Later this month, a brand-new, affordable Hyundai EV will be unveiled. Prior to its official launch at the Busan International Mobility Show, Hyundai is releasing a teaser photograph of its new INSTER EV. Will the all-electric city car make it to the US? It is anticipated to be the newest reasonably priced EV to hit the market.
In 2024, Hyundai is off to a great start. Hyundai continued its upward trend in global EV sales last month, selling over 17,000 units.
Hyundai is gradually eroding Tesla’s (vast) market share in the US for electric vehicles. As of May, Hyundai Motor, which includes Kia, held 11.2% of the US EV market. As of the first five months of 2024, Hyundai Motor has sold 48,383 electric vehicles (EVs) in the US, according to figures from the Korean Automobile & Mobility Association.
In the US, Tesla still has a 40.5% advantage over Hyundai, although that margin has shrunk from almost 53% the previous year.
Hyundai is gaining traction with its E-GMP platform-based specialised EVs both domestically and internationally.
Hyundai’s electric vehicles, such as the IONIQ 5 and IONIQ 6, have a range of more than 300 miles, can be charged quickly—less than 20 minutes—and have a stylish new look. Most notably, arguably, they are among the most economical and fuel-efficient models out there.
Hyundai is expanding its inventory with an additional all-electric car, with the release of the first image of the new INSTER EV on Tuesday.
Hyundai teases the first look at its new INSTER EV
Hyundai unveiled the first pictures of the INSTER EV, a new “A-segment sub-compact EV,” on Tuesday.
The gas-powered CASPER vehicle sold in Korea is the next generation of the Hyundai INSTER EV. According to Hyundai, the new electric vehicle would “set new standards” for safety, technology, and driving range.
As soon as you take one look, it’s clear that the INSTER EV is a modern twist on the CASPER.
The INSTER is clearly an electric vehicle (EV) and a Hyundai thanks to its use of pixel graphic turn signals and tail lights in addition to Hyundai’s iconic daytime running lights.
Hyundai anticipates that the new electric city car will have a WLTP range of up to 220 miles (355 km). The gas-powered CASPER sells for less than $15,000 in Korea, so even if prices aren’t official yet, the new EV is anticipated to be reasonably priced when it launches.
It’s unclear when Hyundai will introduce the INSTER to the US, despite the fact that demand for reasonably priced EVs is growing in the country.
Hyundai may take the lead since manufacturing at its first battery and electric vehicle plant in the US is anticipated to begin later this year. With Kia’s EV3 about to join the market, Hyundai might think about releasing a low-cost electric vehicle in the US to compete with it. Estimated starting prices for Kia’s EV3 are between $30,000 and $35,000.
Additionally, VW just completed design work on the reasonably priced ID. 2 all-electric vehicle, which is scheduled to be on sale later this year for about $27,000 (€25,000).
Hyundai’s new electric car takes place at the Busan International Mobility Show beginning on June 27, 2024.
