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Hyundai's Ioniq sub-brand of electric vehicles is getting a life of its own.

On Sunday, the company announced it's spinning Ioniq as a new brand that's dedicated to battery-powered electric vehicles.

Over the next four years, Ioniq will launch three EV models, starting with Ioniq 5, a midsize CUV (compact SUV), in 2021. The Ioniq 5 will be based on the EV 45 concept, unveiled by Hyundai in Frankfurt last year.

The company didn't unveil too many details about the car, except that it (like all upcoming models) will be based on Hyundai's E-GMP (Electric Global Modular Platform), which should enable "fast charging capacity and plentiful driving range." In general, the new brand will place a big emphasis on "integrating in-car and out-of-car experiences for a seamless journey."

Fortunately, Ioniq won't be complicating things with odd names for its upcoming cars. The first vehicle to come after the Ioniq 5 will be the Ioniq 6 sedan, based on the company's Prophecy concept, in 2022. Finally, the Ioniq 7 SUV will be coming in early 2024.

Notably, the currently available Hyundai Ioniq EV won't be sold under the new brand.

Hyundai hopes that this new push into EVs will allow it to sell one million electric cars and grab a 10-percent share of the EV market by 2025.

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