Hyundai Motor Group has launched the 2022 Hyundai IONIQ 5, Kia EV6, and Genesis GV60 based on their proprietary pure electric vehicle platform. While it's difficult to make direct comparisons of their performance so far, the cumulative sales for these three models reportedly amount to 50,000 units domestically and 100,000 units for exports.

Looking at domestic sales alone, approximately 33,000 IONIQ 5s, 18,000 EV6s, and 3,000 GV60s have been sold, totaling around 54,000 units. The IONIQ 5 was released last April, the EV6 in August, and the GV60 in October. In terms of exports, by the first quarter of 2022, about 76,000 electric vehicles were sold, of which 42,000 were dedicated electric vehicles, accounting for 56% of sales.

Previously, Hyundai Motor Group's flagship electric vehicles were the Kona Electric and Niro EV. While a new Niro EV is set to launch and a full model change for the Kona Electric is planned, the E-GMP-based electric vehicles can now be considered Hyundai's representative electric cars. The IONIQ 5 has also started production in the Indonesian factory, and the GV60 is set to begin full-scale overseas sales.

Hyundai Motor Group aims to sell 200,000 electric vehicles this year. To achieve this, they are continuously expanding their overseas presence. The electric G80 and GV60 are scheduled for release, with pre-orders currently underway. Additionally, the electric SUV GV70 is set to launch in Europe.

The European prices for the electric G80 and GV70 have not yet been disclosed. Given that their domestic prices range from 70 million to 80 million won (approximately $62,000 to $71,000 USD), we can expect similar pricing in Europe. The G80 electric's main competitors in the electric sedan market are likely to be the Mercedes EQE and BMW i4.

The Audi A6 e-tron is expected to be a competitor when it launches. For the GV60, potential rivals include the Volvo C40 Recharge and Polestar 2. The GV60's 114.2-inch (2,900mm) wheelbase is considered a significant advantage. Tesla's Model 3 and Model Y are also in the mix.

Hyundai Motor Group aims to compete with Volkswagen, Tesla, and others through its Genesis brand. Features like V2L (Vehicle-to-Load) are receiving high praise in the European market. As of 2020, the European electric vehicle market accounted for about 10% (approximately 1.4 million units) of global electric vehicle sales. China had 1.2 million units, while the U.S. had about 295,000 units.

Hyundai and Kia hold 7.3% and 6.6% market share respectively in the European market, ranking 3rd and 4th behind Volkswagen's 7.7%. When combined, Hyundai and Kia's 13.9% market share puts them second only to Tesla.

In February, the EV6 became the first Korean brand to be named European Car of the Year. By February of this year, approximately 14,000 EV6 units had been sold, capturing an 8.7% market share and ranking second behind Tesla's 10%.

The IONIQ 5 and EV6 are rapidly gaining traction in the European electric vehicle market, earning recognition for their design and product quality. Experts predict that these models will establish themselves in Europe through a mass-market approach rather than as premium brands. Hyundai aims for electric vehicles to account for 69% of its European sales by 2030, higher than its targets for the U.S. (58%) and domestic market (36%). In the latter half of the year, the launch of the EV6 GT and IONIQ 5 N is expected to make an impact in the high-performance electric vehicle market.

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