Hyundai plans on introducing a longer-range electric car soon
What's the story
Hyundai already has an electric model under its kitty, but that model lags behind when compared to the ones introduced by its competitors. Noticing the increasing demand for eco-friendly cars, the Korean carmaker announced that the firm will delve further into producing EVs and will soon introduce a car capable of going 500km on a single charge. Here's more about it.
Plans
What's the plan?
Hyundai, along with its affiliate Kia, plans to launch 31 eco-friendly car models by 2020. Its new range of environmentally-conscious cars will include eight battery-powered cars, three plug-in hybrid vehicles, and two fuel-cell vehicles. The carmaker would also develop a dedicated facility for pure electric vehicles, giving the firm the freedom to manufacture several car variants with long driving ranges.
EVs
What's the situation?
The Korean firm's current EV, Ioniq, has 280km range, easily beaten by GM's Bolt or Tesla's Model 3, with ranges excess of 350km. According to an analyst, by the time Hyundai's new model comes out in the market, chances are its high-end competitor Tesla would have exceeded the proposed 500km range. However, that doesn't mean everything is lost for Hyundai.
Price
What might work for Hyundai?
The range might exceed before Hyundai's next EV model launch but pricing is also an important factor. As long as the carmaker is able to provide a consumer car capable of reasonably good performance and doesn't burn a hole in the pocket, it will have a solid footing in the EV market. Moreover, the market is still growing, therefore, possibilities are countless.