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Major automaker overseas launches its most affordable EV yet: '[It] will be Tesla's worst nightmare, at least in the US'

"Talk about a car that people can actually buy."

"Talk about a car that people can actually buy."

Photo Credit: iStock

The electric vehicle space is about to get yet another more affordable addition, as Korean automaker Hyundai has announced plans for an IONIQ 2, which will reportedly cost less than its IONIQ 5.

According to reporting from Electrek, the IONIQ 2 is intended to rival Volkswagen's upcoming ID 2all, which is expected to start at around $27,000. 

Although no official price has been announced, the IONIQ 2 may be even less expensive than that, as Hyundai Europe's VP of marketing, Andreas-Christoph Hofmann, told Automotive News, "Everybody in the industry knows the target of this kind of vehicle is 20,000 euros [around $21,700]."

Hyundai's EVs have gotten consistently rave reviews, especially relative to their price points. The IONIQ 5 recently became the first fully electric vehicle to win MotorTrend's SUV of the Year, and the IONIQ 6 topped the list of the most efficient cars available in the United States alongside the Lucid Air.

The plan for the new most affordable IONIQ yet is consistent with Hyundai's stated plan of becoming one of the top three global producers of EVs by 2030, and the company hopes to establish brand loyalty with EV consumers on par with industry leader Tesla

Electrek's commenters were thrilled to hear the news.

"Hyundai is killin' it. Every EV they've made so far has been a gem in its category, and the hits just keep coming in rapid succession. Ford only has a pickup and an SUV (and they don't make sedans anymore)," wrote one Electrek commenter. "It's hard to predict the future and I've had my share of failures trying. But it still looks to me like Hyundai will be Tesla's worst nightmare, at least in the US."

"Finally, talk about a car that people can actually buy. I don't need a luxurious, unparkable, giant SUV or pickup truck to get groceries," wrote another.

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