The Hyundai Ioniq, fresh from its unveiling earlier this year, will be given a significant range boost in order to take on the Chevrolet Bolt and Tesla Model 3.

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Currently, the Ioniq Electric is powered by an electric motor boasting 88kW of power and 295Nm of torque, which drives the front wheels via single-speed transmission.

The Ioniq Electric features a 28kWh lithium-ion polymer battery that will reportedly have a range rating of around 200 kilometres or 124 miles according to the United States' EPA (Environmental Protection Agency).

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Ahn Byung-ki, director of Hyundai's green cars group, told Automotive News that while 200km of range was sufficient for most commuting needs, "124 [miles] is not enough, and we have a plan to extend that to more than 200 [miles] by 2018".

An updated Ioniq Electric with a range of over 320 kilometres (200mi) would compete head-to-head with the Chevrolet Bolt and the Tesla Model 3. Nissan has also said to that the next-generation Leaf will have a range of around 320km.

Deliveries of the Chevrolet Bolt to US customers begin at the tail-end of 2016, while limited production of the Tesla Model 3 is said to commence around the middle of 2017.

The Bolt has been ruled out for Australia, while the Model 3 won't arrive in Australia until 2018 at the earliest.

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Unlike the models mentioned above, the Ioniq is available with three different drivetrain types: a Prius-like hybrid, a plug-in hybrid (PHEV), and a full EV.

In March 2016, Guido Schenken, public relations manager for Hyundai Australia, told CarAdvice that "the plug-in hybrid [Ioniq is] the most appealing for us".

The plug-in hybrid Ioniq is pencilled in for a 2017 launch, though no solid timetable has been announced yet.