Korean auto giants Hyundai and Kia assume lower-priced EVs will assist reduce the blow from the brand new US auto tariffs. Hyundai is ready to unveil a brand new entry-level electrical automobile quickly, which might be offered alongside the Kia EV2. Will or not it’s the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already supply a few of the most reasonably priced and environment friendly electrical autos available on the market, with fashions just like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and different abroad markets, Hyundai sells the Inster EV (offered because the Casper Electrical in Korea), an electrical metropolis automobile. The Inster EV begins at about $27,000 (€23,900), however Hyundai will quickly supply one other lower-priced EV, much like the upcoming Kia EV2.
The Inster EV is seeing sturdy preliminary demand in Europe and Japan. In accordance with an area report (through Newsis), demand for the Casper Electrical is so excessive that consumers are ready over a yr for supply.
Hyundai is doubling down with plans to introduce an much more reasonably priced EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, stated throughout a latest interview that “The brand new electrical automobile might be unveiled within the subsequent few months.”
The brand new EV is anticipated to be a compact SUV, which is able to seemingly resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and different world areas in 2026.
Hyundai is retaining most particulars below wraps, however the anticipated IONIQ 2 is more likely to sit under the Kona Electrical as a smaller metropolis EV.
Extra reasonably priced electrical vehicles are on the way in which
Though nothing is confirmed, it’s anticipated to be priced at round €30,000 ($35,000), or barely lower than the Kia EV3.
The Kia EV3 begins at €35,990 in Europe and £33,005 within the UK, or about $42,000. Via the primary half of the yr, Kia’s compact electrical SUV is the UK’s hottest EV.
Just like the Hyundai IONIQ fashions and Kia’s different electrical autos, the EV3 is predicated on the E-GMP platform. It’s obtainable with two battery packs: 58.3 kWh or 81.48 kWh, offering a WLTP vary of as much as 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is anticipated to disclose the brand new EV on the IAA Mobility present in Munich in September. In the meantime, Kia is engaged on a smaller electrical automobile to sit down under the EV2 that would begin at below €25,000 ($30,000).
In accordance with the report, Hyundai and Kia are doubling down on lower-priced EVs to steadiness potential losses from the brand new US auto tariffs.
Regardless of opening its new EV manufacturing plant in Georgia to spice up native manufacturing, Hyundai remains to be anticipated to develop gross sales in different areas. An business insider defined, “Contemplating the danger of US tariffs, Hyundai’s transfer to focus on the European market with small electrical autos is a pure technique.”
Though Hyundai is increasing in different markets, it stays a number one EV model within the US. The IONIQ 5 stays a top-selling EV with over 19,000 items offered by way of June.
After delivering the primary IONIQ 9 fashions in Might, Hyundai reported that over 1,000 fashions had been offered by way of the tip of June, its three-row electrical SUV.
Whereas the $7,500 EV tax credit score remains to be right here, Hyundai is providing beneficiant financial savings with leases for the 2025 IONIQ 5 beginning as little as $179 monthly. The three-row IONIQ 9 begins at simply $419 monthly. And Hyundai is even throwing in a free ChargePoint Residence Flex Degree 2 charger in the event you purchase or lease both mannequin.
Sadly, we seemingly gained’t see the entry-level EV2 or IONIQ 2 within the US. Nevertheless, Kia is ready to launch its first electrical sedan, the EV4, in early 2026.
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