Hyundai will launch two zero emissions for less than 20,000 euros in 2024

by time news

Hyundai has started the development of two small electric vehicles for the European market, priced below 20,000 euros. These will, predictably, be the successors to the i10 subcompact that the brand launched in 2020.

These two models will join another 10 zero emissions that the manufacturer intends to offer in the Old Continent by 2030. At the moment, nothing is known about them, but one is expected to be an urban vehicle and the other, a slightly more robust version. , similar to the Volkswagen ID 1 that the brand will build in Spain in 2025.

Production will start in mid-2023 and late 2024, respectively. Hyundai has confirmed that the powertrains will be BorgWarner of 135 kW (180 hp), but its performance can be adjusted electronically by the manufacturer, hinting that a sporty N version could be marketed without limitation.

For the Marketing Director of Hyundai Europe, Andreas-Christoph Hofmann, “everyone in the industry knows that the goal is to produce a car for less than 20,000 euros.”

However, these models are not particularly profitable for manufacturers, as their low price means low margins, and they present additional complexity for engineers, having to adapt electric propulsion systems to their size.

The next electric model to be marketed by the brand is the Ioniq 6 electric sedan, which will hit the markets in early 2023. In addition, the Ioniq 7 SUV will also be sold in Europe, but its target audience is America.

The Hyundai Group, which also includes Kia, is one of the manufacturers that has best weathered the semiconductor crisis and has emerged as the third largest manufacturer worldwide in the first half of 2022, with 3.2 million registrations. In Europe alone, its market share reached 4.7% this semester, a growth of 8.2% in an environment that fell by 14%.

Of the almost 3.3 million registrations, 16% were zero emission models. Hofmann stated that they feel “confident for the second half of the year.”

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