Hyundai's new Ioniq V is priced over $10,000 lower than the least expensive EV in the US.

      Hyundai has commenced pre-sales for the Ioniq V, a stylish mid-size sedan and the first production model from its new Ioniq sub-brand exclusive to China. The price starts at 119,900 yuan, approximately $17,600, and goes up to 139,900 yuan ($20,600) for the top-of-the-line version.

      For comparison, the most affordable EV in the US, the 2027 Chevrolet Bolt, is priced at $28,995, making the Ioniq V's highest trim over $8,000 less than the cheapest EV currently available in the US market.

      This lineup consists of three models: the 540 Max, 540 Max+, and 650 Max+, with prices varying based on range and features. All variants are fully electric and equipped with CATL’s lithium iron phosphate batteries, available in capacities of 53.5 kWh or 66.8 kWh, resulting in a CLTC estimated range of 520 to 650 kilometers depending on the trim.

      Each model supports 800-volt fast charging, a notable feature at this price. The interior boasts a large 27-inch 4K display powered by Qualcomm’s Snapdragon 8295 chip, alongside a head-up display and driver assistance technologies co-developed with Momenta for highway-level automation.

      The infotainment system incorporates two Chinese AI models—Baidu’s Ernie Bot and ByteDance’s Doubao—allowing users to interact with either assistant built into the vehicle. This reflects a growing trend among Chinese manufacturers to include multiple AI systems in their cars.

      The Ioniq V was entirely designed by Hyundai’s China Design Centre, based on the Venus Concept initially presented in April, specifically targeting China's highly competitive EV market. Hyundai aims to introduce 20 new electrified models in China over the next five years, with a goal of selling 500,000 units annually by 2030.

      The Ioniq V will officially launch in September, and Hyundai has hinted at the possibility of extending this design approach to markets outside of China. However, it remains uncertain if American consumers will experience similar pricing, particularly as Chinese automakers continue to lower EV prices more effectively than US manufacturers.

      Volkswagen has introduced the ID. Era 5S, a new sedan in China that may surprise many with its offerings and pricing. Starting at just 89,900 yuan, or about $13,400, it features a plug-in hybrid powertrain with an electric-only range of up to 160 km. This model was officially revealed at the 2026 Chengdu Auto Show and is the second sedan in Volkswagen's China-exclusive ID. Era lineup, created through the SAIC-Volkswagen joint venture, targeting the competitive market for affordable new-energy vehicles in China.

      BYD has launched the Da Han, a sedan that features luxury car specifications at a price below that of a base Tesla Model 3 in the US. With pre-sales just starting in China at under $37,000, it boasts a feature set typical of a flagship model while maintaining entry-level pricing in the US.

      In recent days, the Chinese market has seen the introduction of three sedans priced below $20,000 from Volkswagen, Hyundai, and MG, while hatchbacks are even more affordable. However, the situation is different in North America. Walking through historical cities like Paris, Milan, or Amsterdam reveals a "minicar safari," with narrow, ancient streets filled with compact electric micro-vehicles such as the $6,600 Citroën Ami. These small battery-powered vehicles navigate congested areas and fit easily into tight parking spots that full-sized sedans and SUVs could not. While the G-Wiz, which was produced in India and sold in the UK, gained popularity as a small electric vehicle, it never reached North America, despite being criticized for safety.