The main keywords in the automotive market can be divided into two categories: ‘electrification’ and ‘SUVs.’ Accordingly, this year, various automakers are expected to unveil attractive new electric SUV models.
From mainstream brand models priced around 50 million won to premium electric SUVs exceeding 100 million won, significant new models plan to target the market.
Electric vehicles priced between 10 million and 20 million won
Hyundai Motor Company will add an electric version to its compact SUV, Casper, this year. The market response to Kia’s Ray EV, which has captivated ‘3040’ office workers, raises expectations for the success of the Casper EV.
Casper features a high ground clearance SUV style, capable of light off-road driving. Additionally, it is expected to broaden the urban EV segment through various lifestyle-oriented accessories. Meanwhile, Kia will target emerging markets like India with a shared platform for the Casper EV and a new model tentatively named EV1.
Electric vehicles priced between 30 million and 40 million won
Models in the higher B-C segment are also grabbing attention. Kia will introduce a small electric SUV that will serve as the entry model in its EV series, named EV3. Utilizing a front-wheel drive-based electric vehicle platform, it is expected to offer spacious second-row seating and a considerable driving range compared to the existing Niro EV. The dimensions of EV3 will be similar to the current Seltos, garnering attention as a new player to lead the popularization of electric vehicles at a reasonable price.
KGM plans to develop an electric pickup truck based on the Torres EVX electric SUV and introduce it this year. Given the absence of electric pickup trucks in the market, this represents a unique opportunity to enter a new segment. The powertrain will be the same as that of the Torres EVX. Equipped with BYD’s LFP batteries, it is anticipated to secure safety while being competitively priced.
Among imported brands, the Volvo EX30 currently undergoing pre-order is a notable example.
EX30 is expected to attract significant interest with a competitive starting price of around 40 million won, similar to domestic brands. It boasts a maximum output of 272 horsepower and a generous driving range of 475 km based on the WLTP standard, making it a strong contender against domestic small electric SUVs like Hyundai Kona Electric and Kia Niro EV.
Electric vehicles priced between 50 million and 60 million won
The electric vehicle market in the 50 to 60 million won range, featuring models like the Hyundai Ioniq 5, Kia EV6, Volkswagen ID.4, and Tesla Model Y, is one of the most competitive segments. This year, Chevrolet will introduce a new player, the Equinox EV, a mid-size electric SUV with generous living space. While the Ioniq 5 straddles the line between hatchback and SUV, the Equinox EV will firmly position itself as a traditional SUV to capture market share.
The Ioniq 5 and EV6 will also undergo a facelift this year, refreshing their exterior and interior designs to boost their appeal. In addition, the Polestar 2, which received a facelift last year, is expected to widen its appeal among customers considering domestic brand options, with a price point around 50 million won. Notably, the Polestar 2 has recently shifted its drive system from front-wheel to rear-wheel drive, increasing the single motor output from 231 to 299 horsepower, and from 408 to 421 horsepower for the dual motor.
Electric vehicles priced between 70 million and 100 million won
New models in the E-F segment among mainstream brands are also drawing attention. This year, the Hyundai Ioniq 7 is one of the key models. It is expected to debut with a size similar to the current Palisade, sharing the platform and powertrain with the Kia EV9, which was introduced last year, and features smooth styling that resembles an MPV with a 7-seat configuration using a third-row seat.
American premium brand Cadillac will showcase its mid-size electric SUV, Lyriq, in South Korea this first half of the year, challenging the European brand-focused electric SUV market. With an almost 5-meter long body, it offers generous living space, and is expected to achieve a driving range of around 400 km when paired with GM’s new Ultium platform and 100kWh battery pack.
The E-segment electric sedan market is also noteworthy. The Mercedes-Benz EQE sedan and the BMW i5 are prime examples. The strategies of the two brands are vastly different. For instance, Mercedes uses a dedicated EV platform to present a completely distinct model from the existing E-Class, while BMW launched the i5, an EV version based on the new 5-Series platform. This year, Audi is also set to reveal its new electric sedan, the A6 e-tron, which will likely intensify the competition in the E-segment electric sedan market.
Premium electric cars priced over 100 million won
The EV market, primarily focused on premium brands, also anticipates a variety of new models appearing. Firstly, among mid-size SUVs in the D-segment, the Porsche Macan Electric and Maserati Grecale Folgore are drawing consumer interest. The Macan is the first beneficiary of Volkswagen’s new PPE platform and is the brand’s first electric SUV, with outputs of 639 horsepower for the Macan Turbo and 408 horsepower for the Macan 4. Supporting 270 kW rapid charging, the range per charge is expected to be 591 km for the Macan Turbo and 613 km for the Macan 4 based on WLTP standards.
