Hyundai electric ute “a long way off”

Hyundai has dampened expectations that it will clarify its electric ute plans any time soon.

Instead, Hyundai Motor Company Australia COO John Kett has told carsales that any announcement remains “a long way off”.

And he has hinted that the introduction of a battery-electric Hyundai ute that is price and capability competitive with the diesel utes that dominate the Australian market remains a work in progress.

Kett stated in July 2023 that Hyundai’s plans to enter the booming ute segment could be clarified within 12 months.

Back then Kett called for patience as media bombarded him with questions in the wake of sister brand Kia’s confirmation that it would enter the ute segment with the Tasman from mid-2025.

Since then it has become clear that Hyundai is focussed on electric utes and it has applied to trademark two different nameplates – IONIQ T7 and IONIQ T10.

IONIQ T7 is tipped to be the name of a mid-size ute and the IONIQ T10 is expected to be larger.

Since his call for patience at various media outings, Kett’s language about the Hyundai ute has varied from relatively open and enthusiastic to guarded and non-committal.

There seems little doubt that Hyundai in Korea is keen to avoid too much public commentary on its ute plans and reminds its Australian outpost of that regularly.

Just last month Kett confirmed on the record that a Hyundai electric ute would come to Australia.

But last week he adopted a much more cautious tone.

Reminded of his 12-month estimate, he said: “There’s certainly nothing to talk about here.

“What I am saying is that we know are not operating in that segment.

“Our signalling to the market is that we want an electrified solution in that segment, and one that meets not only the emissions [standard] of that segment, but also needs to have the capability required in that segment in [terms of] price point and accessibility.

“We are still committed to that, but we are still a long way off before we make any specific announcement.”

Asked if his reference to capability and price meant Hyundai had yet to achieve key ute performance numbers like payload and towing that are competitive with diesels, Kett declined to answer.

“I don’t want to talk about it [an electric ute] as if it exists,” he said.

An electric ute roll-out would help HMCA exceed its CO2-reduction requirements in line with the 2025 New Vehicle Efficiency Standard (NVES).

But the ute market is also a huge commercial lure. It accounts for about 20 per cent of total annual new-vehicle sales in Australia and is the biggest segment Hyundai isn’t involved in locally.

Kett admitted HMCA was already watching the ute market closely as new models such as the petrol-electric plug-in hybrid BYD Shark arrive later this year.

“We are very interested in watching how that segment is developing. When we get to see the BYD ute come in, when we get to see the no doubt incredible success we’ll see from the Kia ute next year, what does it do to that segment and will it shake out some winners and losers?

“So I am fascinated in how that plays out and that certainly will give is a greater understanding of the segmentation or sub-segmentation of the ute segment.”

Join the conversation at our Facebook page
Or email us at editor@carsales.com.au