Hyundai Motor launches its first electric sedan, competing with Tesla.
Hyundai Motor Company unveiled its first electric sedan, the Ioniq 6, on Thursday.
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.
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.
Plans to introduce by 2030 in order to secure a projected 12% share of the global EV market
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.
The launch comes after Hyundai announced plans to build dedicated EV plants in both the United States and Korea.
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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