Hyundai Launches Its Ioniq 6 Sedan to Rival Tesla 3
As a follow-up of Hyundai’s Ioniq 5 SUV, the South Korean automaker, Hyundai Motor Co (KRX: 005380) has unveiled its new Ioniq 6 to rub shoulders with the Tesla Model 3. The Ionic 6 is the second model in its Ioniq EV sub-brand. On a fully charged battery based on the European WLTP test cycle, this new sedan would travel 610 kilometers (379 miles). This is far more than the 602 km of the Tesla Model 3 Long Range under the WLTP test cycle.
Since Tesla has long been a model and benchmark for EV range, this is a groundbreaking accomplishment for Hyundai. It is also important to understand that behind the Tesla Model Y small SUV, the Tesla Model 3 is the best-selling electric car in the US. The Hyundai Ioniq 5 is ranked fifth as its battery electric SUV is in high demand.
According to Ed Kim, president and chief analyst for AutoPacific, only a few have matched Tesla despite the intensive competition.
“While many competing EVs have been edging closer to Tesla’s range ratings, relatively few have matched or exceeded them,” he said.
This new all-electric sedan will be built on an Electric Global Modular Platform (E-GMP) just like the ionic 5. The 800-volt electrical architecture would enable faster charging. The Ionic 5 recently won the world car award. According to SangYup Lee, head of Hyundai Global Design Center, the daring EV design of Ionic 5 continues with the dome shape ionic 6 which looks curvier than other cars.
Even though the price has not been announced, it is expected to go on sale early next year. Hyundai seeks to expand its ionic portfolio that focuses on making affordable and entry-level cars into a world-class global Electric Vehicle brand known for its daring designs.
Hyundai has currently pledged $10 billion to be spent in the US by 2025. This is to come out with “technology for electric and autonomous vehicles and mobility application for robotics.” Half the money will be used to establish a new EV plant and battery manufacturing facility in Georgia. Over there, it would build some of the 23 EVs it plans to roll out by 2025. One of them is the Ioniq 7 three-row SUV, meant for drivers with large families.