Hyundai announces US$18,000 EV for sceptical Japanese market

Competition for the affordable electric vehicle (EV) segment is warming up. On 10 January 2025, Hyundai Motor announced it would introduce its most affordable model—the Hyundai Inster—to the Japanese market. Starting at JP¥2.85m (US$18,025), the vehicle will mark the lowest entry price for any compact EV in Japan. Prior to the announcement, the most affordable compact EV in Japan was BYD’s Dolphin, which comes in at JP¥3.63m.