Reports are emerging about an all-electric SUV that will soon be released in China. It's a flag in the ground for the South Korean automaker Hyundai in what its officials consider a "must-fight place," according to Electrek.
The Elexio is an Ioniq 5 doppelganger. The latter model is available stateside, where tariffs prevent competition with innovative Chinese brands such as BYD. The internationally popular brand annually competes with Tesla as the global EV sales leader.
China is a burgeoning EV market, with 11 million battery-powered rides sold there last year. Globally, 17 million were bought in 2024, a 25% increase from 2023, according to the International Energy Agency. And while 2025 sales remain strong globally, Reuters and CNBC reported that U.S. figures are slumping. President Donald Trump's spending bill ends tax incentives Sept. 30, a likely contributor to the struggle.
For Hyundai, Elexio is staking out a beachhead in the most competitive EV market in the world. It's "a new starting point for the transformation from traditional fuel vehicle giant to electrification," the company said, per Electrek.
And it has the ability to make things interesting. If modeled after the Ioniq, customers should expect a clean, modern design with all the high-tech bells and whistles. It will be able to charge from 30% to 80% in about 27 minutes, Electrek reported. Car and Driver tested the Ioniq's power-up ability, juicing it from 10% to 90% in 30 minutes using a fast-charger.
"Making us think the estimate for the Elexio is a bit conservative," the publication's Caleb Miller wrote.
The range is expected to be 435 miles, per both articles. The battery will use lithium-iron phosphate chemistry. It's an alternative to common lithium-ion tech that's gaining ground because of a long lifespan, lower costs, and charge-discharge durability, Forbes reported.
CarNewsChina added that the Elexio, expected to launch this year, will start at $19,500 — the Ioniq base price is $42,600 in the United States — and reach a top speed of 115 mph.
EVs remain a great way to cut gas and service costs by up to $1,500 annually, partly because they don't require oil or fluid changes. Fast action can secure the $7,500 tax break before it ends this autumn. What's more, many states offer their own EV perks, as well. That's not to mention the thousands of pounds of heat-trapping air pollution that can be cut by switching, according to the Department of Energy. The tailpipe exhaust has been linked to child asthma cases and more health risks, per Yale Environment 360 and other studies.
A household solar setup can add to the savings by providing free sun energy to charge your EV. EnergySage is a free service that can help you land all the incentives while they last. The tax breaks, and finding the right installer, can save you up to $10,000.
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