A new entry-level Hyundai EV may soon enter the rising electric car market. This means that consumers will have another cheaper zero-emission vehicle option.
Currently, electric cars are quite expensive for new owners. This is because of the actual prices of EVs offered by Tesla, Ford, and other giant automakers.
However, they can save more money since they no longer have to deal with the worsening fuel price hikes across the globe.
Of course, there are still some drivers who prefer to have cheaper EVs right from the start. Now, it seems like Hyundai will give them what they want.
New Entry-Level Hyundai EV To Arrive!
According to Electrek's latest report, Hyundai confirmed that it would launch a new entry-level EV that costs less than $20,000.
Also Read : Hyundai's Ioniq 5 N, Its First High-Performance EV, Releases in 2023! Here's What to Expect
The Korean multinational automotive firm's Marketing Chief Andreas-Christoph Hofmann announced this new EV development at the Automotive News Europe Congress in Prague.
"Everybody in the industry knows the target of this kind of vehicle is 20,000 euros," said the Hyundai official.
Of course, this will excite many drivers who want to own EVs without spending too much money. But, Hofmann said that the new vehicle would be exclusive in the Europe market.
As of writing, Hyundai hasn't confirmed the exact specs of the new entry-level EV. But, the automaker said that it would be designed to replace the Hyundai i10.
This means that it also might be a four-door hatchback. If you want to see further details about the new entry-level Hyundai EV, you can visit this link.
EV Pricing This 2022
If you are an EV owner who is familiar with the rising electric car market, then you already know that there are no zero-emission vehicle that is less than $20,000.
Most of the EVs sold in the auto market have an average price of around $45,000, as reported by NBC news. If you compare this price with new gas-based cars, they are between 10% to 15% more expensive.
Although this is the case, many people tend to buy these expensive electric cars to help reduce carbon emissions and save money from ongoing fuel price hikes.
With Hyundai's new entry-level EV, the situation of electric cars being expensive will soon change.
Meanwhile, Hyundai's first EV-only facility is expected to receive a billion-dollar investment from the Korean automaker.
On the other hand, the new 2024 Hyundai Ioniq 6 EV's features were unveiled.
For more news updates about Hyundai and its upcoming cheap EV, always keep your tabs open here at TechTimes.
Related Article : Hyundai Keeps the Car Culture Alive With Its 'Rolling Labs,' First EV to Come Out in 2023
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Written by: Griffin Davis
