Hyundai Ioniq 2 in the works; New entry-level EV

The most affordable EV in Hyundai's current lineup though is the new Kona EV

According to a media report, Hyundai is working on a new electric vehicle to slot below the brand's Ioniq 5 & Ioniq 6 lineup. The new model is part of the brand's push towards electrification, stating that EVs have significantly boosted Hyundai in conquering global markets.

Andreas-Christoph Hofmann, VP of Marketing, Hyundai Europe, recently hinted that the carmaker could be working on the "Ioniq 2". The upcoming entry-level EV is expected to have a reasonable range estimate and could be underpinned by a new platform which helps cut manufacturing costs. Hofmann stated, "Everybody in the industry knows the target of this kind of vehicle is 20,000 euros."

Price remains a hurdle for most buyers as EVs are still far more expensive than their ICE counterparts. While Hyundai's Ioniq EVs aren't the costliest, they are still more expensive than competitors from Tesla and Ford, mainly because they aren't eligible for federal tax credits. The most affordable EV in Hyundai's current lineup though is the new Kona EV, priced at $33,000.

Source: Autoblog