Hyundai Motor’s IONIQ 6 shows off 3rd-longest driving range in US  

The IONIQ 6, the first fully electric sedan by Hyundai Motor Co., has been named one of the top three distance champions in the US based on tests by the renowned US auto magazine Car and Driver, raising expectations that the Korean car would gain further traction in the world’s third largest EV market.

According to sources in the auto industry on Sunday, Hyundai's IONIQ 6 ranked third in the EV range capability test by Car and Driver after running 361 miles on a single charge based on US Environment Protection Agency ratings.

The top two EV distance winners were the Lucid Air Grand Touring by American luxury EV maker Lucid Group Inc. and Tesla Inc.’s Model S, which boast 516 miles and 405 miles, respectively.

Of the top 10 list, the IONIQ 6 is the only electric vehicle manufactured by an Asian car maker and a non-EV dedicated auto brand.

Launched in 1955, Car and Driver is a trusted US auto-dedicated publication that gives car owners and buyers advice on cars with in-depth reviews and analysis.

As many car owners and buyers take its reviews into account, the IONIQ 6’s latest win is expected to bode well for its sales in the US, analysts projected.  

The latest honor for the South Korean EV also comes less than a week after Car and Driver picked the 2023 Hyundai IONIQ 6 as the EV of the Year Award for this year, the second model under Hyundai Motor’s standalone electric vehicle sub-brand IONIQ to claim the award after the IONIQ 5 lifted the trophy last year.

WAYS TO OVERCOME IRA 

The two IONIQ siblings have earned a slew of accolades since their launches, and their latest sales volume in the US has proved their excellency.

Hyundai Motor and Kia Corp., sister automakers under Hyundai Motor Group, together sold a monthly record of 8,105 EVs in the US in May. Their cumulative EV shipments in the country, including the IONIQ 5 and IONIQ 6, in the first five months of this year reached 29,622 units, up 8.2% from the same period last year.

The latest results allay concerns that the Korean auto giant Hyundai Motor Group would take a big hit from the US Inflation Reduction Act (IRA) that excludes the Korean auto giant’s EVs from its generous tax credits of up to $7,500 only for EVs assembled in North America and equipped with batteries manufactured on its soil.

Hyundai Motor and Kia build their EVs mostly in Korea and export them to overseas markets including the US.  

But if they sell their EVs to leasing companies in the US, their EVs are eligible for the IRA tax credit.

Under the IRA guidance rules, commercial vehicle regulations for the clean vehicles credit allow leasing companies to claim the tax credit for EVs they purchase to lease to consumers. Clean vehicles are defined as fully electric, plug-in hybrid and fuel-cell electric cars, trucks and SUVs.

Coupled with this commercial vehicle rule, the many accolades Hyundai Motor Group’s EVs have received since their launches are expected to help them maintain momentum in the US for a while.

Kia’s EV 6 GT and the Genesis Electrified GV 70 by Hyundai Motor’s luxury marque Genesis were also among the candidates for this year's Car and Driver’s EV of the Year Award.

Kia also pins high hopes on its all-electric three-row SUV EV 9 that hit the market early this year.

Hyundai Motor Group came second in the first quarter of last year in the US eco-friendly car market after industry giant Tesla. 

The Hyundai IONIQ 6, built on Hyundai's EV dedicated platform E-GMP, was released at home in the second half of last year and then hit the US market in March this year. 

Write to Nan-Sae Bin at binthere@hankyung.com

Sookyung Seo edited this article.