Hyundai unleashes first challenger to Tesla Model 3 with new under £40,000 electric car
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The new model will be the firm’s first move to tackle the electric car market and take on leaders Tesla. Reports have suggested the car could be available for less than £40,000 when it is launches this summer.
Drivers will also be able to secure an instant £3,000 discount on the car as part of the Government’s ongoing plug-in grant.
The new IONIQ 5 will be available in two different battery sizes with a maximum range of up to 298 miles.
However, drivers will also enjoy access to the IONITY fast-charging station which could see road users charge their car to 80 percent in just 18 minutes.
Hyundai has confirmed less than five minutes of charging would be enough for 62 miles, easing range anxiety concerns.
Thomas Schemera, Executive Vice President and Global Chief Marketing Officer at Hyundai said the car will provide a “new experience” for drivers.
He said: “IONIQ 5 will accommodate lifestyles without limits, proactively caring for customers’ needs throughout their journey.
“It is truly the first electric vehicle to provide a new experience with its innovative use of interior space and advanced technologies.”
Hyundai said a “Living Space” theme runs throughout the interior. This includes adjustable front seats to provide extra space for those sitting at the back of the car.
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Customers can choose from nine exterior colours with three palettes available for the interior.
Performance-wise, the Hyundai will certainly not be left lagging behind its rivals.
The IONIQ 5 is capable of 302bhp at maxim power and can manage 0-62 mog in just over five seconds.
The car’s smaller battery model will achieve this in just over eight seconds but top speeds are limited to 115mph.
A range of new technology will also be included such as the latest version of the Bluelink connected car services.
The new tools can provide accurate traffic forecasting and reliable route recalculation as well as showing areas of charging stations.
SangYup lee, Senior Vice President of Hyundai said the new car would be able to link the companies “past to the present and future”.
He said: “A new mobility experience for the next generation—this was the mission from the first day we began this project, to look ahead towards the horizon, but stay fundamentally Hyundai.
“IONIQ 5 is the new definition of timeless, providing a common thread linking our past to the present and future.”
Hyundai’s new car announcement comes just a week after Jaguar Land Rover and Ford committed to a fully-electric future.
Land Rover will launch six electric car variants within the next five years with the first all-electric model due in 2024.
Ford has confirmed all passenger vehicles will be fully-electric by 2026.
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