Hyundai teases its new INSTER EV for the first time, the latest affordable electric car

A new low-cost Hyundai EV will be revealed later this month. Hyundai is teasing the first images of its new INSTER EV ahead of its official debut at the Busan International Mobility Show. The all-electric city car is expected to be the latest affordable EV to hit the market, but will it make it to the US?

Hyundai is off to a hot start in 2024. Last month, Hyundai sold over 17,000 EVs globally, maintaining its momentum.

In the US, Hyundai is chipping away at Tesla’s (wide) lead in the EV market. Hyundai Motor, including Kia, accounted for 11.2% of the US EV market through May. According to data from the Korean Automobile & Mobility Association, Hyundai Motor has sold 48,383 EVs in the US through the first five months of 2024.

Tesla still holds a 40.5% lead over Hyundai in the US, but that gap has narrowed from nearly 53% last year.

Hyundai is building momentum in the US and globally with dedicated EVs based on its E-GMP platform.

Hyundai’s EVs, like the IONIQ 5 and IONIQ 6, offer over 300 miles range, fast charging capabilities in under 20 mins, and a sleek new design. Perhaps, most importantly, they are some of the most affordable and fuel-efficient available.

After releasing the first look at its new INSTER EV Tuesday, Hyundai is adding another all-electric vehicle to its lineup.

Hyundai teases the first look at its new INSTER EV

Hyundai dropped the first images of its new “A-segment sub-compact EV” Tuesday, the INSTER EV.

The Hyundai INSTER EV is an evolution of the gas-powered CASPER model sold in Korea. Hyundai claims the new electric car will “set new standards” in driving range, tech, and safety.

From the first look, you can see the INSTER EV takes influence from the CASPER but with a modern upgrade.

With Hyundai’s signature daytime running lights, plus added pixel graphic turn signals and tail lights, the INSTER is unmistakenly an EV (and a Hyundai).

Hyundai expects the new electric city car to feature up to 220 miles (355 km) WLTP range. Although prices are yet to be confirmed, with the gas-powered CASPER selling for under $15,000 in Korea, the new EV is expected to hit the market with an affordable price tag.

Although demand for affordable EVs is climbing in the US, it’s unclear if Hyundai will bring the INSTER to the states yet.

With production at its first EV and battery plant in the US expected to start later this year, Hyundai could make the move. With Kia’s EV3 set to hit the market, Hyundai may consider launching the low-cost electric car to rival it in the US. Kia’s EV3 is expected to start at around $30,000 to $35,000.

Volkswagen also just finished design work on its affordable ID. 2 all-electric car, which is expected to debut later this year starting around $27,000 (€25,000).

Check back for more info as Hyundai’s new electric car will make its official global debut at the Busan International Mobility Show, starting June 27, 2024.