Hyundai launches new Ioniq EV brand

HYUNDAI Motor Company (HMC) has this week announced a new dedicated electric vehicle brand – Ioniq – that will launch three all-new EVs over the next four years, starting with the Ioniq 5 that is expected to arrive in Australia next year.

Just as the South Korean car-maker created the Genesis luxury brand from an established Hyundai model line, HMC has borrowed another familiar nameplate to produce a standalone EV brand, although in this case the current Ioniq models will not be included in the new marque.  

The all-new Ioniq models are all expected to be sold in regular Hyundai dealerships, unlike Genesis which has separate retail operations in Australia.

All Ioniq models will be underpinned by HMC’s global modular EV platform known as E-GMP, but no specific powertrain details have come to light yet.

As well as denoting size, the model nomenclature will use odd numbers for SUVs and even numbers for sedans.

The Ioniq 5 is a mid-size crossover based heavily on the 45 concept which debuted at last year’s Frankfurt motor show.

It will be followed by the Ioniq 6 sedan, which is slated for a 2022 introduction and is based on the Prophecy concept car unveiled earlier this year.

A large SUV, the Ioniq 7, will be launched early in 2024.

Hyundai Motor Company Australia is yet to officially confirm the new vehicles for this market, but has expressed its desire to offer every Ioniq model that is made available in right-hand drive.

The rollout is in line with Hyundai Motor Group's ‘Strategy 2025’, which sets a target of achieving one million battery-electric vehicle sales and at least 10 per cent of the global EV market by 2025.

The latter would see HMG become one of the top three global EV manufacturers, with around 560,000 produced each year by mid-decade.  

“The Ioniq brand will change the paradigm of EV customer experience,” said HMC executive vice-president and global chief marketing officer Wonhong Cho.

“With a new emphasis on connected living, we will offer electrified experiences integral to an eco-friendly lifestyle.”

It remains to be seen whether the current Ioniq models, which include EV, plug-in hybrid and conventional hybrid powertrain variants, will continue in showrooms once the new brand kicks off with the arrival of the Ioniq 5.

The term itself is a fusion between “ion” and “unique”, with the current Ioniq being the result of Project Ioniq – a long-term research and development project focused on eco-friendly mobility.

To help commemorate the launch of the new brand, HMC took to the London Eye with dozens of illuminated lights to turn the landmark into a giant letter Q at the tourist attraction’s official reopening to the public after being closed as a result of the coronavirus pandemic.