Hyundai appears to be planning a compact counterpart to the IONIQ 5, with a 2026 launch date, promising varied powertrain configurations and competitive performance in the EV market.
Reports indicate that this model – likely the IONIQ 3 – may emerge as a smaller sibling to the celebrated IONIQ 5, a vehicle that has already made waves in the global market for electric mobility.
Speculation about the IONIQ 3 has started after a vehicle under the codename “OE” was documented in a local regulatory portal by Hyundai’s joint venture in China. The codename aligns with earlier naming conventions for other Hyundai electric models, such as the IONIQ 5 and IONIQ 6. The new vehicle is anticipated to hit the market in 2026, offering the potential for various configurations including single and dual-motor powertrains, as well as 62 or 84-kWh battery options.
Industry insiders speculate that the IONIQ 3 will share its foundation with Hyundai’s E-GMP platform, which supports several of the company’s current electric offerings, including the IONIQ 5, 6, and the recently unveiled IONIQ 9 SUV. The new SUV is likely to embody design elements consistent with the IONIQ branding, which has become synonymous with Hyundai’s electric vision.
With regards to performance, predictions suggest that the IONIQ 3 may offer a range that could compete well against existing models like the Kia EV3, which provides a WLTP range of up to 605 km (375 miles) with its larger battery option. In comparison, the smaller battery offered in the EV3 provides approximately 436 km (271 miles) on the WLTP cycle. Pricing for the Kia EV3 starts at around €36,000 ($38,300) in Europe, while in Korea, it is expected to be available for under $30,000, further incentivized through local subsidies.
Additionally, comparisons are being drawn to Hyundai’s budget-friendly Casper Electric model, priced starting from around $20,000 in Korea. The Casper offers a lesser range but is aimed at fostering affordability within the electric vehicle segment.
The launch rollout for the IONIQ 3 will probably kick off in China, with other markets, including the UAE and Saudi Arabia, awaiting confirmation on availability. However, we will need to wait for Hyundai to make official announcements before we can be sure of further details.
