Hyundai Motor Company has started selling its star electric vehicle called ‘IONIQ Electric’ in American markets. This is the first time when a South Korean vehicle with a platform of eco-friendly vehicle is released in North American markets. Although its mileage is lower than Tesla’s ‘Model S or X’ and GM’s ‘Bolt’ as its battery capacity is lower than theirs, its competitive edge in price and energy efficiency are excellent. It will be interesting to see if IONIQ Electric can be influential in North American markets.
According to industries on the 23rd, Hyundai Motor America started selling ‘IONIQ Electric’ in American markets on the 20th (U.S. time). Considering early supply amount, Hyundai Motor Company started selling IONIQ Electric only in certain regions such as Los Angeles, Orange County, and Riverside Country of California and is going to start expanding regions to San Diego and San Francisco.
Base selling price of IONIQ Electric is $29,500 and one can purchase it for about $22,000 after receiving subsidy from California Government. One can purchase ‘Limited Ultimate’ IONIQ Electric, which has high specifications, for about later-end of $20,000 after applying subsidy. Compared to price of GM Chevrolet’s Volt ($30,000) which is applied with same subsidy, it is about $800 to $900 cheaper. Hyundai Motor America has put out a special lease program for IONIC Electric. Without any separate down payment, one can lease IONIQ Electric for three years by paying $275 to $365 according trim of IONIQ Electric. One can ride in IONIQ Electric by paying $9,900 without any additional costs.
“Because California has a quarter system that needs to sell certain percentage of eco-friendly vehicles such as electric vehicles and well-established charging infrastructures and subsidy, it is advantageous to do electric vehicle business.” said a representative for Hyundai Motor Company. “Because iONIQ is already recognized as world’s best standard in competitive edge in price and driving performance, we are planning to expand sales region from California to entire U.S.
IONIQ Electric, which has a 28kWh battery, can drive up to 124 miles with one charge. Chevrolet’s Volt, which has a 60kWh battery, can drive up to 238 miles. Considering driving efficiency, IONIQ Electric and Bolt drive up to 7.1km and 6.38km respectively with 1kWh of electricity.
In North American markets for electric vehicles in last first quarter, Tesla Model S was the number one in markets shares (6,100). Chevrolet’s Volt (5,563) and Toyota’s Prius Prime (4,346) were second and third place respectively. 4,300, 3,287, and 3,092 cars were sold for Tesla Model X, Nissan Leaf, and GM Volt respectively.
Staff Reporter Park, Taejoon | gaius@etnews.com