Hyundai will introduce two new 'affordable' electric cars by 2025

Korean carmaker ready to launch the Inster EV (at less than £22,000) and a compact model in the Ioniq family

Hyundai's new electric models

By: Alberto Carmone

Published by: Brian Potter

Jun 26, 2024 at 7:03am ET

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Hyundai is preparing to introduce two new low-cost electric cars. Despite the slowdown in sales growth of battery-powered models, the Korean manufacturer is determined to continue its strategy and is ready to introduce a small EV and a new model in the Ioniq family.

Speaking to Automotive News Europe is Michael Cole, CEO of Hyundai Europe, who gives an update on the Korean brand's next steps.

The new electric Hyundai

"Our goal is for electric vehicles to account for 14 per cent of our total sales in Europe this year, or even a bit more", Cole told the Automotive News Europe conference.

Part of the Asian manufacturer's confidence stems from the imminent market debut of two new electric vehicles. In fact, the Inster EV and a new Ioniq model, which will join the Ioniq 5 and Ioniq 6, are on the way.

Hyundai Inster, first official images

The former has been anticipated by a few teasers in recent weeks and will be unveiled very soon. It is an A-segment electric car based on the Casper that will be sold for less than €25,000 (approx. £22,000), with an expected range in the WLTP cycle of around 155 miles. Speaking of the Ioniq, we do not know what its number will be, but it is likely to be based on the E-GMP platform and have a range of around 280 miles.

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Between (failed) incentives and competition

With the arrival of these two new electrics by 2025, Cole expects Hyundai's share of electric vehicles to reach 20 per cent next year. It is true that part of the brand's success will come down to the incentives and support policies for electric cars adopted by various countries.

In this regard, Hyundai's head of Europe criticised Germany's recent decision to end incentives for electric vehicles, saying that the message sent was wrong in terms of supporting the technology. Furthermore, Cole stated that Hyundai is not immune to competition from Tesla, but will not make any "knee-jerk reaction" in terms of list price cuts.