Hyundai’s first wave of EVs have done a good job of giving the Korean EV brand a potent spearhead in the EV segment with the Ioniqs 9, 5, and 6 allowing the Korean brand to carve out a niche for itself in the EV vehicle market.

But souring consumer demand and rapid changes in the broader buying landscape are prompting the Korean automaker to shift focus to the entry-level market with a new concept promising to preview the entry it has prepared for budget minded consumers

Concept will help Hyundai enter new sales territory

The teasers Hyundai released don’t reveal much and the company also didn’t confirm what name the concept will have. We suspect it will maintain the core link to the Ioniq family and perhaps be a smaller number with rumors pointing to either the Ioniq 2 or 3. The concept will have full-length LED lightbars front and rear with the look sharing some of its core influence with the refreshed Ioniq 6. The E also appears to be a small hatchback with chunky styling and an integrated ducktail spoiler being some of the highlights.

We have to wait for more images to emerge to get better clarity on other details of the concept though thankfully the company revealed that it will be releasing two more sets of images before the concept makes its debut at the IAA in Munich on September 9th.

Small is becoming the next buzzword in EVs

With big EVs facing headwinds due in part to their high pricing (among other things) many automakers will see downsizing and the move into smaller segments as the next hotly contested EV battleground. The production version of this concept would be the smallest member of the Ioniq family and it would also play a double role with the model not only slotting below the Inster in international markets, but also giving the brand a gateway model in the U.S. below the Ioniq 5 if it makes it to our shores.

Chances are good that the new EV will share the E-GMP architecture with the Kia EV2 and EV3 crossovers. This means it could be powered by a single electric motor with 201 hp (150 kW / 204 PS), sourcing energy from a 58.3 kWh battery pack. Range is the unknown factor here but if it’s high enough, it might give the new EV an early advantage when it comes to getting attention from consumers.