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(LEAD) Hyundai unveils 2nd dedicated EV model IONIQ 6

Industry 14:01 July 14, 2022

(ATTN: UPDATES with details throughout; CHANGES headline, lead, photos)

BUSAN, July 14 (Yonhap) -- South Korea's Hyundai Motor Co. on Thursday unveiled its second dedicated EV model IONIQ 6 at the Busan International Motor Show ahead of its local launch in September.

The IONIQ 6 is the second model embedded with Hyundai Motor Group's EV-only electric-global modular platform (E-GMP) following the IONIQ 5, which launched in April last year.

The product is part of Hyundai Motor's broader plan to double its EV lineup to 13 by 2030 from the current six models -- three from Hyundai and three from its independent Genesis brand.

The three Hyundai models are the KONA EV, IONIQ 5 and IONIQ 6, while the three Genesis models are the GV60 SUV, electrified GV70 SUV and electrified G80 sedan.

The company said it is developing a high-performance all-electric car to beef up the EV lineup, as it has introduced some Hyundai models under the high-performance N brand.

This photo taken July 14, 2022, shows reporters taking a look at Hyundai Motor's IONIQ 6 electric sedan during the press day of the Busan Motor Show in Busan, 453 kilometers south of Seoul. (Yonhap)
This photo taken July 14, 2022, shows Hyundai's all-electric IONIQ 7 flagship SUV concept at the Busan Motor Show in Busan, 453 kilometers south of Seoul. (Yonhap)

"We are planning to raise the ratio of EVs in our overall domestic sales to 45 percent by 2030 from 6 percent in 2021 based on the expanded EV lineup," Hyundai President and Chief Executive Chang Jae-hoon said in a press conference.

Globally, it aims to raise its EV sales to over 1.8 million units in 2030 from 140,000 units in 2021, the executive said. Hyundai targets to sell a total 4.32 million units this year.

In 2023, Hyundai is targeting to sell more than 50,000 EVs in major markets, such as Europe and the United States.

Hyundai said it will begin receiving preorders for the IONIQ 6 on July 28 and aims to sell 12,000 units of the model in the domestic market by the end of this year.

The IONIQ 6 will be produced in Hyundai's domestic plant in the third quarter for export to some European markets late this year and to the U.S. in the first half of next year.

This week, Hyundai announced it will build a dedicated EV plant in its main Ulsan plant with a goal of starting production in 2025. Chang said the company will invest 2 trillion won (US$1.5 billion) in the plant.

The IONIQ 6, which Hyundai describes as an electrified streamliner, is aerodynamically sculpted and adopts some sustainable materials to reflect EV customers' values, Hyundai said.

"The distinctive streamlined design is the result of close cooperation between engineers and designers, with focus on detail and customer-centric values. We have created the IONIQ 6 as a mindful cocoon that offers a personalized place for all," Lee Sang-yup, executive vice president and head of Hyundai Design Center, said.

IONIQ 6's cocoon-shaped interior serves as both a comfortable hideaway and a personal space, with some practical features and sustainable materials, the statement said.

The electric sedan is available in two versions. One is a standard model with a 53 kWh battery pack, and the other is a long-range model with a 77.4 kWh battery. The latter can travel up to 524 kilometers on a single charge.

The company plans to install SK On Co.'s car battery in the IONIQ 6 this year due to supply issues but will use LG Energy Solution's battery from next year, the executive said.

Hyundai said it has no plan to bring batteries from Chinese battery maker CATL at the moment.

The model sells at the starting price of 55 million won, with the prices rising up to 65 million won depending on features.

The IONIQ 6 is reportedly aimed squarely at U.S. electric car maker Tesla Motors Inc.'s Model 3 in global markets.

Hyundai plans to introduce the platform-based IONIQ 7 SUV model in 2024. For its all-electric models, Hyundai uses alphanumeric names, like its bigger rivals, such as BMW, whose models are named Series No. 1-8.

On the same day, Kia unveiled the EV9 flagship SUV concept ahead of its domestic launch next year. Kia's EV6 and EV9 models share the E-GMP platform.

The company plans to launch the EV9 in April next year and install SK On Co.'s battery in it, Kia Vice President Kwon Hyuk-ho told reporters.

This photo taken July 14, 2022, shows Kia's EV9 all-electric concept at the Busan Motor Show in the southern port city of Busan. (Yonhap)
This photo taken July 14, 2022, shows the Genesis X Speedium Coupe concept displayed at the Busan Motor Show in the southern port city of Busan. (Yonhap)

kyongae.choi@yna.co.kr
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