Hyundai Motor Co on Thursday launched its first electric sedan, the Ioniq 6, which the South Korean maker is betting will help it grab a larger share of the company's dominated electric vehicle (EV) market. Tesla.

According to foreign media, the Telegraph reports, the Ioniq 6 is one of more than 31 electric models that Hyundai Motor Group – including Hyundai Motor, sister company Kia Corp and premium brand Genesis – plans to introduce by 2030 to ensure a 12 projected percent of the global electric car market.

Hyundai's sedan will expand its EV lineup beyond its current crossovers and SUVs to compete head-to-head against Tesla's best-selling Model 3 sedan.

The Ioniq 6 will be priced at $41,949.

/Telegraph/