Hyundai's N division is working on a cheaper performance EV

Hot electric-powered Hyundais remain a six-figure proposition in 2026, but the Korean auto brand's N division is busy developing a cheaper high-performance electric vehicle (EV) for the masses.

While not confirmed, the entry-level electric N model is rumoured to be a go-fast version of the recently revealed Ioniq 3 hatch, with its powertrain possibly sourced from the similarly sized Kia EV4 GT.

Launched in its home market alongside the smaller EV3 GT and larger EV5 GT electric SUVs, the EV4 GT for Korea features the same 215kW/468Nm dual-motor electric drivetrain as the EV4 GT Hatch revealed for Europe, fed by an 81.4kWh lithium-ion battery.

While not detailed for the Korean sedan, the EV4 GT Hatch is claimed to deliver a 0-100km/h sprint time of 5.6 seconds.

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Meanwhile, the standard Ioniq 3 features a single-motor front-wheel drive powertrain producing up to 107.8kW of power and 250Nm of torque, making it good for a claimed 0-100km/h sprint time of around nine seconds.

"More accessible [EVs] is something we've always been working on in the background for N. It's certainly front of mind," Hyundai Australia product development manager Tim Rodgers told CarExpert.

"How that looks exactly, and if Ioniq 3 is involved, I can't really talk too much about."

The first Hyundai EV to wear N badging was the Ioniq 5 N, which debuted in 2023 and currently commands a price tag of $115,000 before on-road costs in Australia. The Ioniq 6 N sedan has just arrived in showrooms with an identical asking price.

Both are priced well above mainstream rivals such as the Tesla Model Y Performance ($89,400 plus on-roads), Tesla Model 3 Performance ($80,900 plus ORCs), and BYD Seal Performance ($61,990 plus ORCs), limiting their audience.

However, an N version of the Ioniq 3 or something similar would likely land at a far more competitive price point.

As such, the project is a top priority for Hyundai, especially given the combustion-powered i20 N and i30 N will disappear from Australian showrooms next year, leaving a gap at the affordable end of Hyundai's N range.

"Certainly, the bulk of our N business is at that accessible end of the market, and we're very cognisant that we might not have enough there, and we want more, especially in Australia," affirmed Mr Rodgers.

"So, we're lucky we've still got it, but globally there's a push to ensure that we retain it. How that looks, I can't exactly say."

From its launch in 2018 to the end of March 2026, the N sub-brand has generated over 21,000 sales for Hyundai in Australia, with the i20 N and i30 N (Hatch, Sedan and Fastback) accounting for the lion's share at 19,445 deliveries.

Just 311 examples of the dearer, battery-powered Ioniq 5 N have found a home over the same period, although it was only made available in 2024.

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