We all know that the automotive industry is moving toward electrification. In the following years, global electric vehicle (EV) manufacturing is predicted to rise. With that stated, Hyundai, the South Korean automaker, is about to make significant strides of its own.
Hyundai Motor CEO Jaehoon Chang discussed the automaker’s future electrification ambitions at the company’s most recent CEO investor day conference.
A total investment of 19.4 trillion won ($16.10 billion) is aimed at increasing the company’s sales by attaining a 7% global EV market share by 2030.
Hyundai intends to accomplish this by bolstering its BEV lineups, streamlining production bases, and ensuring the competitiveness of automotive hardware and software.
A total of 17 new battery-electric vehicles (BEVs) will be released as part of the carmaker’s ambition to sell 1.87 million BEV units annually by 2030.
For the main Hyundai brand, three new sedan models, six SUVs, one LCV, and a new sector vehicle are in the works.
Their luxury division, Genesis, on the other hand, will feature a BEV lineup that includes two passenger cars and four SUVs, including an electrified version of the GV70 that will debut this year.
Hyundai’s aspirations to expand its BEV manufacturing locations were also underlined by Chang. Aside from the company’s existing production facilities in Korea and the Czech Republic, a new plant in Indonesia has recently begun operations.
