Hyundai Motor's launch of its own brand for electric vehicles sent the company's stock up 15% at once, bringing it to $143 per share.
Famous South Korean automaker did not become particularly philosophic and the new brand received a simple but sonorous name - Ioniq. This is the name of the company's first hybrid car, first presented at the Geneva Motor Show in March 2016. This car has earned a lot of positive ratings and was even recognized as the safest small family car of the year. Not surprisingly, it was decided to make its name a separate brand.
The name Ioniq is compound and, according to the company, includes two words - Ion ("ion" - an electrically charged non-elementary particle) and Unique ("unique"). A characteristic feature of the spelling of this name will be the letter "Q", reminiscent of the symbol depicted on the power buttons. It can be used separately from the whole word. Hyundai hopes that the easy-to-remember name and recognizable logo will be an additional plus when promoting electric vehicles under a new brand.
The I'm in Charge advertising campaign has already been launched to promote the new brand. And the first event was the decoration of the luminous letter "Q" on the London Eye ferris wheel in London. This event was timed to coincide with the launch of this attraction, which has been idle for several months due to the pandemic.