As such it is going to be the first model of any manufacturer ever to offer three different powertrain options in a single body which has been made possible by the newly designed basic platform, purposefully developed in order to enable multi-powertrain options. While in its fully electric configuration, Ioniq is powered by an efficient high-capacity lithium ion battery, the plug-in hybrid version combines the electricity from the battery with electricity produced while driving, and the power of the electric motor with the power of its petrol engine. The hybrid version utilizes a petrol engine and an electric motor.

The name Ioniq derives from "ion" which is an electrically-charged atom, making reference to the car's electric powertrain combinations. The second part of the name references the word "unique" which signifies the unique offering it brings to the Hyundai model range. The letter "Q" also found its place in the car's logo, and supposedly stands for the fresh approach to the advanced model featuring low- or zero-emissions.

A global launch is set for January in Korea, followed by public unveiling at auto shows in Geneva and New York in March.