April 25, 2024

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[THE INVESTOR] Hyundai Motor on June 13 said it plans to release an electric version of the new Kona compact SUV in the first half of next year.

“We are developing Kona EV with plans to roll out in the first half of next year,” Jung Rak, vice president at Hyundai Motor said at the Kona’s official unveiling event. “The car, which will run 390 kilometers on a single charge, will have a competitive edge in the market once launched.”

When released, Hyundai’s new car is expected to have the longest driving range in the EV market, outpacing its current rivals Chevrolet Bolt EV that delivers the longest-range of 383 kilometers and Tesla Model S with 378 kilometers. Hyundai’s own Ioniq EV delivers 191 kilometers, while its smaller affiliate Kia Motors’ Soul offers 148 kilometers.

Hyundai said it is also planning to release fuel cell electric SUV next year as well, just in time for the PyeongChang Winter Olympics in Korea.

The nation’s largest automaker unveiled the much-touted Kona compact SUV to make a foray into the burgeoning compact SUV market. With Kona’s debut, the automaker plans to complete the full SUV lineup by 2020, by adding the smallest A-segment SUV, which sits below Kona, and the largest E-segment, larger than Sportage SUV.

Kona, which comes in 1.6-liter gasoline and diesel engines, will launch in the domestic market later this month, and then be introduced in Europe and the US in August and December, respectively.

By Ahn Sung-mi (sahn@heraldcorp.com)