How Hyundai plans to challenge Tesla with Ioniq

SEOUL: Hyundai Motors is betting big on the Ioniq family of electric vehicles in an attempt to become the third-largest EV manufacturer by 2025.
The Korean carmakers on Monday launched a dedicated EV brand under the name ‘Ioniq’, which will offer customer-centric EV experiences centered on connected lifestyle solutions.
Under the brand, Hyundai will introduce three innovative IONIQ EV models over the next four years, starting early 2021 with Ioniq 5, a midsize EV CUV based on the concept ‘45’. Ioniq EV models will be built on the E-GMP platform. Here are five things that we know about this new brand.

Here’s all you need to know about Hyundai’s Ioniq brand:
Why Ioniq:
Hyundai first introduced the term Ioniq, which fuses “ion” and “unique”, when it announced Project Ioniq, a long-term research and development project focused on eco-friendly mobility.
Based on the project, Hyundai in 2016 introduced a vehicle named Ioniq, the world’s first and only model to offer a choice of three electrified powertrain options – hybrid electric, plug-in hybrid and battery electric – within a single body type.
Now, Ioniq represents Hyundai’s growing commitment to sustainability and innovation and will be instrumental in achieving the company’s clean mobility goals.
What’s the goal:
Hyundai Motor Group recently announced that the group aims to sell 1 million units of battery electric vehicles and take 10 per cent share to become a leader in the global EV field by 2025.
Under Strategy 2025, Hyundai Motor Company itself aims to become the world's third-largest automaker of eco-friendly vehicles by 2025, with 560,000 BEV(Battery Electric vehicles) sales in addition to FCEV (Fuel-Sale Electric Vehicles) sales.
The launch of the Ioniq brand dedicated to EV models reinforces the company’s commitment to clean mobility and reflects its ongoing transformation as a Smart Mobility Solution Provider with zero-emissions solutions.

Product line-up:
Hyundai will be launching a range of numerically named EVs under the new brand, with the even numbers used for sedans and the odd numbers for SUVs.
The first model under the brand will be the Ioniq 5 midsize SUV that will launch in early-2021. Ioniq 5 is based on the concept EV ‘45’, which Hyundai has already unveiled at the International Motor Show (IAA) 2019 in Frankfurt as a homage to its very first concept car.
In 2022, Hyundai will introduce Ioniq 6 sedan, which is based on the company’s latest concept EV ‘Prophecy’, unveiled in March; followed by Ioniq 7, a large SUV in early 2024.
Each model will derive inspiration from past however, would be aimed at the future of mobility.
A special platform:
Ioniq brand models will sit on an Electric Global Modular Platform, known as E-GMP, that will enable fast charging capability and plentiful driving range.
To fulfill Ioniq’s brand mission, Hyundai will combine its current EV capabilities – such as ultra-fast charging, spacious interior, and battery-supplied power – with future innovations that combine design, technologies and services to integrate in-car and out-of-car experiences for a seamless journey.
Towering competition:
Currently, the likes of Tesla, VW Group and Nissan-Renault alliance lead the pack of BEV manufacturers.
California-based Tesla which makes only electric vehicles, aims to retain its current position as the world's EV leader. Chief Executive Elon Musk has said he expects the company to sell "a few million" vehicles in 2025.