Hyundai Motor Group aiming to be one of the top 3 EV manufacturers in the world

2024-01-12 by drive360

Hyundai Motors, a global automotive manufacturing leader, has set an ambitious goal to become one of the world's top three electric vehicle (EV) manufacturers by 2030. The company aims to achieve this by investing heavily in research and development, manufacturing capabilities, and expanding its EV lineup.

Hyundai has been a pioneer in the EV market, with its Hyundai Kona Electric and Hyundai Ioniq Electric gaining popularity for their performance, range, and affordability. Building on this success, Hyundai plans to launch a dedicated EV platform called the Electric-Global Modular Platform (E-GMP), which will underpin a new generation of Hyundai and Kia electric vehicles. The E-GMP platform is expected to provide longer range, faster charging, and enhanced performance, offering a compelling proposition to consumers.

To support its EV ambitions, Hyundai is investing significantly in research and development. The company plans to allocate $10 billion by 2025 to develop EV technologies, including battery technology, power electronics, and hydrogen fuel cell systems. Hyundai also aims to strengthen its manufacturing capabilities for EVs, with plans to produce 1 million EVs annually by 2025.

Hyundai is also focusing on expanding its EV lineup to cater to different segments and markets. The company plans to introduce 23 all-electric models by 2025, including sedans, SUVs, and multipurpose vehicles, to meet diverse consumer needs. Hyundai also aims to enhance its electric vehicle sales in major markets, including the United States, Europe, China, and South Korea, to establish a strong global presence in the EV market. By aiming to become one of the top three EV manufacturers in the world by 2030, Hyundai is making a bold statement about its commitment to electric mobility. The company's investments in research and development, manufacturing capabilities, and expanding its EV lineup demonstrate its determination to be at the forefront of the rapidly growing EV market and shape the future of mobility.

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