South Korean car manufacturer Hyundai is expanding its electric range. After the unveiling of the Ioniq 6 as a rival to the Tesla Model 3, the arrival of the Ioniq 7 SUV with three rows of seats was announced for 2024. For those with a little less money, Hyundai is preparing a cheaper electric car for the European market that will cost around 20,000 euros.

In an interview with Automotive News Europe, Hyundai’s head of marketing in Europe Andreas-Christoph Hofmann said that developing a more sustainable electric vehicle in response to increasingly stringent emissions laws in the European Union will be a difficult task. First of all, small cars are cheaper and do not bring much profit, which will affect the company’s profit. That’s why Hyundai has focused on its three larger models, the Ioniq 5, Ioniq 6 and Ioniq 7.

Hyundai plans to produce 11 electric models by the end of the decade, and this is supported by the fact that Hyundai’s share of the European electric car market has grown by 470 percent.

The South Korean automaker is among several companies that believe hydrogen still has a future. However, without major investments in infrastructure, fuel cell cars like the N Vision 74 Concept remain just a dream.

Source: Automotive News Europe