As Ioniq 5 Rises... Kona Electric Approaches Domestic Discontinuation Process

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor's electric vehicle model Kona Electric is set to be discontinued domestically. This is interpreted as a result of demand shifting to the dedicated electric vehicle model Ioniq 5.

According to the industry on the 21st, Hyundai has stopped domestic production of the Kona Electric and is currently selling off inventory. As a result, the Kona Electric will be discontinued domestically about three years after its launch in 2018.

The industry had anticipated the domestic discontinuation of the Kona Electric since the end of last year. This was because the Ioniq 5, the first model to apply the dedicated electric vehicle platform E-GMP, was about to enter mass production. Reflecting this, actual sales of the Kona Electric in the first quarter dropped 40% year-on-year to 984 units, while pre-orders for the Ioniq 5 reached about 40,000 units.

However, Hyundai plans to continue overseas sales in regions such as Europe where demand remains. A Hyundai official stated, "This is a natural step following the launch of the Ioniq 5," adding, "We plan to continue overseas sales in North America, Europe, and other regions."