The EV will be sold in foreign markets under the name Inster. It will launch first in South Korea this summer, followed by Europe, the Middle East, and Asia Pacific.

The company said it has started accepting pre-orders for the long-range "Inspiration" version of the Casper Electric, which was unveiled at the Busan International Mobility Show last month.

Casper Electric will also be available in two other variants – road style variants. Pre-orders for them will also be opened sequentially, Yonhap news agency reports.

The new mini SUV is an electrified version of the gas-powered Casper that was first introduced in 2021, but gets a number of improvements.

The Inspiration variant is equipped with a 49kWh nickel-cobalt-manganese battery, which offers a driving range of up to 315 kilometers on a single charge.

The company has not unveiled exact pricing plans, but it is expected that consumers will be able to purchase the Inspiration variant for between 20 million won ($14,452) and 23 million won with EV subsidies from central and local governments.