Hyundai has announced the launch of its new Ioniq 6, which it claims will offer a driving range similar to Tesla Inc (NASDAQ:TSLA)'s Model 3, in a challenge to the most popular electric sedan.
According to the European WLTP (Worldwide Harmonised Light Vehicle Test Procedure) test cycle, Hyundai's Ioniq 6 SUV will travel 610 kilometers (379 miles) on a fully charged battery, which is more than Tesla's Model 3 Long Range's WLTP test cycle of 602 kilometers.
Hyundai has plans to invest US$10bn in the US by 2025 in electric and autonomous vehicles. Having set a goal of becoming a top-three EV provider in the US by 2025, the Korean automaker hopes its line-up's one-two punch will help it challenge Tesla for the fledgling EV market's crown.
After the Tesla Model Y small SUV, the Tesla Model 3 is the second-best selling electric vehicle in the US.
The Hyundai Ioniq 5 ranks fifth, serving a growing demand for battery-electric SUVs.
Hyundai's Ioniq 6 is the follow-up to its Ioniq 5 SUV and the second model in its Ioniq EV series.