Hyundai unveiled its first high performance electric vehicle (EV) under its N brand, the Ioniq 5 N, hoping to establish a new niche segment within its fast growing global EV market.

As is becoming common for sporty versions of top brands (and EVs), the automaker chose the Goodwood Festival of Speed in West Sussex, England, for the global unveiling which the company said represented “a new way for high performance enthusiasts to electrify their passion for driving on road and track”.

The Ioniq 5 N combines Hyundai’s motorsport technology with its extensive electrified “rolling lab” research and development. An 84kWh battery pack drives a dual motor AWD system, providing “rally-inspired handling”. The car has a power output of 448kW/609 PS which increases to 478kW/650PS (at 21,000rpm!) when the N Grin Boost system is engaged. It has a top speed of 260km/h (160mph) and can accelerate from 0-100km/h in 3.4 seconds in boost mode.

The drivetrain’s thermal management and regenerative braking systems helping to increase endurance while the N e-Shift and N Active Sound are said to help replicate the feeling and sound experience of driving high performance internal combustion engine cars.

Hyundai said it had set the technology standards for the development of high performance versions of other N EV models which it expected would help improve the brand’s EV image and competitiveness.

President and CEO, Jaehoon Chang, said in a statement: “Key developments around this vehicle will further strengthen the competitiveness of all [future] Hyundai models. This is why N brand exists.”

Editor’s note: the launch event didn’t go quite the way Hyundai planned as an RN22e prototype crashed in spectacular fashion into hay bales after missing a corner. No injuries were reported but the car appeared to have been badly damaged.