Hyundai announced that it is spinning off the Ioniq name into a new sub-brand for electric vehicles. Currently, the Ioniq is the name of Hyundai’s compact five door liftback. It is offered as an all-electric, plug-in hybrid or standard hybrid.
The Korean automaker said it plans to introduce three new EVs under the brand in the next four years. Starting in 2021, it will launch the Ioniq 5 Crossover Utility Vehicle (CUV) that is based on the Hyundai 45 concept shown during the 2019 Frankfurt Motor Show. Next is the Ioniq 6 electric sedan in 2022, that is based on the Prophecy concept. Ioniq’s third vehicle, the Ioniq 7 SUV is set to make its debut in early 2024.
There aren’t a lot of details surrounding these three new models but all of the next-generation Ioniq models will utilise Hyundai’s Electric Global Modular Platform (E-GMP), that is said to offer high-speed charging and “plentiful” driving range. The modular platform can be expanded across different vehicle sizes and shapes.
Apart from that, the new platform will allow Hyundai’s designers to play around with the vehicle’ interior, giving them the freedom to add ‘highly adjustable’ seats, wireless connectivity and unique features such as a glove box with drawers.
Hyundai aims to sell one million EVs by 2025 and hopes to take 10% share of EV sales by then. According to market tracker SNE Research, Hyundai currently ranks sixth in terms of EV sales in January -May from a year earlier. It has sold a total of 26,500 EVs including plug-in hybrids which is down 2% from 27,000 units the year before.