Hyundai Motor Co on Thursday launched its first electrical sedan, Ioniq 6, which the South Korean automaker is betting will assist it seize a much bigger share of the electrical car (EV) market dominated by Tesla Inc .
The Ioniq 6 is certainly one of greater than 31 electrical fashions that Hyundai Motor Group – together with Hyundai Motor, its sister firm Kia Corp and premium model Genesis – plans to introduce via 2030 to safe a projected 12% of the worldwide EV market.
Hyundai’s sedan will increase its EV vary past its present crossovers and SUVs to compete head-to-head towards Tesla in a well-liked class.
Excluding China, the world’s greatest auto market, Hyundai and Kia collectively accounted for 13.5% of the EVs shipped globally within the January-May interval this 12 months, in keeping with business tracker SNE Research. That was second solely to Tesla, which had a 22% share in the identical interval.
The Ioniq 6 can have a driving vary of about 610 kilometres (380 miles), round 30% greater than the Ioniq 5 crossover, Hyundai stated.
“We are using the same (battery) cell chemistry but … we maximised the amount of batteries per each pack, enhancing energy density significantly,” stated Kim Yong Wha, an govt vice chairman at Hyundai.The automaker didn’t disclose the worth of the Ioniq 6.
It will are available two battery pack choices – 53-kilowatt per hour (kWh) and 77.4 kWh – and can start manufacturing at its Asan plant in South Korea later this 12 months, Hyundai stated.The market launch schedule will likely be introduced later.
Hyundai usually will get batteries from LG Energy Solution Ltd and SK Innovation’s SK On, and Kia just lately adopted China’s CATL batteries for its automobiles offered in South Korea however the automaker didn’t disclose the supply for Ioniq 6 automobiles.
The launch comes after Hyundai introduced its plans to construct devoted EV crops each at house and the United States, the place the Ioniq 5 and Kia’s EV 6 SUV collectively grew to become the second-best promoting EVs after Tesla automobiles and forward of Ford Motor Co’s Mustang Mach-E.”
Both autos handle two main flaws that prior EV autos have had within the U.S. market: lack of styling and vary,” Ivan Drury, Edmunds senior supervisor of insights, stated of the Ioniq 5 and EV 6.
Source: www.financialexpress.com”