Making performance more accessible, a new trim of the Hyundai Ioniq 5 N has landed in Korea with a lower price tag but no major compromises. Badged the Ioniq 5 N Essential, it holds onto the performance hardware and most of the high-end features, proving that an entry-level model doesn’t always mean stripped-down basics.

Same Look, Same Presence

Visually, the Essential is indistinguishable from the standard N. It wears the full body kit, full-LED lighting, and 21-inch forged alloys, so anyone hoping for bare steel wheels is out of luck. Step inside and the cabin follows the same script, complete with dual 12.3-inch displays, sports seats, leather steering wheel, dual-zone climate control, and an eight-speaker Bose premium system fitted as standard.

More: Hyundai’s Pickup Plan Could Also Unleash A Rugged Off-Road SUV

Where the Essential trims back is in smaller conveniences. There’s no head-up display, wireless charging pad, or V2L connector, and the spec sheet also skips the digital key, second-row safety power windows, and the intelligent front lighting system. Even the driver assistance package has been simplified, though it still remains broadly equipped for everyday use.

No Change Under the Skin

Unsurprisingly, the underpinnings of the Ioniq 5 N remain unchanged. The two electric motors generate a combined 601 hp (448 kW / 609 PS) and there is a limited slip differential on the rear axle, while the battery pack has a capacity of 84 kWh. Furthermore, the performance EV retains all of the goodies that make it special, such as the N e-Shift, N Launch Control, N Pedal, N Drift Optimizer Pro, N Torque Distribution, and N Active Sound +.

Pricing Advantage

So what does the more attainable N actually cost? Factoring in local incentives, the Essential comes in at ₩74,900,000 ($53,700) in Korea, compared with ₩77,400,000 ($55,500) for the regular version. That translates to a saving of ₩2,500,000 ($1,800) while keeping the same visual impact and performance. For comparison, the sole US-market trim of the Ioniq 5 N currently starts at $66,200.

More: Veloster’s Reincarnation Could Arrive As An Ioniq 3 N Hot Hatch

Hyundai has also updated the Comfort Plus package, priced at ₩590,000 ($420), which now includes heated rear seats, window curtains, and an electrically folding rear bench. Buyers can also add Parking Assist Lite for ₩900,000 ($650), though this option excludes remote parking. Other extras include a protective film for ₩380,000 ($270), an Alcantara interior for ₩550,000 ($400), and a Walk-in Interior package at ₩300,000 ($350).

The Korean brand’s N lineup is expected to grow in the future with electric and combustion-powered models. After the recent debut of the Ioniq 6 N sedan, Hyundai has all but confirmed a smaller Ioniq 3 N hot hatch and a new generation of the i20 N with hybrid power.

Hyundai has used their investor event to unveil a future product roadmap and a “2030 Vision.” It calls for an assortment of new models including range-extended electric vehicles.

Starting stateside, Hyundai announced plans to launch its first body-on-frame mid-size truck in North America by 2030. It will challenge the Chevrolet Colorado, GMC Canyon, Ford Ranger, Nissan Frontier, Toyota Tacoma, and the reborn Ram Dakota.

More: Americans Love Trucks, Except Ones From Hyundai

The company has high hopes for the pickup as they noted it targets “one of the largest segments in the industry.” Hyundai added they have “gained valuable experience and brand presence” since launching the compact unibody Santa Cruz in 2021. CEO Jose Munoz even hinted that a rugged, off-road SUV could join the lineup built on the same platform.

More N Models And Hybrids

Hyundai’s N lineup will expand to more than seven models by 2030, including the all-new Ioniq 6 N. The company believes the move will increase global N sales to over 100,000 units annually.

Hyundai will also expand its hybrid lineup to include more than 18 models by 2030. They’ll also embrace commercial vehicles in North America by offering a large electrified van as well as the XCIENT fuel cell truck and Translead trailers.

