South Korea-headquartered Hyundai Motor Company has essentially confirmed that that it will produce and sell a compact, affordable variant of the Ioniq 5 N, which garnered positive feedback following test-drives in Korea but its suggested price tag of more than $70,000 has raised doubts about its accessibility to a broader market.

Albert Biermann, Hyundai's former head of research & development (R&D) and current technical advisor, revealed in a recent interview that the Korean automaker is working on a more compact and affordable electric model to cater to a wider audience, without burning a big hole in their pockets.

Emphasizing the significance of introducing a smaller N-car EV, the technical adviser said that the development of the pocket-friendly EV aligns with customer demands as well as the brand’s commitment to diversifying its EV lineup. However, at the same time, he highlighted various challenges linked with the implementation of high-voltage systems in smaller EVs. He went on to emphasize the importance of technological adaptation to guarantee efficient performance in such compact electric models.

Speaking about the affordable EV, he said, “That small N-car EV – that is something we have to do. Otherwise, we leave our customers in the dark. We have to come down with something smaller and more affordable. If it’s an N car, you want to go on the track – even for 15 or 20 minutes. If you go 400-volt, you double the current, four times the heat dissipation. The efficiency is bad. If you think of an i30-kind of car, 400-volt is not appropriate.”

While an affordable electric hatch is said to be in consideration for the future, the South Korean automaker is concurrently gearing up for the prospective release of a high-performance version of the Hyundai Ioniq 6. Anticipated to debut prior to the smaller hot hatch, the Ioniq 6 N is expected to hit the market around 2025.

Unfortunately, Biermann didn’t disclose any specific details regarding the potential pocket-friendly EV, leaving Hyundai fans curious about the nature and prospects of this undisclosed electric model.

However, some unconfirmed reports suggest that the Ioniq 6 N will come equipped with an electric motor capable of delivering more than 641 horsepower (hp). The RN22e concept, which was showcased last year with 577 hp, serves as an initial glimpse into the vision that Hyundai has for its performance-oriented EVs. Additionally, speculation persists regarding the potential introduction of a Kona N Electric, hinting at the South Korean manufacturer’s ambition to broaden its electric performance portfolio.