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New Developments on the Affordable Hyundai Electric Car

New Developments on the Affordable Hyundai Electric Car
New Developments on the Affordable Hyundai Electric Car
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Hyundai ‘s smallest model in Europe, the i10 hatchback , will be replaced by an electric hatchback and mini crossover. Hyundai is working on two small electric cars that will replace the current i10 city hatchback in 2024 . The Korean automaker is working on both a direct replacement for the i10 in terms of body styling and a more SUV-inspired crossover.

The company could develop an entirely new custom EV platform for lower-cost cars that need to compete with other manufacturers with similar models in Europe. The intention to launch a small electric car was confirmed by Andreas-Christoph Hofmann , Hyundai’s head of marketing in Europe. Hofmann stated that the company’s target price for this car is €20,000, which is currently equivalent to around $20,600. According to Automotive News Europe, Hofmann said:

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“Everyone in the industry knows that the target for this type of car is €20,000.”

New Developments on the Affordable Hyundai Electric Car

Hyundai Looking for Ways to Increase Its Market Share

The new mini EVs will likely not reach North America, so they will likely only be sold in Europe and a few other markets . Hofmann also told Automotive News Europe that Hyundai will launch 11 new electric cars by 2030 in Europe alone, adding that it is difficult for the automaker to profit from small, affordable cars and the prospect of creating very small EVs poses technical challenges. he added.

The automaker wants to maintain its position as an EV segment leader in Europe. About 20% of all cars Hyundai sold in Europe in the first half of 2022 were electric, up from 14.1% in 2021 . Hyundai plans to sell 1.87 million EVs per year and have a 7% global market share by 2030 .

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