 sedan directly.

According to industry tracker SNEResearch, Hyundai and Kia are the second largest EV shippers in the world, excluding China, from January to May this year, with a total market share of 22% after Tesla. did.

The price of Ioniq 6 ranges from 55 million won ($ 41,949.51) to 65 million won in the Korean market.

“The Ioniq 6 can compete with Tesla in the volume EV sedan sector given its competitive pricing and long driving range,” said Lee Jae-il, an analyst at Eugene Investment & Securities. ..

He added that Tesla was able to take advantage of its pricing in the EV sedan market as Tesla raised prices several times.

Hyundai’s electric sedan has a mileage of about 610 kilometers (380 miles), which is about 30% longer than the Ioniq 5 crossover, Hyundai said.

Kim Young-hwa, modern executive vice president, said:

The battery pack has two options, 53kWh (kWh) and 77.4kWh, and is scheduled to go into production at the Asan plant in South Korea later this year.

He added that the Ioniq 6 will be available in South Korea this year and will be available in the US market in the first quarter of next year.

Hyundai said the Ioniq 6 launched this year will source batteries from SK Innovation’s SK On, and LG Energy Solutions’ batteries will be used from next year.

Hyundai will begin launching after announcing plans to build dedicated EV plants both domestically and in the United States. The Ioniq 5 and Kia EV 6 SUVs are the second best-selling EVs after Tesla and after Ford Motor Company’s Mustang Mach. -E. -agency

https://saudigazette.com.sa/article/622934/BUSINESS/Hyundai-Motor-launches-first-electric-sedan-taking-on-Tesla?ref=rss&format=simple&link=link Hyundai Motor launches first electric sedan on Tesla

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