Hyundai thinks it can become the largest EV provider in Europe. The new sub-brand Ioniq should play an important role in this with three new electric models. In 2025, the group wants to sell 1 million EVs per year worldwide.
Hyundai, along with Ioniq, Genesis and Kia, hopes to control 10 percent of the global EV market by 2025. The goal is to sell 1 million EVs per year by then. Ioniq in particular must play an important role in this, with Europe as the focus. “In a relatively short time, we can become the largest EV provider in Europe, especially with the new EVs under the Ioniq sub-brand,” said Michael Cole, CEO of Hyundai Europe Automotive News. He estimates the Hyundai group will put 60,000 EVs on the road in Europe alone this year. That is without the addition of Ioniq, of which the first model is expected next year.
It was already known that Ioniq would become a separate sub-brand. The brand will come in the coming years with models 5, 6 and 7, all three of which are based on previous Hyundai concept cars. A prototype of the Ioniq 5 has already been spotted at the Nürburgring, which indicates that Hyundai’s plans are by no means empty words. The new models will be on Hyundai’s electric Global Modular Platform (e-GMP). The step to separate Ioniq as an individual brand from Hyundai is similar to what Geely has done with Polestar via Volvo.