Hyundai Ioniq To Become All-Electric Brand Starting In 2021

 

The Hyundai Ioniq has, to this point, been about choices for consumers. They have offered electric, hybrid, and plug-in hybrid as options for the sporty sedan, but that’s about to change. Beginning in the 2021 model year, the Ioniq will be fully dedicated to an all-electric powertrain with three options set to be released over the next several years.

In 2021, Hyundai will roll out the Ioniq 5, followed by the Ioniq 6 in 2022, and the Ioniq 7 in 2024. The move toward an all-electric brand represents part of a broader plan by Hyundai to break into the EV market with a bang with the goal of gaining a significant share of the EV market by 2025. Hyundai has revealed that they hope to sell at least one million electric vehicles annually by 2025, with the hope of attaining 10% of the market by the target year.

The Ioniq was first unveiled in 2016 and offered options of hybrid, plug-in hybrid, and all electric varieties from the popular Korean auto maker. 2021’s Ioniq 5 will be a midsize crossover vehicle, the 2022 Ioniq 6 will be a sedan, and the 2024 Ioniq 7 will be an SUV, completing the transition into all-electric vehicles with a variety of options.

Hyundai’s first three offerings will be built around their Electric Global Modular Platform (also known as E-GMP). The E-GMP platform was designed specifically for their all-electric battery powered line of vehicles and marks a departure from their other electric offerings, which had been designed based on traditional gas powered cars.

The move toward a fully electric brand of vehicles marks a turning point for Hyundai, which will aim to compete with the Tesla Model 3, one of the most popular brands of electric cars in the U.S. One thing that is consistent with the new endeavor from Hyundai is that they are stressing flexibility in their designs, something that is much easier to accomplish when not hamstrung by the design limitations of their gas powered counterparts.

Hyundai has long been known as one of the more affordable brands of vehicles on the market and the Ioniq brand hopes to capitalize on that reputation by offering affordability and flexibility in their new line.  Having a lower price point than competing electric cars should help them grab an initial foothold in the market and, if all goes according to plan, allow Hyundai to make quick inroads with consumers that are seeking an affordable alternative to what’s currently available.