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Hyundai to spin off IONIQ as an EV-only brand, and launch three new EVs by 2024

Hyundai has launched a new brand called IONIQ, which will be dedicated to battery-electric vehicles. The company plans to introduce three new IONIQ EVs over the next four years.

Hyundai Motor Group (which includes the Kia and Genesis brands) aims to sell one million BEVs by 2025, representing a 10 percent share of the global EV market.

Hyundai’s existing IONIQ hatchback was introduced in 2016, and is available in hybrid, PHEV and EV versions.

Hyundai plans to launch a range of numerically named EVs under the new brand—the even numbers will be sedans, and the odd numbers SUVs. The first model under the IONIQ brand will be the IONIQ 5, a midsize CUV that will launch in early 2021. The IONIQ 6 sedan, based on the Prophecy concept that was unveiled in March, will follow in 2022. Next up will be the IONIQ 7, a large SUV, which is to drop in early 2024.

All the IONIQ brand models will be built on the company’s Electric Global Modular Platform (E-GMP). Hyundai says the new vehicles will feature “fast charging capability, plentiful driving range, wireless connectivity and simple, intuitive and ergonomically designed user interfaces.”

“The IONIQ brand will change the paradigm of EV customer experience,” said Hyundai Executive VP Wonhong Cho. “With a new emphasis on connected living, we will offer electrified experiences integral to an eco-friendly lifestyle.”

Source: Hyundai


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