Hyundai Motor launches its first electric sedan, competing with Tesla. Read More....

Hyundai Motor Company unveiled its first electric sedan, the Ioniq 6, on Thursday.

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The South Korean automaker is hoping that will help it gain a larger share of the electric vehicle (EV) market currently dominated by Tesla Inc.

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The Ioniq 6 is one of more than 31 electric vehicles produced by the Hyundai Motor Group, which includes Hyundai Motor and its sister company, Kia Corp.

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Plans to introduce by 2030 in order to secure a projected 12% share of the global EV market

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Hyundai's sedan will expand its EV lineup beyond its current crossovers and SUVs, allowing it to compete head-to-head with Tesla in a popular segment.

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The launch comes after Hyundai announced plans to build dedicated EV plants in both the United States and Korea.

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Both vehicles address two major flaws that previous EV vehicles in the US market have had: lack of styling and range." Edmunds senior manager of insights Ivan Drury said of the Ioniq 5 and EV 6.

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