Electric cars have become a big deal in the last few years. Tesla no doubt played an important part bringing them into the limelight, but there are many other car companies that have been developing and selling electric cars in far more wider markets as well as under competitive pricing. Only a month or so ago Chinese BYD outsold Tesla, the same company Elon Musk made fun of a decade or so ago.
And now Hyundai has confirmed that it has been aggressively working towards developing an affordable car for the European market. This news is also important for the fact that most of Hyundai’s rivals have aimed to discontinue internal combustion engines in the next 10 to 15 years whereas Hyundai still wants to sell the ICE cars along with the electric cars. Tesla Model 3-rivaling Ioniq 6 is the latest among its electric arsenal. Before that there was the iq 5 and in 2024 Hyundai has already confirmed the Ioniq 7 electric SUV. But those are all expensive and big vehicles.
With the cheaper and smaller EV, Hyundai wants to target Europe first where big cars are not exactly in fashion like it is in the USA or other countries of the world.
Hyundai Motor Europe’s marketing chief, Andreas-Christoph Hofmann has mentioned that the company’s new cheap EV is going to cost somewhere in the region of €20,000. Volkswagen is already developing electric vehicles to target the same price segment.
With almost a century of development, the internal combustion engines have gone through numerous development stages where the power plant has shrunk to a point that even a small and tightly packed 660cc engine can do highway speeds and get great mileage. EVs are in their early stages and Hofmann has admitted that fitting electric motors in small cars is a tricky business at least for now.
In Pakistan, everything is dollar-driven. Right now the EVs offered to the customers are either too underpowered or too expensive. With Hyundai developing a small and affordable EV, it is possible that we will see some iteration of that vehicle in Pakistan as well.