Hyundai Motor unveiled its first purpose-built hybrid vehicle, the Ioniq, at a pre-launch viewing at its Namyang R&D Center just outside South Korea's capital city Seoul.

The new car, which will be officially launched next week, aims to take on the Toyota Prius in global markets.

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It is fitted with the company's latest 1.6 GDi 105hp petrol engine, an electric motor producing 43hp and a six-speed DCT transmission developed exclusively for hybrid vehicles. It offers fuel efficiency of 22.4 km/litre.

The Ioniq benefits from preferential tax rates in South Korea, where it will be priced between KRW22.9m and KRW27.8m (US$19,115-$23,205). 

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