Hyundai is all set to launch its first ever all-electric vehicle in the US – the Ioniq – by the end of this year thereby increasing competition in this growing market.

According to details offered by Hyundai, the Hyundai Ioniq EV offers an estimated 124 miles (200 kilometers) of range. The company is yet to reveal the MPGe ratings, but we expect it to announce those at the 2016 LA Auto Show. The announcement about the launch of its all-electric vehicle was made at a recent briefing wherein the automaker revealed some details about the project and why it was moving in this direction at this particular time.

Michael O’Brien, Hyundai Motor America Vice President of Corporate and Product Planning said that they believe that electrification is the right way to go. The company also revealed that the Ioniq plug-in hybrid will be making its way into the market sometime in the third quarter of 2017.

While the electric vehicle will create a stir in the market, Hyundai believes that its hybrid variant will be the best seller and estimates that the high-efficiency Blue model will return 58 mpg combined, which is better than the Toyota Prius Eco’s figure of 56 mpg. As for the PHEV model, it will target the Prius Prime in the marketplace while offering over 27 miles of all-electric driving, slightly besting the Prius Prime’s 25-mile figure. One benefit of the Ioniq PHEV however is that it will offer seating for five, compared to the Prius Prime’s four.

Ioniq Hybrid

A race-prepared Hyundai Ioniq hybrid prototype, developed by Hyundai Motor America’s Engineering and Quality team, set an FIA-approved production-based hybrid vehicle land speed record of 157.825 mph, with a peak exit speed of 160.7 mph at Utah’s renowned Bonneville Salt Flats. The eco-focused Ioniq is Hyundai’s newest hybrid model, with hybrid, plug-in hybrid and electric powertrains to be available. Ioniq hybrid and electric models go on sale in the U.S. in late 2016.

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Lawrence John is a senior editor at TopExaminer. He has worked in the retail industry for more than 8 years. He loves to write detailed product reviews.

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