Hyundai Motor Group has launched its first electric sedan, the Ioniq 6, as the South Korean auto manufacturer continues to ramp up its efforts to gain a larger share of the electric vehicle market.
Aimed at competing with the Tesla Model 3 Sedan, the Ioniq 6 is one of over 30 electric models that the group plans to introduce by 2030, with a stated goal of securing a 12% share of the global EV market.
The model will be priced between 55 million won ($42,000) and 65 million won ($49,000) for the South Korean market. It will have a driving range of approximately 380 miles, almost 30% more than the Ioniq 5 crossover.
“We are using the same (battery) cell chemistry but we maximized the amount of batteries per each pack, enhancing energy density significantly,” said Kim Yong Wha, executive vice president at Hyundai.
Hyundai’s sedan will expand its EV range beyond its current offering of crossovers and SUVs. Hyundai and Kia, the two leading brands in the group, were already the second-biggest EV shippers globally excluding China and the group will be looking to expand on that strong performance.
The launch follows an announcement from the group that they will be building and developing dedicated EV plants in Korea and the US, where the Ioniq 5 and Kia’s EV 6 SUV together became the next-best selling EVs behind Tesla’s Model 3.