Hyundai is currently working on not just two electric vehicles that will replace the present i10 city hatchback, which will be available in 2024. Hyundai is the Korean automaker is working on as a direct replacement for the i10 in regards to body design and also an SUV-inspired crossover model based on the same foundations.

It’s not clear which platform they’ll use because Hyundai’s own E-GMP EV platform even though it’s scalable, isn’t appropriate for a vehicle similar to the iPhone (pictured). Hyundai may come up with an entirely brand new EV platform to be used in lower cost vehicles, in order to compete against other makers in Europe which have similar models in development.

The plan to launch the small electric vehicle was confirmed by Andreas Christoph Hofmann the Hyundai’s marketing director for Europe and Europe, who also revealed that the goal price of the vehicle was EUR20,000, which is currently the equivalent of about $20,600.

The latest mini EVs won’t likely arrive in North America, though, therefore they’ll likely be sold only in Europe as well as a handful of other markets. Hofmann has also stated to Automotive News Europe that Hyundai is planning to launch 11 new electric vehicles in Europe in 2030. Hofmann also said that it’s difficult for Hyundai to turn profits from tiny cars that are affordable and the possibility of developing extremely small EVs created technical issues.

The automaker is keen to remain the market leader for electric vehicles in Europe and the competition of the Volkswagen group have similar models in the pipeline. About 20 percent of the cars Hyundai was selling in Europe in the first quarter in 2022 had electric vehicles, an increase over 14.1 percentage in 2021. The company’s goal is to market 1.87-million EVs annually and have 7 percent market share in 2030.