Hyundai Enters the Affordable EV Race with the New Ioniq 3

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Hyundai has pulled the wrapper off its smallest electric model yet, and it's aimed squarely at buyers who've been priced out of the EV market until now. The Ioniq 3 lands as a compact rival to cars like the Renault 5, promising real-world usability at a starting point that finally undercuts the segment's usual premium.

What You Get for the Money

The headline number is the price: Hyundai is bringing the Ioniq 3 to market at roughly £22,000, a figure that puts serious pressure on every other small EV currently on sale. For that money, buyers get a claimed range of around 208 miles on a single charge — enough for daily commuting and the occasional longer trip without constant charger anxiety.

Practicality hasn't been sacrificed for the small footprint either. The Ioniq 3 offers 441 litres of boot space, a genuinely useful number for a car in this class and one that beats several combustion-engined hatchbacks of similar size.

Two Powertrains, Four Trim Levels

Hyundai is offering the Ioniq 3 with a choice of two powertrain options, giving buyers some flexibility between range and performance depending on how the car will actually be used. The lineup is rounded out with four trim levels, so there's room to spec the car up with additional tech and comfort features or keep things simple and closer to that entry price.

Production is set to take place in Turkey, a manufacturing base Hyundai has increasingly leaned on for European-market models — a detail that should help keep logistics costs, and therefore pricing, competitive across the continent.

Why It Matters

The small EV segment has been the industry's biggest blind spot for years: plenty of manufacturers talk about "affordable electric," but few actually deliver a car under £25,000 with a range that doesn't feel like a compromise. If Hyundai holds the line on that £22k starting figure once the car reaches dealers, the Ioniq 3 could become the default recommendation for first-time EV buyers who don't need — or want to pay for — a larger SUV.

Expect rivals to respond quickly. With Renault, Kia, and other value-focused brands all circling the same price bracket, the Ioniq 3's arrival is likely just the opening move in a much bigger fight for the budget EV buyer.