Hyundai is very clear that if it wants to reach more customers it has to reduce the price of electric cars. Although it currently offers reasonably priced popular models like the Hyundai Kona Electric or the Ioniq 5, it wants to offer cheaper products. That means Koreans are looking to break into the A-segment. Although there were already strong rumors about it, sources from Hyundai has just confirmed that they are working on not one, but two electric models that it plans to launch in 2024..
2024 is closer than we think. Although it is a few months, in terms of development we are talking about a very short term. Everything indicates that Hyundai wants to transform the little ones in the house into electric urban cars at a reasonable price. The Hyundai i10 will disappear as we know it until now, and next to it will be added a small urban crossover powered by the same electrical mechanics, one below the current Hyundai Bayon, which does not seem to be meeting sales targets.
The objective is to launch two products that are slightly below the psychological barrier of 20,000 euros. A month ago Hyundai already announced the launch of a cheap electric, but today we have been able to know, thanks to Autocar, that this popular model will come to occupy the space of the i10. However, seeing how Koreans act, always thoughtful and cautious, it is more than likely that this future Ioniq 1 will coexist for a while with the thermal modelat least until the disappearance of the latter.
Hyundai’s strategy makes all the sense in the world. In just a year and a half or two, the market is going to be plagued by state-of-the-art electric utility vehicles. The Volkswagen Group will be the top supplier with already confirmed models such as the Volkswagen ID.1 or the Skoda Elroq. Both will be supported by a specific platform for segment A and B vehicles, the MEB Small architecture. Although it has sounded repeatedly, the SEAT Acandra could be the specific unit for the Spanish brand, although we have not heard from her for a long time.
Returning to Hyundai, the Koreans have confirmed the use of electric propulsion systems from BorgWarner. The iDM146 integrated module will offer a maximum power of 135 kW with a 400 volt electrical scheme. The company has confirmed that mass production will begin in the middle of next year for subsequent integration into the Korean utility in the third quarter of 2024. The drive unit will stand out for its high performance and small size, and can be scaled depending on customer requirements.
The objective of all this is to obtain a reasonably priced utility vehicle. The price of materials, inflation and the increase in production costs are wreaking havoc on customers who expect cheap electrics. Hyundai wants to make sure it can reach more customers, and that is why it is more than likely that the strategy will be replicated in the KIA brand.. In that case, the arrival of a possible KIA EV1 is approaching, which is placed on a par with the KIA Picanto, making it disappear some time later.
