Hyundai unveils its first high-performance electric car

(Reuters) – Hyundai Motor (OTC:) unveiled its first high-performance electric vehicle(EV), an N sport variant of its IONIQ 5 crossover SUV.

The South Korean automaker said that the IONIQ 5 N, which will be available at its dealers in March 2024, will be followed by more electrified N models in the future.

The N brand is the company’s high-performance brand, akin to AMG for the Mercedes and the M lineup for the BMW (ETR:).

The IONIQ’s N variant will be powered by dual motors producing 641 horsepower, nearly double the output of the most powerful variant of the standard outgoing model.

Hyundai unveiled the performance EV in Los Angeles on Wednesday, ahead of the Los Angeles Auto Show opening on Friday.

Automakers such as Audi, Porsche and Tesla (NASDAQ:) have been trying to redesign traditionally efficient EVs with sporty design cues and tougher components to woe car enthusiasts who generally gravitate towards higher-performing combustion vehicles.

Rival Stellantis (NYSE:)’ also revealed a concept electric Dodge Charger last year, banking on the legacy of the almost 60-year muscle car brand pulling in EV-averse gearheads.

Hyundai expects the IONIQ 5 N to touch an electronically limited top speed of 162 mph (260.7 kmph) but did not reveal an estimate on the range offered.

The company, founded in 1967, launched the IONIQ 5 midsize crossover based on its Electric-Global Modular Platform (E-GMP) in 2021 to cash in on strong EV demand worldwide.