A new Hyundai EV is priced at $14,820, and it won’t be coming to the United States. Of course.
Hyundai’s Chinese team has revealed the Ioniq V, which has a starting price of 99,900 yuan ($14,820) in China. It opened for pre-sales at the Chengdu Auto Show back in August and is now officially on sale.
This is Hyundai’s first Ioniq for the Chinese market, following the line’s introduction to China earlier this year. It’s a 16-foot-long fastback sedan with a single motor that provides 188 horsepower and 800-volt fast charging.
The lithium iron phosphate batteries come from CATL (yes, the same one that Ford uses). Hyundai is offering both 53.48 kWh and 66.85 kW. The first gives the Ioniq V around 336 miles of range, while the larger battery brings that to 404 miles.
Despite its super low price, the Hyundai Ioniq V has a high-tech cabin with a 27-inch 4K screen, a head-up display option, and a Qualcomm Snapdragon 8295P chip. There is even voice control and driver assistance, including highway navigation assistance and parking assistance.
If this goes well, Hyundai is hoping to produce 500,000 vehicles for China by 2030. This includes 20 new electric vehicles over the next five years.
Why won’t America get this Hyundai?
It’s no secret that the Trump Administration is trying to remove all foreign vehicles from the U.S. automotive market. The tariffs that even vehicles made in Canada may face have continued to shape the market. The main target, however, is China.
Despite all of the added costs and restrictions, Hyundai is still in the American market. In fact, Hyundai has seen rapid growth in the United States as of 2026.
“My top three priorities are U-S-A,” CEO José Muñoz told CNBC during an interview. “USA is helping us to really make good progress, not only in the most important market and the most competitive market in the world, but also elsewhere.”
Part of this growth is due to Hyundai’s $26 billion investment plan focused on its Metaplant in Georgia. The plan is to increase the plant’s capacity from 500,00 units to nearly 800,000 units by 2028. This is the assembly plant where Hyundai currently produces the Ioniq 6 and Ioniq 9, as well as the Kia Sportage hybrid. Hyundai wants to accelerate this localization plan after Trump increased tariffs to 15% for vehicles made in South Korea.
Why is this flashy and cheap new Ioniq only made for China? It’s a vehicle made exclusively for China.
Said Li Fenggang, President at Beijing Hyundai Motor Company, in a press release: “Today, we are not just launching a new car; we are expressing our profound respect for the Chinese market and our unwavering commitment to its future. China is leading the global electrification charge, and its dynamic customers demand the best.
“IONIQ V and our new strategic vision demonstrate our resolve to meet and exceed those expectations, leveraging Chinese innovation to set new global standards in mobility.”
And honestly, it’s just too cheap to be profitable in the U.S. There would be no profit margin at all, especially after any tariffs. Even vehicles “made in the U.S.” incur tariffs on parts imported from other countries. Almost no vehicle on the planet is made 100% within the United States.
The average price of a new car in the United States is basically $50,000. We’d all go nuts for a $15,000 EV with that much style and tech, for sure. I mean, it can do more than some of the vehicles in the $60,000 range in the U.S. market. But it just wouldn’t have any benefit for Hyundai.
The cheapest vehicle we’re gonna get that offers cabin room and some advanced features is the Ford Fathom, which will be $30,000 and allegedly still look like a mid-size truck rather than a micro city car with a 60-mile range. That’s the most exciting we’re gonna get over here, folks. At least for now.
Didn’t Trump say he wanted kei cars here at least? What happened to that random thing? Ugh.
