Hyundai working on budget-friendly sub-$22,000 Casper EV

Hyundai working on budget-friendly sub-$22,000 Casper EV

In the fast-growing landscape of affordable electric vehicles (EVs) in Europe, South Korean automobile giant Hyundai Motor Company is gearing up to join the league with its forthcoming Casper EV. While the Hyundai Casper EV is still in the final stages of development, emerging media reports suggest that the eagerly anticipated battery-powered vehicle will make its debut on the roads by the end of this year. The vehicle in question was originally a compact four-door urban runabout with a gasoline engine-powered vehicle that has been manufactured in South Korea since the year of 2011. Now, it is undergoing a transformation to join the electric landscape in Europe.

Lionel Keogh, Chief executive of Hyundai France, revealed that the upcoming pint-sized Casper EV will likely be priced around 20,000 Euros (equivalent to approx. US$21,500), inclusive of VAT.

What sets the South Korean brand’s upcoming battery-powered vehicle apart, beyond its small size measuring merely 141.5 inches long, is its affordability. The aforementioned expected price of the EV will unquestionably make it accessible for a large number of prospective buyers who have been hesitating to switch from gasoline-powered vehicles to battery-powered vehicles due to hefty price tags. The anticipated low entry price of the Casper EV is attributed not only to its compact form but also to its whispered lithium iron phosphate (LFP) battery pack. The LFP battery technology is expected to offer a range between 125 and 187 miles (approx. 200-300 kilometers) on a full charge, catering to the urban commuting requirements of European city dwellers.

Expected to arrive in Europe in the third quarter (Q3) of 2024, the Hyundai Casper EV might be slightly lengthy than its combustion-powered counterpart, which would potentially enhance interior space as well. Spy shots from last year suggest that the charging port will likely be located at the front of the small car to optimize accessibility for users.

While the Casper EV is promising for European consumers seeking pocket-friendly EV options, it raises a tinge of envy for the U.S. consumers as the company has no plans to launch it in the American market. In fact, with the recent superannuation of the Chevy Bolt EV and EUV, there are currently no brand-new EV under $25,000 in the U.S. market.

Anyhow, Hyundai’s aims to disrupt the European EV market with the Casper EV, the anticipation grows for a paradigm shift towards more accessible and sustainable mobility options, setting the stage for a new era of electric mobility.

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