Hyundai Motor Group has unveiled its latest innovation, the IONIQ 9, a three-row electric SUV designed to capture the family vehicle market in the rapidly growing electric vehicle (EV) sector. The IONIQ 9 was showcased during a Hyundai event in the Hollywood Hills, Los Angeles, and is set to roll out in the United States and Korea early next year, with subsequent launches planned for Europe and other markets. This move marks Hyundai's strategic push into the competitive realm of three-row EVs, targeting families that need spacious, long-range options.

The IONIQ 9, which boasts a range of over 300 miles, is priced to compete with Kia's EV9 at around $55,000, offering a more affordable option compared to premium models like Tesla's Model X and Lucid's Gravity. The vehicle will be manufactured at Hyundai's new $7.6 billion Metaplant in Georgia, a significant development in the state's emergence as an EV manufacturing hub. This plant, the largest economic development project in Georgia's history, is expected to redefine the state's industrial reputation by making it a central player in the electrification of auto travel.

Hyundai's IONIQ 9 is part of a broader strategy to expand its EV offerings, with a target of launching 23 EV models by 2030. The vehicle is designed to fill a gap in the EV market, offering a streamlined exterior and a lounge-like interior, with features such as fully reclining and swiveling seats. It is also compatible with Tesla's Supercharger network, providing logistical advantages as US EV norms evolve.

Despite challenges in the EV market, such as high prices and limited range, Hyundai is optimistic about the IONIQ 9's potential. The vehicle is expected to qualify for the $7,500 federal EV tax credits, although President-elect Donald Trump has indicated plans to eliminate these incentives. Nevertheless, Hyundai remains committed to its electrification goals, aiming to provide consumers with more choices beyond plug-in sedans and compacts.

The introduction of the IONIQ 9 comes at a time when automakers are expanding their electric vehicle models, including family haulers, despite slowing sales growth. Analysts note that while early adopters have already purchased EVs, mainstream buyers are still hesitant due to concerns about range and charging infrastructure. However, with more models arriving, buyers have more choices, and the market is expected to continue growing.