400-mile range for $21,000: Hyundai turns to Chinese technology for the Ioniq V
Hyundai's sales in China have fallen sharply. The South Korean automaker once sold well over 1 million vehicles a year there, but annual sales recently hit a record low of fewer than 170,000 passenger cars. Hyundai hopes to reverse that decline in the world's largest EV market with a model developed specifically for China. The Hyundai Ioniq V officially launches on September 29. It is the first mass-market model in Hyundai's Ioniq lineup for China, with exports to other countries planned later.
The Ioniq V's price is likely to draw attention. The 16.1-foot-long fastback sedan starts at about $17,860 in the "540 Max" trim. Even the longer-range "650 Max+" version costs about $21,000. The electric sedan uses Hyundai's E-GMP platform, with 800-volt fast charging and frameless doors.
The Ioniq V's technology is also notable. Hyundai is using Chinese technology for several key components, including a battery supplied by CATL. The Ioniq V's lithium iron phosphate (LFP) batteries have capacities of 53.5 and 66.8 kWh, giving the electric sedan ranges of up to 336 and 404 miles, respectively, under China's CLTC test cycle.
Hyundai is also working with Chinese technology companies on the car's software and driver assistance features. A Qualcomm Snapdragon 8295 powers the cockpit's 27-inch 4K display. The system integrates language models from Baidu's Ernie Bot and ByteDance. Hyundai developed the Level 2+ highway driving assistance systems with Chinese specialist Momenta.
The Ioniq V is part of a much broader EV push by Hyundai in China. Its September 29 launch will be accompanied by a major campaign featuring celebrity ambassador Fan Chengcheng. Over the next five years, Hyundai plans to introduce 20 new BEV and EREV models in China. The company aims to raise its annual EV sales in the country to 500,000 by 2030.
The Ioniq V illustrates how much China's EV market has changed. Hyundai is launching an electric car with 404 miles of CLTC range and 800-volt technology for the equivalent of less than $21,000, while relying on Chinese suppliers and technology partners for key components.
Source(s)
Beijing Hyundai (Weibo)
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