31 all-electric vehicles will be launched across the Hyundai, Kia, and Genesis brands by the end of the decade.
The Hyundai Motor Group has announced that it intends to rule the EV sales roost, with a goal of becoming one of the top three EV makers in the world (in terms of sales) by 2030. The first step in achieving this will see the automotive conglomerate increase production across the board. By 2030, EV production in Korea will rise to 1.51 million units, while global output will rise to 3.64 million.
To execute this, Hyundai, Kia, and Hyundai Mobis will invest around $18 billion into the Korean EV sector. This will see the manufacturing giant upgrade the country's "EV ecosystem" and promote local electric vehicle production and infrastructure. Elsewhere, Kia is preparing to establish a production facility for purpose-built vehicles (PBVs).
Part of this investment includes the establishment of research hubs, that will help improve crucial EV technology such as batteries, motors, and technology that improves electric vehicle range.
The Hyundai Motor Group electric vehicle lineup will also grow to accommodate 31 fully-electric vehicles by 2030. These vehicles will be spread across the Hyundai, Genesis, and Kia brands. We already know that Kia models will take up the vast majority of those new cars; the company recently announced that it will launch 15 new EVs by 2027.
The automaker just introduced the new EV9 in North America, and Hyundai recently added the Ioniq 6 to the local lineup. Next year, the Ioniq 7 will be added to the ever-growing electric product portfolio. Genesis is slowly introducing its electric offerings across the country and will reportedly launch an electrified sports car offering.
Additionally, the Hyundai Motor Group will endeavor to fast-track the development of next-gen platforms that will enhance EV performance. The Integrated Modular Architecture (IMA) will spawn dedicated platforms for respective vehicle classes, including the "eM" platform for passenger EVs.
Vehicles underpinned by IMA will make use of standardized batteries and motors, which will increase development speeds and efficiency. These platforms will make their way to production vehicles from 2025 onwards. To complement these EV advancements, Hyundai also has plans to build a high-speed charging service that will expand the network in Korea.
The E-pit charging brand launched in 2021 and will grow in the years to come. It will be interesting to see whether Hyundai decides to do this globally, much like Tesla has done with its expansive charging network. Mercedes-Benz has embarked on a similar project and has plans to establish 10,000 branded charging points in North America.
Owing to supply issues surrounding raw materials, the Hyundai Motor Group has also said it will share costs with suppliers, take this into account, and "reflect those changes in the prices of goods provided."
Interestingly, the Korean automaker will consult with combustion engine parts suppliers who wish to pivot towards electrification. It will do so by establishing a fund that will support these companies, along with the development of eco-conscious components.
Together, these initiatives will push Hyundai to the top of EV charts, which are currently dominated by Tesla. The Korean company is streaks ahead of its traditional competitors (such as Honda and Toyota), which, in recent times, appear to have fallen behind in the electromobility race.
Hyundai will have to fend off attacks from the Volkswagen Group, which also has intentions of ruling the EV segment. It's safe to assume Tesla, VW, and Hyundai will all be strong players shortly, especially if they can reach their respective goals. Judging by the EVs the Hyundai Motor Group has put out in recent years, we will be surprised if the company doesn't achieve what it has set out to.
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