Hyundai IONIQ 7 electric SUV due 2024, powered by SK Innovation Co batteries
A teaser image of the future of the IONIQ range. We’ve lightened the image to provide a better look. Image: Hyundai
We seem to be covering Hyundai’s IONIQ range non-stop these days (no bad thing). The IONIQ 5 is on-sale in Europe, Asia and New Zealand, and about to open for customer orders in Australia. Hyundai’s IONIQ 6 sedan has been delayed this week; pushed back to mid-2022 due to changes to the battery system and a redesign according to reports.
To round out the week, we have news from The Korean Economic Daily that SK Innovation Co. has been chosen to supply batteries to Hyundai for the 2024 IONIQ 7 full-size SUV. Based on the modular E-GMP platform, the IONIQ 7 is set to come in two and four wheel drive configurations, and from the official Hyundai images and the rendering below, melds interesting elements of traditional SUV design with a hint of futurism.
SK Innovation Co currently supplies battery systems for the IONIQ 5 and Kia EV6 models. Strong sales of the former have boosted SK Innovation Co’s profitability and battery supply, with 12,484 units sold in the Korean domestic market, and 18,966 sold abroad.
An IONIQ 7 rendering from TopElectricSUV.com
The IONIQ 6 will use batteries from Korean competitor LG Energy Solution Ltd; the battery maker has signed an memorandum of understanding with Hyundai and the Indonesian Government to partner in a new $1.1 billion USD battery plant in Indonesia. LG Energy Solution hopes to ramp production to an annual capacity of 10 GWh of cells by 2024, providing enough energy for 150,000 electric vehicle battery systems per year.
Hyundai is cleverly spreading its risk — both in terms of supply chains and development — by partnering with all the top battery makers in Korea. The IONIQ range is expected to miss out on solid-state battery technology according to industry insiders; an additional partnership exists between Samsung SDI Co and Hyundai to develop an all-solid-state battery, but that technology isn’t expected to reach commercial viability until 2027 at the earliest.
Hyundai’s IONIQ 7 is based on the modular E-GMP platform.