While automakers prepare to launch their next wave of electric vehicles, Hyundai already has an EV that checks all the boxes. According to a new report, the Hyundai IONIQ 6 is the only EV on the market offering fast charging in under 20 minutes, over 350 miles range, and at an affordable starting price.

Hyundai IONIQ 6 checks all the boxes as an affordable EV

Hyundai introduced the IONIQ 6 electric sedan in South Korea in late 2022, with sales kicking off in the US in March 2023.

Based on Hyundai’s E-GMP dedicated EV platform, the same one underpinning the IONIQ 5, the IONIQ 6 offers up to 361 miles of driving range. Perhaps, more importantly, you can charge Hyundai’s electric sedan (10% to 80%) in as little as 18 minutes with 800V DC fast charging.

And you get all of this starting at an affordable starting price of as little as $38,650. With long-range capabilities, fast charging, and an affordable price tag, is the Hyundai IONIQ 6 the ultimate EV?

According to a new report from Boston Consulting Group, the Hyundai IONIQ 6 is the only EV on the market that meets potential buyers’ median price, range, and charging targets.

BCG research found that 70% of US consumers are considering buying an EV. Other than the 6% that already own one, 38% said they plan to purchase an EV as their next vehicle, and another 27% are considering one in the future.

However, the study found those holding out are looking for faster charging, more range, and lower prices.

The median requirements include 20-min charging, 30 min detour and wait times for fast-charging stations, 350 miles range, and a price of $50,000.

Hyundai launched the 2024 IONIQ 6 for $4,100 cheaper than last year’s model. Starting at $38,615, Hyundai’s IONIQ 6 checks all the boxes as an affordable, long-range, fast-charging EV.

To make it even more attractive, Hyundai is offering a $7,500 cash offer on all trims, bringing prices down to potentially just over $30,000.

Tesla’s Model 3 was the next closest model to hitting the threshold. The 2024 Tesla Model 3 starts at $38,990 with up to 272 miles range. For the Long Range model, prices start at $47,740, with up to 341 miles range.

The race for lower-cost electric cars

Automakers are rushing to introduce new low-cost EVs. Ford is shifting from large EVs, like the F-150 Lightning, to smaller, more affordable models.

According to a new Bloomberg Businessweek report, Ford plans to launch a new low-cost EV platform. The platform will underpin a next-gen smaller electric pickup and SUV with starting prices around $25,000. Meanwhile, the American automaker is putting plans for a larger three-row electric SUV on hold.

Ford’s CEO Jim Farley explained at a Wolfe Research conference last month that if you cannot keep up with Chinese EV makers, “20% to 30% of your revenue is at risk.”

Farley explained, “As the CEO of a company that had trouble competing with the Japanese and the South Koreans, we have to fix this problem.”

Ford put together a “skunk works team” to develop it with “some of the best EV engineers in the world.” That team is led by Alan Clarke, who led the engineering of the Tesla Model Y.

Speaking of Tesla, the EV leader is gearing up to launch its next-gen electric car, a $25,000 vehicle.

Although initial plans called for Tesla’s next-gen EV to be built at Gigafactory Mexico, CEO Elon Musk confirmed it will be built in Texas.

Musk said the model was “advanced” in its development in December. Tesla’s CEO said he reviews the production line plans “every week.”

Rivian recently unveiled its cheaper R2, starting at $45,000 with at least 300 miles range across all trims. It’s due to enter production in the first half of 2026. The EV startup also introduced the R3, an even smaller and more affordable model that will follow.

Hyundai’s sister company, Kia, is launching a lineup of affordable EVs with starting prices between $30,000 and $50,000.

Kia is expected to launch its entry-level EV3 by the end of the year, starting at around $30,000. It will be followed by the Kia EV4 next year, with prices expected to be around $35,000.

The Korean automaker already launched the compact EV5 electric SUV in China with a low starting price of $20,000 (149,800 yuan).

What do you think? Does the Hyundai IONIQ 6 check all the boxes? Let us know in the comments.

If you want to see what Hyundai’s affordable IONIQ 6 has to offer, we can help you get started today. You can use our link to find great deals on the 2024 Hyundai IONIQ 6 at a dealer near you.