Last month, Hyundai confirmed that it was developing a small and affordable EV for Europe with a starting price of under 20,000 euros but a new report claims that there will be a second EV. Both models are expected to debut in mid-2023 and late 2024.
According to Autocar, the EV will be the successor to the Hyundai i10 which is positioned in the city car segment (A-Segment). They are expected to rival the upcoming VW ID.1 and ID.2, alongside sibling models from Skoda and Cupra. VW Group is also targeting a €20,000 price tag for their cheapest urban EV, suggesting that this may be the new price standard for the segment.
There is no official information on the design of this new Hyundai EV but it is expected that one of them adopts a similar style to the Hyundai i10, with the other slightly roomier and taller like the Hyundai Casper. Previously, the two small SUVs had been rumored to be getting an EV variant in 2023.
Hyundai's newest small EV will sport an integrated drive module (iDM), which is rumored to be capable of producing up to 181 hp (135 kW / 184 PS). That sounds too much for a city car so Hyundai engineers will likely scale it down, or at least save the full potential of the electric motor for an unconfirmed N-branded variant.
Profit margins in the smaller segment are quite narrow, with Hyundai and rival automakers admitting it is difficult to make money from urban cars. As such, it wouldn't be surprising if the new EV is based on an electrified version of the tried and tested K1 architecture that underpins several Hyundai and Kia models in different markets around the world.
In addition to the small car duo, Hyundai's plans include another 10 EV launches in Europe by 2030. Having a zero-emissions vehicle model will help the Korean automaker comply with stricter emissions regulations.