The Grecale Folgore is also a mid-size electric SUV with a similar build, although detailed performance specifications have yet to be revealed. It is expected to feature outputs in the range of 500 horsepower and a driving range around 400 km. This vehicle will also serve as Maserati’s first electric SUV, expanding the brand’s offerings while fulfilling the entry role previously held by the Ghibli.
Among the ‘heavyweight’ models in the E-segment and above, the Mercedes-Maybach EQS SUV, Land Rover Range Rover Electric, Volvo EX90, and Lotus Eletra are generating considerable attention.
The Mercedes-Maybach EQS SUV stands out as a luxury SUV bearing the ‘Maybach’ badge for the first time in the EQ lineup, enhancing the luxury experience with exclusive napa leather seats and eco-friendly vegetable-tanned leather derived from sustainable processes. The focus on an 11.6-inch full HD display’s MBUX high-end rear-seat entertainment system and the Burmester 4D surround sound system with 15 speakers are also noteworthy.
The Land Rover Range Rover Electric, unveiled globally at the end of last year, will be the brand’s first electric SUV. Built on the same MLB platform as the regular Range Rover, it will feature an 800V electrical system targeting a new market. With an impressive water fording capability of up to 850mm, the Range Rover Electric aims to ensure off-road performance comparable to the standard Range Rover.
Volvo is expected to release the pinnacle of its EX lineup, the EX90, later this year. This seven-seat electric SUV resembles the XC90 in size, promising robust safety features and outfitted with LiDAR for a Level 3 autonomous driving system. Its interior will highlight sustainable materials, showcasing the direction of premium brands in the future.
The Lotus Eletra, the brand’s first electric SUV, is set to be the highest-performance model available in the market. The top-spec Eletra R delivers an astounding 918 horsepower, embodying the term ‘hyper SUV’. It can accelerate from 0 to 100 km/h in just 2.95 seconds; despite its impressive length of over 5.1 meters, it maintains a drag coefficient of just 0.26cd—demonstrating the brand’s motorsports DNA.
The Eletra’s autonomous driving technology is among the most innovative in new vehicles debuting this year. With four LiDAR units, six radars, and seven HD cameras, it is fully equipped for 100% autonomous driving. Furthermore, the vehicle features an 800V system and 350 kW ultra-rapid charging, allowing a charge from 10% to 80% in just 20 minutes, significantly alleviating consumer concerns about electric vehicle charging times. With a battery capacity of 112kWh, the WLTP driving range is expected to be 600km for the Eletra S and 490km for the Eletra R, easily accommodating long drives.
The interior configuration of these premium luxury brands is also striking. The high-end leather materials cover every touchpoint, enhancing luxury with meticulous metal accents. Notably, the 15.1-inch OLED display at the center console features excellent picture quality while maintaining a slim profile with just a 10mm thickness. Additionally, the KEF premium surround audio system, comprising 23 speakers, delivers an impressive output of 2,160W, providing passengers with an unparalleled musical experience.
In addition to these SUVs, the high-performance electric sedan market also garners significant interest. This year, the face-lifted Porsche Taycan and Lotus’s first hyper electric sedan, Emeya, set up an intriguing matchup. The Taycan recently set a new lap time at the ‘Green Hell’ of Germany’s Nürburgring Nordschleife, raising expectations. While detailed performance specifications are still under wraps, further improvements in driving performance are anticipated.
The Emeya boasts robust performance specifications befitting its title as ‘the greatest 4-door GT of its time.’ It combines Lotus’s 75 years of engineering experience, motorsports DNA, and innovative electric powertrain technology into a next-generation model.
With an output in the 900 horsepower range, it can accelerate from 0 to 100 km/h in just 2.8 seconds, and the air suspension, which senses the road 1,000 times per second, guarantees a comfortable ride in this flagship sedan. The Emeya also supports the same 350 kW ultra-rapid charging as the Eletra, completing a charge from 10% to 80% in just 18 minutes. In the interior, high-quality leather materials, as well as PVD aluminum and UltraFabric PU, are extensively applied, along with a 15.1-inch OLED display boasting excellent picture quality.
Lee Sang-jin daedusj@autodiary.kr