Hyundai to launch 17 new EVs by 2030
Firm is planning a whole new electric offensive.
Hyundai will introduce 17 new electric vehicles while aiming to sell 1.87 million EVs annually by 2030.
Announced as part of the firm’s Investor Day forum, 11 of these models will be assigned to Hyundai, with six going to Genesis.
Three of these new Hyundai models will be saloon cars, with six SUVs, on light commercial vehicle and one ‘new type model’. Genesis will introduce two standard passenger cars and four SUVs, kicking off with the Electrified GV70 due to launch later this year. Genesis has already pledged to become an electric-only brand from 2025, too.
Hyundai will also be launching the second generation of its E-GMP electric vehicle platform in 2025, which will aim to reduce manufacturing costs. Called Integrated Modular Architecture (IMA), it’ll be used to standardise battery systems and motors, allowing it to be used underneath a variety of different models. So rather than different battery packs being used for each model – as is the norm at the moment – the IMA can be fitted with standardised batteries regardless of the model. Five different types of motors can be installed on the IMA depending on the model.
Jaehoon Chang, president and CEO, said: “Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic.
“Along with our seamless efforts to improve EV value, Hyundai Motor will continue to secure its business sustainability as a ‘Mobility Solutions Provider’ through advanced technologies of not only hardware but also software.”
Hyundai plans to deploy a £12bn investment strategy in order to increase its annual EV sales to 1.87 million annual units. It goes above and beyond the 560,000 EVs Hyundai originally planned to sell each year by 2025.
