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NowCar Hyundai Ioniq 6 EV

Hyundai Enters the EV Market with Ioniq 6

Written By, Jordan R

Over the spring in 2022, a lot of automakers and automotive groups had a lot of news to share about their outlook for the rest of the decade with automotive plans for 2030. The whole industry is making the shift and going electric, with plug-in hybrid electric vehicles (PHEVs), electric vehicles (EVs), and battery-electric vehicles (BEVs) are soon going to dominate the market. With every major automaker producing an electrified or all-electric lineup to contrast their gasoline-powered models, everyone wants a piece of the pie. Automaker Tesla isn’t the only bull in the pen anymore, and major automotive group Hyundai Motor Co (HMG) is taking its shot with the Ioniq 6.

 Whilst HMG partner Kia Corp continues to expand on its Plan S Strategy, Hyundai is introducing its first-ever all-electric vehicle to also take part in dominating the EV market. Kia Corp has plans to release 14 BEV models by 2027, with two every year between 2023 and 2027. Together with HMG, the total automotive group has a target goal of 31 all-electric models being added to the existing lineups. By 2030, the automotive group aims to secure a total 12-percent of the global EV market, with eco-friendly vehicle sales making up 52-percent of its revenue, with BEVs making up 39-percent of those sales by 2025/2026.

With already a stronghold on the EV market, Hyundai and Kia have plans to expand. Between January and May 2022, the two automakers became the second-biggest EV shippers globally, excluding China,, with a combined 13.5-percent market share and enclosing on Tesla’s 22-percent share. With the Ioniq 6 making up the first of Hyundai’s EV plan, we’re already seeing a nice entry price to get consumers looking. The starting MSRP is a $41,950 (plus destination fee). Not bad for an all-electric sedan, and Hyundai will use this to leverage its pricing in the EV sedan market, wherein Tesla has raised prices several times over the years.

Available with two battery pack options, the Ioniq 6 will offer a 53-kilowatt per hour (kWh) and a 77.4 kWh battery pack to power the electric sedan. It’s unclear if the battery pack affects the total driving range, but the standard all-electric range seems to be set around 380 miles. If that’s true, that’s about 30-percent more than the total driving range of the Ioniq 5 crossover, a gasoline powered vehicle. Hyundai is mixing this ups, and the result is something powerful.

"We are using the same (battery) cell chemistry but ... we maximised the amount of batteries per each pack, enhancing energy density significantly," - Kim Yong Wha, an executive vice president at Hyundai

For those that don’t know the lingo, energy density is how much energy can be stored in a given space. In this instance, the region of space is a battery pack. We can’t help but draw some comparisons to the Kia EV6 on this one, even if the two models would fall into different categories in terms of size. Also able to be equipped with a 58.0-kWh or a 77.4 kWh battery, the EV6 offers two options with a dual-motor all-wheel drive (AWD) setup on the second option. We suspect the Ioniq 6 will feature something similar. After all, all future HMG models will also be based off of the Electric-Global Modular Platform, or E-GMP, developed by the automotive group in 2020.

Ready for the Hyundai Ioniq 6? Shop for a new electric vehicle online with NowCar anytime.

Photo Source/Copyright: Hyundai Motor/Handout via REUTERS