Hyundai Ioniq Electric to be introduced soon

MANILA: After announcing their plans at the Manila International Auto Show to launch the Ioniq Hybrid in the Philippines. Hyundai is set to bring an all-electric version of the car as well, the Ioniq Electric.

The Philippines government offers 50% excise tax discount on hybrid vehicles under the new tax reform law, as a result, the Ioniq Hybrid will be priced at Php 1.5 million. The Ioniq Electric, on the other hand, will be fully exempted on excise tax.

At the EV Summit, the South Korean automaker showcased the electric version of the Ioniq, which turned heads of many auto journalists. Hyundai officials mentioned that it’s not just a display as the company is planning to introduce the Ioniq EV as well.

Once launched, the Ioniq EV will be the first electric vehicle from the stable of Hyundai in the country. Considering sales, Hyundai is one of the leading auto manufacturers in the Philippines.

The front-wheel Ioniq comes with lithium-ion polymer batteries with a capacity of 28kWh and an output of 360V. The drive is capable of churning out a max power of 120PS and a peak torque of 295Nm. According to the US EPA, the range of the Ioniq EV is rated around 200km on one single charge.

Having fully exempted under excise tax, the Hyundai Ioniq EV will have an estimated price of PhP 1.9 million. As of now, nothing is known regarding the launch of the electric vehicle, however, we’ll keep you posted on the same as soon as we hear something from the officials at Hyundai.

The high prices for EVs before TRAIN reform was introduced and lack of charging stations have restrained automakers to launch electric drives in the country. Fortunately, times have changed and the government is now more keen than ever to promote EV models in the Philippines, thanks to excise tax benefit under TRAIN that has also led to the increased installation of charging stations across the country.