Hyundai, Kia and Genesis to launch 31 new electric models by 2030
Hyundai Group and its two subsidiaries are expected to launch up to 31 electric car models to strive to become the world’s third largest electric vehicle manufacturer in terms of sales by the end of the decade.
Hyundai Motor Group recently announced that it is aiming to become one of the top three electric vehicle manufacturers in the world (in terms of sales) by 2030.
The first step to achieving this is to increase production capacity on a large scale.
By 2030, Hyundai wants to increase electric vehicle production in the country of kimchi to 1.51 million units, while global production increases to 3.64 million units .
To accomplish this, Hyundai, Kia and Hyundai Mobis will invest about $18 billion in Korea’s electric vehicle sector.
These companies will spend most of the money on building research centers to develop technologies related to electric vehicles such as batteries and motors and improve range, and expand vehicle product lines. electricity.
The move is aimed at catching up with the trend of other global automakers in increasing the number of zero-emission vehicles, aiming to slow the rate of global warming.
Hyundai’s product range will also be developed to be able to launch 31 pure electric car models by 2030. These vehicles will span the Hyundai, Genesis and Kia brands.
Notably, Kia’s electric models will account for the majority. The company recently announced that it will launch 15 new electric vehicles by 2027.
In addition, Hyundai Motor Group will work to accelerate the development of next-generation platforms to enhance the performance of electric vehicles using Integrated Modular Architecture (IMA) technology.
Vehicles supported by IMA will use standardized batteries and motors, increasing development speed and efficiency. These platforms will begin to be applied to commercial products from 2025 onwards.
To complement these advancements, Hyundai also plans to build an extensive network of high-speed charging services in Korea.
Due to raw material supply problems, Hyundai Motor Group also said it will share costs with suppliers, calculate and ” set the appropriate price for the commercial product .”
Interestingly, the Korean automaker will partner with suppliers of internal combustion engine parts who want to move into the electric car sector.
The company will set up a fund to support these companies, along with developing more environmentally friendly spare parts.
These initiatives are expected to bring Hyundai to the top of the rankings of electric vehicle manufacturers, currently dominated by Tesla.
The Korean company has been leading traditional competitors (such as Honda and Toyota) in recent times, as they have been slow in the electric car race.