Hyundai Unveils IONIQ 7: A New Full-Sized Electric SUV for Global Market
NEW HYUNDAI IONIQ 7 made world debut at 2024 PARIS MOTOR SHOW. The South Korean car maker has publicly launched its long-awaited IONIQ 7, a full-sized electric SUV at the latest edition of the 2024 Paris Motor Show. The IONIQ 7 model is part of Hyundai’s electric car sub-brand, IONIQ, and aims to produce a luxurious EV experience with an expected 373-mile driving range and an 18-minute 80% charge time.
This new electric SUV aims to cater to both families and eco-conscious consumers who seek a spacious, high-tech vehicle without compromising on sustainability. Hyundai is positioning the IONIQ 7 to compete with other electric SUVs in the market such as the Tesla Model X and Rivian R1S.
Electric Vehicle Market Size
According to Precedence Research’s report on the global electric vehicle market size is worth around USD 317.26 billion in 2024, grew to USD USD 393.42 billion in 2025, and is predicted to cross USD 2108.80 billion by 2033. The EV market is representing double-digit CAGR of 23.42% between 2024 and 2034.
Major Features of the Hyundai IONIQ 7 EV SUV:
- Battery and Range: The IONIQ 7 is powered by a 100 kWh battery, providing a range of 600 kilometers on a single charge.
- Charging Speed: It supports 800V charging architecture, allowing it to charge from 10% to 80% in 18 minutes when using a high-power DC fast charger.
- Autonomous Driving: The vehicle comes equipped with Level 3 autonomous driving capabilities, enabling hands-free driving in certain conditions.
- Interior: The IONIQ 7 offers a spacious interior with 7 seats, advanced connectivity features, and a panoramic sunroof powered by solar panels.
The IONIQ 7 is completely new and has been released at a period where the worldwide market for electric SUVs is rapidly expanding. A Statista published report has estimated that the global electric SUV market which was at 2.5 million in 2023 grow and cross 14 million by 2030 due to the rising need for zero-emission vehicles, the development of better batteries, and emission control norms.
Global Electric SUV Market Growth (2023–2030)
| Year | Electric SUV Sales (Million Units) | Share of Total SUV Sales (%) | Growth Rate (%) |
| 2023 | 2.5 | 12 | — |
| 2024 (Est.) | 3.4 | 16 | 36 |
| 2025 (Est.) | 5.1 | 24 | 50 |
| 2026 (Est.) | 7.5 | 32 | 47 |
| 2030 (Est.) | 14.0 | 55 | — |
Battery Technology and Sustainability
Hyundai is heavily investing in sustainable solutions as part of its “Strategy 2025”, which focuses on electrification and green mobility. The IONIQ 7 is equipped with a lithium-ion battery that uses recycled materials and is produced with minimal carbon footprint. By 2027, Hyundai plans to offer 23 electric models, contributing to its goal of achieving carbon neutrality by 2045.
- Battery Recycling: Hyundai has partnered with LG Energy Solution to establish a battery recycling program, ensuring that up to 80% of used EV batteries are repurposed or recycled.
- Sustainable Materials: The interior of the IONIQ 7 features materials like bio-leather, recycled plastics, and eco-friendly fabric, aligning with Hyundai’s commitment to reducing the use of conventional materials.
Comparison of Battery Types in Electric Vehicles (2024)
| Battery Type | Energy Density (Wh/kg) | Recycling Efficiency (%) | Production Cost (USD/kWh) |
| Lithium-ion (IONIQ 7) | 250 | 80 | 120 |
| Solid-state | 400 | 70 | 300 |
| Nickel-Cobalt-Aluminum | 270 | 75 | 150 |
Governments across the globe are encouraging electric cars by providing rebates in the electric SUV to make them cheaper to consumers. In the United States, the Inflation Reduction Act provides up to $7,500 in tax credits for eligible electric vehicles. The European Union also offers incentives through its Green Deal, with subsidies for zero-emission vehicles and infrastructure development.
EV Incentives for Electric SUVs (2024)
| Region | Purchase Incentive (USD) | Tax Credits (USD) | Charging Infrastructure Support |
| United States | $7,500 | $7,500 | $5 billion investment in charging |
| European Union | $8,000 | $5,000 | 1 million charging points by 2025 |
| China | $9,000 | $6,500 | Fast expansion of charging networks |
| South Korea | $7,000 | $4,500 | Support for EV manufacturing |
The market for electric vehicles around the world is believed to remain stable as several automotive producers look to increase the number of electric vehicles in their lineup, such as Hyundai has done with their new Ioniq model. The IONIQ 7 model is expected to be a major product for the company in the future taking into consideration the rising trend of going for electric SUVs in Europe, North America, and Asian markets. Global new car registrations of electric vehicles are expected to reach 55% by 2030 and among them, electric SUVs are anticipated have a significant market share. The prospects for such electric vehicles as the IONIQ 7 are promising because as batteries get better and charging networks develop, such vehicles able to reach consumers at even higher levels.
Aditi, a powerhouse in the world of market research with over 14 years of experience, driving insightful narratives for the rapidly evolving electric vehicle (EV) industry. With a sharp eye for detail and an innate ability to decode trends across multiple sectors, Aditi is more than just an expert—she's a trendsetter. Her special interest in the ICT and automotive industries, combined with cross-domain expertise, allows her to approach EV news from a fresh, multifaceted perspective.
Aditi’s writing doesn’t just inform, it engages. She brings the technical world of EVs to life with clarity and vision, making complex trends digestible for professionals and curious readers alike. Her years of market research mean she’s always one step ahead, identifying the hidden shifts that shape the future of mobility. Whether it's the latest technological breakthroughs in battery innovation, or the impact of ICT developments on the automotive supply chain, Aditi ensures her readers are never in the dark.