Lots Of New EVs

Baldauf / Carscoops

Hyundai bet big on EVs and even more are on the horizon, including an entry-level Ioniq 3 for Europe. The model was recently previewed by a concept and will be a mass-market vehicle with a next-generation infotainment system.

Sticking with international markets, India will get its first locally designed EV, while China gets a new C-segment electric sedan. The latter will be joined by the recently unveiled Elexio SUV.

The automaker is also gearing up to launch its first range-extended electric vehicles in 2027. They’ll offer more than 600 miles (966 km) of combined range as well as high-performance batteries that were developed in-house. Hyundai said they’ll have “full EV power performance with less than half the battery capacity, improving accessibility while maintaining exceptional range and performance, and eliminating range anxiety.”

Speaking of EVs, Hyundai noted a cloud-based battery management system is coming in 2026. It promises to “collect data from diverse vehicle environments, applying proprietary advanced modeling for faster, more precise diagnostics.”

We can also expect next-generation batteries that will arrive by 2027. These are said to be 30% cheaper despite having a 15% higher energy density. Charging times will also drop by 15%, making ownership more convenient.

Hyundai is also developing next-generation fuel cell systems for commercial vehicles. These promise to have “high efficiency, durability and power output to meet the demands of future mobility.”

Genesis Gets Some Love

On the luxury side of the equation, the Genesis lineup will expand to include hybrid, electric, and range-extended vehicles. The first hybrid will arrive next year and the company said their next-generation platform will support multi-energy configurations.

Genesis is aiming to increase annual sales to 350,000 units by 2030, and they’ll achieve this by expanding their presence in the United States, Europe, Korea, China, the Middle East, and emerging markets. Speaking of Europe, the brand is planning to be in up to 20 European markets in the coming years.

In the United States, Genesis is planning to strengthen its market presence through local production and the introduction of range-extended EVs. The company also mentioned “ultra-bespoke vehicles,” hinting at possible ultra-luxury ambitions.

Company Eyes Increased Sales And More US Production

Overall, Hyundai is targeting global sales of 5.55 million vehicles by 2030. They’re banking on “significant growth” in North America, Europe, and Korea to achieve this.

Getting back to the United States, the Hyundai Metaplant in Georgia is set to increase its annual production capacity to 500,000 vehicles by 2028. The plant currently builds the Ioniq 5 and Ioniq 9, but it will eventually make hybrids as well.

Hyundai said the expansion will create 3,000 direct and indirect jobs, and involve a $2.7 billion investment over three years. The company also aims to produce more than 80% of vehicles sold in the United States domestically by 2030, with supply chain content increasing from 60% to 80%.

The buzz around Hyundai’s performance EVs is growing, and while the electric Ioniq 5 N has impressed critics, its steep price tag keeps it from being the natural successor to the popular i30 N hot hatch, which disappeared from Europe under tighter emissions rules That gap in the lineup could soon be filled by the smaller Ioniq 3, though Hyundai has reportedly considered badging it as the 2 or even the 4.

More: Hyundai’s Smallest Ioniq Looks Like A Veloster From Outer Space

The sporty hatchback was previewed in Munich this week with the Hyundai Concept Three, a show car with a playful, offbeat character that called to mind a modern Veloster reimagined for the electric era, though Hyundai downplayed the resemblance and described it simply as a compact hatchback.

Could Hyundai Build an Ioniq 3 N?

Hints about a performance-focused Ioniq 3 have already come from within the company. Xavier Martinet, President and CEO of Hyundai Motor Europe, suggested the idea is under serious consideration, telling Auto Express: “The concept is quite sporty, and obviously you have heritage with N brand. I think it’s a fair topic to consider.”

At the same time, the hot hatch project has yet to receive official approval. Martinet acknowledged the uncertainty around demand, noting, “The question is always if there is customer demand? Is there a market? How do you make your car the one that customers want to buy? Generating its emotions is fundamental.”

