Hyundai announces the creation of a new brand: Ioniq
- The Hyundai division of the Korean group Hyundai-Kia has announced the creation of a new brand dedicated to its 100% electric vehicles (BEV): Ioniq.
- Since 2016, Ioniq has been the name of a Hyundai model available in hybrid (HEV), plug-in hybrid (PHEV) and 100% electric (BEV) versions. In fact, it is the first model available worldwide in these three versions. It is rare for a carmaker to create a new brand for its electric cars, but we have already encountered this scenario in China, where some carmakers have done so, even if it means moving then to a range with thermal and electric motors.
In Europe, German carmakers, for example, have not created a dedicated brand but simply formalized a lineup, EQ at Mercedes, i at BMW, E-Tron at Audi or ID at Volkswagen.
In Europe, German carmakers, for example, have not created a dedicated brand but simply formalized a lineup, EQ at Mercedes, i at BMW, E-Tron at Audi or ID at Volkswagen.
- Ioniq will therefore debut from 2021 with the Ioniq 5, a C segment SUV. Will follow in 2022, the Ioniq 6, a D segment sedan and in 2024 with an Ioniq, a D segment SUV. These three models will be based on a platform named “E-GMP”. As a result, the current BEV Ioniqcould be discontinued when the new brand is launched, in order to not overlap the models. The objective of the Hyundai-Kia group is to sell 1 million BEVs from 2025, including 560,000 for the Hyundai division, under the Ioniq brand. Consequently, the group has set itself the objectives of selling 440,000 BEVs under the Kia brand and possibly Genesis from 2025.
- The strategy of the Hyundai-Kia group is actually quite unclear, with both the creation of a brand dedicated to BEVs (Ioniq), but the conservation of BEVs models within the Kia brand (and possibly Genesis).
- Hyundai-Kia is already facing difficulties with its luxury brand Genesis, which is not yet meeting the expected success (75,000 units in 2019 against 88,000 in 2018). This brand is largely left behind by Lexus, Infiniti or Acura. The success of the Ioniq brand is consequently far from guaranteed, even if Hyundai announces the launch under this brand of three new models in four years, in a growing market.
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