Hyundai launches the IONIQ 5 electric vehicle
Hyundai launches the IONIQ 5 electric vehicle

The South Korean Hyundai Motor Company today unveiled its new electric vehicle, IONIQ 5, which is the first in a series of planned electric cars, and hopes to become the third most popular electric vehicle maker in the world by 2025.

The company said: The model is based on a new platform for electric cars that uses only its own battery technology and requires fewer parts and components compared to modern electric vehicles today, so more can be done at lower cost.

The release of the IONIQ 5 is the cornerstone of Hyundai's long-term goal of generating 10% of global sales of electric vehicles by 2025.

This figure equates to a combined 7.2% of the combined market share of Hyundai and Kia from January to September 2020.

Hyundai Motor Corporation and its sister company Kia aim to sell 1 million electric cars by 2025.

"We expect global demand for electric vehicles to grow by more than 30% this year compared to last year," said Zhang Xixon, president of Hyundai Motor Corporation, at a press conference.

The IONIQ 5 has a maximum range of about 480 kilometers (298 miles), nearly 20% more than the Kona Electric Vehicle, which had previously been the longest modern electric range.

Hyundai Motor Company announced in a statement that it will introduce two battery options - 58 kW or 72.6 kW - that will be deployed in some regions starting in the first half of 2021.

The South Korean automaker has not disclosed the price of the IONIQ 5, but Michael Cole, director of Hyundai Motor Europe, said: Before the government introduced the incentives, the starting price in Europe was around 42,000 euros ($ 51,100).

Hyundai Motor's goal is to sell 100,000 cars worldwide over the next year, of which the European market 30-40%, the North American market 30% and the Korean market 20%.

Hyundai may add new electric vehicles, increasing its influence in the global electric vehicle market, given the company's strong performance in Kona's electric vehicles.

Earlier this month, the company revealed the interior of the car, which indicates the spaciousness and variety of the cabin.

Hyundai has also developed a system that allows the center console and front seats to move together to create more space.

The driver and passengers in the IONIQ 5 can get in and out of the vehicle from either side of the vehicle in a very tight spot, depending on how the center console slides back and forth.


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