EXCLUSIVE: Hyundai to launch Ioniq 9 in December

Industry

Published: 23 Feb. 2024, 07:00 Updated: 28 Apr. 2024, 17:03

EXCLUSIVE: Hyundai to launch Ioniq 9 in December

Visitors check out Hyundai's Ioniq 9 concept car during the 2024 Indonesia International Motor Show in Jakarta, Indonesia on Feb. 19. [EPA/YONHAP]

Hyundai Motor will release its newest Ioniq series in December, and the upcoming three-seater electric SUV will be branded the Ioniq 9 instead of the widely-expected Ioniq 7.

“Hyundai Motor recently changed its name of Ioniq 7 to Ioniq 9 through internal discussions,” a source directly related to the project told the Korea JoongAng Daily.

“The size and specs won’t change, but only the name.”

Ioniq 9 concept car [HYUNDAI MOTOR]

The soon-to-be-released Ioniq 9 will be Hyundai’s first large, pure-electric SUV. The concept car was first unveiled at the 2021 Los Angeles Auto Show. Ioniq is an EV-dedicated brand under Hyundai Motor whose current lineup includes the Ioniq 5 SUV and Ioniq 6 sedan.

The “introduction date has been set for December,” the source added — contradicting earlier reports and rumors, which had indicated that Hyundai would introduce the product at the Busan International Motor Show scheduled for June.

Hyundai Motor declined to comment, adding that “nothing can be confirmed at the moment.”

Interior of the Ioniq 9 concept car [HYUNDAI MOTOR]

The name change implies that Hyundai may add smaller offerings under the Ioniq EV brand between the existing Ioniq 6 and Ioniq 9.

Kia’s EV9, also a three-seater electric SUV, showed disappointing sales figures in the domestic market due to its high price tag. Kia sold 8,052 EV9s last year, falling far short of its target of 16,000.

“The large-size SUV has to come at a cheaper price than the EV9 amid the intensifying price war in the global auto scene,” said Kim Pil-soo, an automotive technology professor at Daelim University College who also serves as the chairperson of the Korea Electric Vehicle Association.

“Hyundai Motor will likely release Ioniqs with smaller bodies, though they may come later.”

Media reports suggest that the Ioniq 9 will come with 76.1-kilowatt hours and 99.8-kilowatt hours battery options and run up to 501 kilometers (311 miles) per single charge.

The EVs will be manufactured at Hyundai’s plants in Asan, South Chungcheong, and Georgia. The Georgia facility is currently under construction, and the company aims to complete it by October.

Hyundai Motor sold 268,785 EVs in global markets last year, nearly tripling its total from 2020.

It reported a record-high operating profit of 15.13 trillion won ($11.39 billion) in 2023, an on-year increase of 54 percent, thanks to strong sales of high-margin EVs.

Hyundai ranked first in terms of operating income among Korean companies last year, dethroning Samsung Electronics, which had maintained the spot for the last 14 years.

Hyundai Motor Group is the world’s third-largest automaker after Toyota and Volkswagen, followed by General Motors and Stellantis.

BY SARAH CHEA [chea.sarah@joongang.co.kr]