Hyundai Launches Standalone EV Brand
Aug. 19, 2020—Hyundai Motor Company announced the launch of its new brand, IONIQ, that is dedicated entirely to electric vehicles. IONIQ will offer customer-centric EV experience and hopes to act as a leader in the industry during the next phase in electric vehicle technology.
According to the press release, IONIQ plans to introduce three new dedicated models within the next four years, two sedans, the IONIQ 5 and 7, and one SUV, the IONIQ 6.
The creation of IONIQ was a response to the industry's evolving market demands and falls in line with Hyundai's goal of leading the EV market, says Wonhong Cho, executive vice president and global chief marketing officer at Hyundai Motor Company. The company aims to sell one million units of electric vehicles and take 10 percent share to be dubbed a leader in the field by 2025.