Skip to main content

Hyundai is preparing an Ioniq 2, likely an entry-level EV for the masses

Hyundai is planning an affordable EV

2023 Hyundai IONIQ 6 front end angle parked in front of city buildings.

For those who are old enough to remember when plasma TVs first appeared on shelves at electronics stores, while the TVs themselves were amazing, their prices were amazingly exorbitant. But with the advent of evolved technology like LCD, LED, and OLED, not only did the performance of televisions improve, but their cost precipitously dropped, thanks to more efficient and streamlined manufacturing processes.

The story arc for modern EVs looks to be playing out much in the same way as it did for our beloved program providers. While once owning an EV meant you needed a lot of greenbacks to go green, Hyundai is changing all of that with the announcement of its newest Ioniq 2, which promises to be one of the most affordable options on the market when it hits showrooms next year.

ev charging in sunny weather
Blue Planet Studio / Shutterstock

The Hyundai Ioniq 2 is expected to have a range of 250 miles

Eclipsing more than 218,000 EVs exported in 2022, the South Korean automaker has doubled its sales over the last two years, and the Ioniq 2 looks to help increase that number. While no official numbers are available as of this writing, the Ioniq 2 is expected to offer a minimum of 250 miles of range.

Like many of its corporate EVs, the Ioniq 2 will be built on Hyundai’s IMA platform, which is not only more cost-effective than the current E-GMP platform used today, but it’s more technologically advanced. This platform will also serve as the underpinning for 13 different Hyundai, Kia, and Genesis models moving forward.

Hyundai Ioniq 6 interior

The Hyundai Ioniq 2’s target price is $21,890

The big news is that Hyundai’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.” That figure translates to roughly $21,890, which would make it not only the cheapest EV on the market, but one of the least expensive new cars of any kind.

Not so coincidentally, the announcement of Hyundai’s Ioniq 2 comes on the heels of rival Volkswagen’s debut of its ID 2all concept EV, which is set to go on sale in 2025 as well. The VW is expected to have a range of 279 miles and retail for approximately 25,000 euros ($27,000), making the Hyundai a decidedly cheaper competitor.

With the Ioniq 2, Hyundai is taking solid steps toward its goal of being a top-three EV producer by the end of the decade. Including its subsidiary Kia, Hyundai’s mission is to have 3.6 million EVs sold by 2030.

Complementing its already growing stable of EVs, the Hyundai Motor Group is paving the way to more affordable electric vehicles for the masses. With the upcoming Kona EV, along with the Ioniq 5 and 6, the Ioniq 2 will add another channel to display its continuing progress toward making the world a cleaner and greener place. Much like a movie you might watch on your LCD or LED TV today, the Ioniq 2 is an exciting sequel centered on prudent fiscal stability in an unstable world.

Editors' Recommendations

Lou Ruggieri
A lifelong lover of cars, Lou contributes to Motor Trend, Hot Cars, Auto & Truck Connection, and the PowerAutoMedia Group.
New Audi Q8 e-tron edition Dakar is a stylish, off-road-ready luxury EV SUV
Audi has a desert-racing-inspired EV SUV that won't scare your neighbor's dog
2024 Audi Q8 e-tron edition Dakar driving on a desert road directly toward the viewer

Few racing fans will drive a million-dollar-plus trophy truck in the Dakar Rally desert race in Saudi Arabia. However, for drivers who aspire to take their daily driver on more moderate off-road adventures, the new Audi Q8 e-tron edition Dakar will let you scratch the desert-racing itch.

The Q8 e-tron edition Dakar was inspired by Audi's non-production RS Q e-tron in the image below and developed specifically to run in the Dakar Rally.

Read more
BMW sets all-time U.S. sales record on back of EV lineup, MINI shows huge gains
BMW, MINI had a huge sales year in 2023
BMW i7 M70 xDrive

BMW has just smashed its annual sales record in North America, thanks in part to the manufacturer’s successful range of EVs and the appeal of the Mini brand. The Bavarian car builder announced it had sold a total of 362,244 to American customers in 2023 -- a 9% increase on its 2022 figures. The company also saw a strong final quarter of 2023, with sales seeing a 6% spike in the last few months of the year.

During that time, EV sales roughly tripled, demonstrating that the gamble BMW took when it decided to push hard on electric is paying off. 2023 saw the launch of the electric 5 Series, along with the i7. Both vehicles also received an “M” package with boosted performance and a few special features. The i4 sedan and iX SUV complete the company’s current North American electric lineup, though more EVs are expected to emerge in the near future. This includes the first electric version of the BMW M5 -- which could be announced in the summer of 2024, with customers getting behind the wheel sometime in late 2024 or early 2025. All in all, BMW sold 45,417 EVs to Americans in 2023, which the company says is around 12.5% of its total sales output. Given this success is happening while the process of electrifying the BMW lineup is far from complete -- the company’s chances of hitting its 50% EV sales target are looking a lot more realistic.

Read more
Toyota has developed a fake manual transmission for EVs — why it actually matters
Guess we'll all have to learn stick shift again (sort of)
Toyota UX300e EV manual prototype

Toyota UX300e EV manual prototype Toyota / Toyota

With the electric r(ev)olution well underway, there are some unintended consequences to the march toward efficiency. Everyone of driving age (at the time of writing this, at least) has grown up with the sound of fossil-fueled powered engines. But EVs are essentially silent in their operation. While relaxing, the quiet-riding nature of these cars does take away from the visceral experience of driving that persists and car lovers are accustomed to.

Read more