Jeong Eui-seon's Ambitious Project 'Ioniq 5' World Premiere Today

Hyundai's First Model Using Electric Vehicle Dedicated Platform E-GMP
Expected to Target the Explosively Growing Global Electric Vehicle Market

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company will unveil its first electric vehicle model produced on an exclusive electric vehicle platform, the 'Ioniq 5,' on the 23rd. Hyundai plans to sequentially launch the Ioniq 5 worldwide, starting with Europe next month, to solidify its leadership in the rapidly growing electric vehicle market.

The Ioniq 5 is also considered the core of the next-generation growth engine envisioned by Hyundai Motor Group Chairman Chung Euisun, with some evaluations suggesting that Hyundai's future depends on its success.

Ioniq 5 Exterior Teaser Image

Ioniq 5 "We will catch Tesla"

Hyundai plans to reveal the Ioniq 5 to the world at 4 p.m. today through the official Hyundai Motor Group YouTube channel and other platforms. The Ioniq 5 is the first model to apply Hyundai Motor Group's dedicated electric vehicle platform, E-GMP (Electric-Global Modular Platform). Electric vehicles built on the E-GMP platform reduce costs compared to those using internal combustion engine platforms and improve performance in all aspects, including battery, speed, driving range, and design.

Hyundai aims to overturn the global electric vehicle market landscape with the Ioniq 5. Currently, Hyundai Motor Group ranks fourth in global electric vehicle sales, following Tesla, Volkswagen, and Renault-Nissan. Its market share is about 7%, still far behind the leader Tesla's 17%. Hyundai's strategy is to quickly release successive models starting with the Ioniq 5 to narrow the market share gap with the leading group.

The Ioniq 5 is also central to Chairman Chung's vision for Hyundai's future strategy. Chairman Chung is transforming Hyundai into a mobility solutions company by focusing on electric vehicles, autonomous vehicles, robots, personal air vehicles, and hydrogen as future growth engines. If the Ioniq 5 succeeds, it is expected to accelerate Hyundai's transformation into a future mobility company.

500 km Driving Range on a Single Charge... Launch Starting Next Month

The market views the Ioniq 5's success potential highly. It significantly enhances vehicle performance by using a dedicated electric vehicle platform, which only a few companies worldwide, such as Tesla, Volkswagen, and GM, possess. The Ioniq 5 can drive over 500 km on a single charge (based on WLTP standards).

Additionally, equipped with an 800V charging system, it can charge up to 80% within 18 minutes using ultra-fast chargers, boasting relatively superior performance compared to other electric vehicles. Based on a platform with a battery floor layout, it offers spacious interior and cargo space that electric vehicles using conventional internal combustion engine platforms do not have.

Ioniq 5 Interior Teaser Image

The differentiated design also draws attention. The Ioniq 5 features Hyundai's core brand design element, the 'Parametric Pixel.' The Parametric Pixel is a design that visualizes pixels, the smallest units composing an image.

Inside, it applies a flat floor that eliminates the interior tunnel, a structural limitation of internal combustion engine vehicles, and a Universal Island console that can move forward and backward.

It also enhances mobility sustainability by extensively applying eco-friendly materials and green manufacturing methods. Some leather seats and door armrests use fabric made by crushing and processing recycled transparent PET bottles, and bio-materials extracted from sugarcane are used on doors, dashboard, ceiling, and floor parts.

Hyundai plans to aggressively target the global electric vehicle market centered on the Ioniq 5. It will be first launched in Europe next month, followed by sequential sales in other regions, including South Korea and North America, starting in April.

An industry insider said, "The Ioniq 5 boasts revolutionary charging speed and driving range compared to existing electric vehicles, with spacious interior and advanced autonomous driving features," adding, "It is expected to have competitiveness comparable to Tesla."