The world-renowned South Korean automobile manufacturer Hyundai Motor Company recently unveiled its first EV.
Hyundai Electric Sedan- First EV
Hyundai Electric Sedan- New Model
With this new model, Hyundai hopes to compete with Tesla which is currently an established player.
According to an article from Reuters, this Ioniq 6 is part of Hyundai Motor Group's strategy to create.
Hyundai Electric Sedan- As per the Reuters
The plan comprises over 31 electrical vehicles to be launched through Hyundai Motor its sister company Kia Corp.
Hyundai Electric Sedan- Electrical Vehicles
The report also mentions the fact that Hyundai Motor and Kia Corp have a total of 13.5 percent.
Hyundai Electric Sedan-
Company Plan
But, they were just behind Tesla who held 22 percent of the shares of the market in that industry.
Hyundai Electric Sedan-
Tesla Killer
The new Ioniq 6 is being planned to compete with the dominant Tesla Model 3, allowing Hyundai.
Hyundai Electric Sedan-
Dominant
Tesla tends to increase the cost of their electric vehicles Hyundai hopes to gain advantage on the EV market.
Hyundai Electric Sedan-
EV Market
Image Source-HT Auto,Business Today
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