Photos Stefan Baldauf & Guido ten Brink

Simon Loasby, Hyundai’s head of styling, addressed why the concept car carried no N branding. “It is an opportunity. We’re not calling it N, it’s not approved yet. But I think everyone in the company is realizing what Europe needs, and that’s compact hot hatches, so it’s a topic for discussion.”

What the Production Model Will Look Like

The new Ioniq 3 (or whatever Hyundai calls it) is expected to arrive in mid-2026, serving as the electric equivalent of the aging i30. Recent spy shots suggest that the production EV will adopt a sleek hatchback silhouette with a sloping roofline. Unlike the Concept Three that features a Veloster-inspired asymmetrical door layout, the Ioniq 3 will have a more conventional five-door body.

More: Hyundai Is Giving Its N Cars A Big Powertrain Shakeup And One Loses A Manual

For now, the concept makes a striking impression with its wide fenders, splitter, transparent ducktail spoiler, and a diffuser housing speakers styled to look like twin exhaust tips, which it doesn’t have, of course. A slightly toned down version of this aggressive look could suit a potential Ioniq 3 N, especially if paired with a dual-motor setup and chassis tuned for handling.

Photos Stefan Baldauf & Guido ten Brink

When Could It Arrive?

If approved, the Hyundai Ioniq 3 N could arrive around 2027, joining the existing Ioniq 5 N and Ioniq 6 N. The company has also confirmed that it is working on a new generation of the i20 N hatchback with a hybrid powertrain, and a new Elantra N sedan with a gasoline engine.

Of course, Hyundai won’t be alone in the electric hot hatch market. The upcoming VW ID. Polo GTI will compete with the Peugeot 208 GTi, Alpine A290, and Mini JCW Electric in the subcompact segment. Still, an updated version of the larger VW ID.3 GTX that will likely adopt the GTI moniker sounds like a more fitting rival to the Hyundai Ioniq 3 N.

Photos Stefan Baldauf & Guido ten Brink

A hot new version of the Genesis GV60 is just around the corner, thanks to the company’s new Magma division. While it’ll share a lot of its components with the Hyundai Ioniq 5 N and Kia EV6 GT, Genesis insists that the spicy EV will have a character all to its own, thanks in part to some trick software.

The new GV60 Magma has been developed in Korea, but moving forward, all other Magma cars will be developed and tuned by the Hyundai Motor Europe Technical Center near Frankfurt, Germany. Tyrone Johnson is heading up this facility, and given that he played a pivotal role in the creation of the last Ford Focus RS, he’s the perfect man for the job.

Read: Genesis Says Its New Hybrids Will Surprise You

While recently speaking with Top Gear, Johnson noted that Magma models developed in Germany will start to hit the market in 2027, including versions based on the GV80 and G80. He also acknowledged that Magma’s electric models will be designed as more sophisticated and luxurious than the Hyundai Ioniq 5 N.

“N is ‘corner rascal,’” he said. “A Magma isn’t about the track, although it will be track capable. It’s a more sophisticated, luxurious driving machine. It has to be about power, and changes to motors and engines are important. But it doesn’t have to be the most powerful [in its class]. It needs sufficient power. Weight is always important. It’s independent of luxury. You have to have weight in focus, partly because range is important and you get diminishing returns with a larger, heavier battery.”

The Software Revolution

Johnson added that throughout most of his 40-year career in the automotive industry, separating one car from another “was all mechanical engineering.” Now he said, “it’s all software,” adding that it is now possible to “fundamentally change a car with software.” Presumably, this means the GV60 Magma, as well as other Magma products, will have different software to vehicles from Hyundai’s N division, giving them unique driving characteristics.

In all likelihood, the GV60 Magma will feature the same dual electric motors and 84 kWh battery pack as the Ioniq 5 N. As such, it should pump out more than 600 hp, and be capable of hitting 62 mph (100 km/h) in the low-3-second range.