Hyundai, the motoring giant from South Korea, has just unveiled its maiden electric car model to the world, known as the BlueOn in order to grab onto the coat tails of its Japanese rivals in this market segment. Having invested around 40 billion won ($34.3 million) over the course of one year to develop the vehicle from concept to reality, it will be based on the automaker’s small i10 hatchback. Hyundai hopes to deliver 30 BlueOns on a test basis to a range of South Korean government organizations by October, and hope to release 2,500 models by the time 2012 is over. The company has yet to discuss potential export markets at the moment, but we do hope that the BlueOn can be an option since it is perfect for intra-city driving, hitting a top speed of of 130 kph (80.6 mph), with an acceleration rate of 13.1 seconds to hit 100kph from a standstill. Range-wise, the BlueOn can run for 140 kilometers on a single charge before you need to juice up its lithium-ion polymer battery. No word on pricing, but we do hope it will be affordable enough for the masses by the time 2012 rolls around.