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 can be offered alongside the Kia EV2. Will 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 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, just like the upcoming Kia EV2.
The Inster EV is seeing sturdy preliminary demand in Europe and Japan. In line with a neighborhood report (by way of Newsis), demand for the Casper Electrical is so excessive that patrons are ready over a yr for supply.
Hyundai is doubling down with plans to introduce an much more reasonably priced EVrumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, stated throughout a latest interview that “The brand new electrical car can be unveiled within the subsequent few months.”
The brand new EV is anticipated to be a compact SUV, which can seemingly resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and different international areas in 2026.
Hyundai is protecting most particulars underneath wraps, however the anticipated IONIQ 2 is more likely to sit beneath 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 first half of the yrKia’s compact electrical SUV is the UK’s hottest EV.
Just like the Hyundai IONIQ fashions and Kia’s different electrical autos, the EV3 relies on the E-GMP platform. It’s out there 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 beneath the EV2 that would begin at underneath €25,000 ($30,000).
In line with the report, Hyundai and Kia are doubling down on lower-priced EVs to stability 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 continues to be anticipated to broaden 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 models offered by way of June.
After delivering the first 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 continues to be right here, Hyundai is providing beneficiant financial savings with leases for the 2025 IONIQ 5 beginning as little as $179 per thirty days. The three-row IONIQ 9 begins at simply $419 per thirty days. And Hyundai is even throwing in a free ChargePoint Dwelling Flex Stage 2 charger for those who purchase or lease both mannequin.
Sadly, we seemingly gained’t see the entry-level EV2 or IONIQ 2 within the US. Nonetheless, Kia is ready to launch its first electrical sedan, the EV4in early 2026.
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