The South Korean automaker Hyundai debuted its first fully electric sedan IONIQ 6 priced at $42,000 for the South Korean market. The model delivers an estimated range of over 610 km (379 miles) and is the Hyundai’s first vehicle allowing over-the-air (OTA) updates of the media software, maps, autonomous driving, and battery.
“IONIQ 6 is the next ambitious step forward in Hyundai Motor’s strategy to accelerate its transition to electrification and into a position as a global leader in EVs,” said Jaehoon Chang, President and CEO, Hyundai Motor Company. “The IONIQ 6 Electrified Streamliner will provide a unique and distinctive experience for drivers and passengers, optimized in every way to redefine electric mobility.”
The energy consumption of the 53-kWh standard battery with 18-inch tire and RWD motor option is estimated to be under 14 kWh/100 km (according to WLTP) making IONIQ 6 “one of the most energy-efficient vehicles in the market,” Hyundai said.
The production of the model is scheduled to begin in the third quarter of 2022 with the market launch to be announced later.
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As recently reported, the automaker is preparing to increase its investment in electric vehicle production in 2023 with the resumption of hiring, the construction of a new plant in South Korea, and the renovation of an old factory built in 1968, the Korean Economic Daily reported.
“We decided on the local investment to become a leading company in the future automobile sector with EV capacity expansion and to ensure the job security of employees,” said a Hyundai official.
Hyundai Motor plans to start construction of the new EV factory in Ulsan (South Korea) in 2023 with the opening scheduled for 2025, 29 years after the inauguration of the latest Hyundai factory in the country. In addition, Hyundai Motor will also begin the reconstruction of the Ulsan factory built in 1968 and resume hiring in 2023 to develop talent for EV production.
Recently, Tesla‘s CEO Elon Musk commented in a tweet saying the South Korean automaker Hyundai is “doing pretty well” having 9% of the EV market share in the U.S. during the first quarter of 2022. The pie chart shows Tesla’s leadership in the first quarter with an EV market share of 75.8% followed by Hyundai with 9% and the German automaker Volkswagen with 4.6%.
Earlier this year, Hyundai Motor Group announced that will invest more than $10 billion in the United States by 2025 to accelerate innovation and mobility electrification, after the meeting with U.S. President Joe Biden in Seoul.