Hyundai to release new low cost EV that could join sub-$40,000 club in Australia

Hyundai has confirmed the imminent release of their smallest and most affordable electric vehicle, which will be called Inster and which will begin production for the European market next month.

The Inster, which is based on the Hyundai Casper pictured above, a petrol vehicle sold in Korea only, will have a price target of around €20,000 in Europe, which is roughly $33,000 converted to Australian dollars.

When asked about plans for launching Inster in Australia, Hyundai could not provide any more information apart from saying they are working with Hyundai Motor Company Australia (HMCA) at this stage.

If Hyundai could bring the Inster to Australia at a similar price point it should be competitive with EVs starting at or below the $40,000 mark such as the MG4, MG ZS EV, BYD Dolphin, GWM Ora, and newly discounted Nissan Leaf.

It would also give buyers another affordable electric SUV choice besides the MG ZS EV, BYD Atto 3 and upcoming Chery Omoda E5.

During a media exclusive attended by The Driven, Hyundai also confirmed that long range Inster variants will have a projected range of up to 355 km under European WLTP testing, while a smaller standard range battery pack offers 300 km of range. 

A range of 355 km puts the Inster in the same ballpark as most entry level variants of the other electric vehicles mentioned above, although it is less than extended range or premium variants of those same vehicles which offer over 400 km range and cost closer to or above $50,000.

Size wise, the petrol Casper measures just under 3.6 m long, 1.6 m wide and 1.6 m high with a 2.4 m wheelbase. However, overseas reports and some early spy shots estimate the Inster will be as much as 250 mm longer which should provide more interior space and comfort for passengers.

These dimensions put the Inster into the A-segment category in terms of the European passenger car classification, otherwise known as city cars or sub-compact. Despite its compact size, Hyundai says Inster will have the versatility and practicality of a larger B-segment car. 

According to Hyundai, the Inster name stands for intimate and innovative. The Casper interior has several innovative features that are expected to carry over to the Inster, such as the ability to fold all seats including the driver’s completely flat for camping or carrying large items.

During the briefing, Hyundai went into further details of the Inster name and explained why it won’t be called Ioniq 1 for example. The Ioniq name is reserved for Hyundai EVs that are developed on dedicated electric only platforms. The Inster is based on the same K1 platform as the petrol powered Casper, Hyundai i20 and Kia Picanto.

Teaser images shared by Hyundai reveal the Inster features their pixel-graphic taillights, which is a signature design across the Hyundai EV range.

Hyundai will reveal full details for the Inster at the Busan International Mobility Show at the end of June, before production starts in South Korea for the European market. We will also keep you posted when more information about an Australian launch of this compact and innovative electric SUV is available.