The electric vehicle rumor mill is buzzing, and one name keeps popping up: the Hyundai Ioniq 3. It's not officially announced, but everyone from industry insiders to hopeful buyers is talking about it. If you're in the market for a compact electric SUV and the Ioniq 5 feels a bit too large or expensive, the Ioniq 3 could be your perfect match. Let's cut through the speculation and piece together what this highly anticipated model might look like, when it could arrive, and whether it should be on your radar.

What Do We Know About the Hyundai Ioniq 3?

First things first, Hyundai hasn't released a press kit for the Ioniq 3. But we're not completely in the dark. The logic is straightforward: Hyundai's Ioniq sub-brand started with the Ioniq 5 (midsize crossover), then the Ioniq 6 (sedan), and the massive Ioniq 9 (large SUV) is confirmed. A smaller, more affordable model to slot below the Ioniq 5 is the obvious next step to complete the lineup and compete in the hottest segment of the market.

Spy shots from automotive publications like Motor1 and Carscoops have shown heavily camouflaged Hyundai test mules that don't match any current model. These prototypes are clearly smaller than the Ioniq 5, riding on a shorter wheelbase, but they retain the sharp, angular body lines that define the Ioniq family's "Parametric Dynamics" design language. It's a safe bet this is our first glimpse of the Ioniq 3.

The timeline? Most industry analysts, citing Korean automotive reports, point to a potential unveiling in late 2024 or early 2025, with sales starting later in 2025 as a 2026 model year vehicle. Hyundai's aggressive EV roadmap suggests they want to fill every niche quickly.

Ioniq 3 Expected Specs and Features

Let's talk about what really matters—the numbers and the stuff you'll use every day. Based on the platform (likely a shortened version of the E-GMP that underpins the Ioniq 5 and Kia EV6) and competitive benchmarks, here's a realistic projection.

The design will be the big draw. Imagine the pixelated LED lights and sharp creases of the Ioniq 5, but on a more compact, nimble-looking body. Interior space should be impressive thanks to the skateboard platform—no transmission tunnel means lots of legroom. I expect Hyundai to carry over the brilliant movable center console from the Ioniq 5; it's a small feature that makes the cabin feel incredibly versatile.

One feature I really hope they include is the Vehicle-to-Load (V2L) adapter. It turned my Ioniq 5 into a giant power bank for camping trips and during a brief home power outage. In a compact SUV aimed at active lifestyles, it's a killer app.

What Might Be Missing (The Compromises)

To hit a lower price, some features from the Ioniq 5 might get dialed back. The panoramic glass roof might become an option rather than standard. The premium Bose audio system? Probably reserved for higher trims. The most significant compromise will be in rear cargo space. It'll be decent for the class, but don't expect the almost-Tardis-like volume of the Ioniq 5's rear hatch.

How Will the Ioniq 3 Compare to Its Rivals?

This is where the Ioniq 3's mission becomes clear. It won't exist in a vacuum. Its success hinges on beating some established and upcoming players.

Vs. Tesla Model Y: The Model Y is the elephant in the room. The Ioniq 3's main advantage will be design freshness, potentially better build quality, and a more engaging driving experience (Hyundai's tuning is generally less robotic). Its challenge will be matching Tesla's supercharger network and its often-aggressive pricing. The Ioniq 3 needs to undercut the Model Y on price to pull buyers away.

Vs. Kia EV4: This is the sibling rivalry. The Kia EV4, expected around the same time, will share the same platform and bones. The difference will be styling (Kia's more futuristic vs. Hyundai's retro-futuristic) and tuning. Kia might skew slightly sportier, Hyundai slightly more comfort-oriented. It'll come down to which design you prefer and what deals your local dealers offer.

Vs. Volkswagen ID.4 & Ford Mustang Mach-E: These are the direct segment benchmarks. The Ioniq 3's 800V charging is a massive technical advantage over both, meaning much faster stops on road trips. Its interior tech and design are also likely to feel a generation ahead of the current ID.4. Against the Mach-E, it'll offer a different flavor—more daily practicality and efficiency vs. the Ford's muscle-car persona.

The wildcard? Chinese brands like BYD. If they enter your market with models like the BYD Atto 3, the pressure will be on Hyundai to deliver exceptional value, not just good specs.

Should You Wait for the Ioniq 3? A Buying Guide

This is the million-dollar question. Let's break it down into scenarios.

Wait for the Ioniq 3 if:

• You're not in a desperate rush to buy a car in the next 6-9 months.
• You love the Ioniq 5's style but find it too big or too expensive.
• Ultra-fast charging is a top priority for your long-distance travel.
• You want the latest EV technology and are willing to pay near the start of a model's lifecycle.

Buy something else now if:

• Your current car is dying, and you need a replacement immediately.
• You find a fantastic deal on a current model (like a discounted 2024 Ioniq 5, a lease deal on an ID.4, or inventory-clearance Model Y). The savings could outweigh the "newness" of the Ioniq 3.
• You absolutely need maximum cargo space; a current Ioniq 5 or a Model Y will serve you better.

My personal strategy? If I were in the market today, I'd test-drive the current Ioniq 5 and Kia EV6 to see if the size and price work. If they don't, and I could manage with my current car for another year, I'd wait. The first model year of any new car can have quirks, but Hyundai has been relatively solid with its E-GMP rollouts.