Hyundai has announced that it will be launching 17 BEVs (Battery Electric Vehicles) by 2030. Out of the 17 new models, 11 will be Hyundai models while the remaining 6 have the Genesis badge. For those of you who don’t know, Genesis is Hyundai’s luxury division.
All these vehicles will be built on Hyundai’s second generation E-GMP electric vehicle architecture which will be launched by 2025. Hyundai says that this new Integrated Modular Architecture (IMA) is an upgrade over the current E-GMP architecture which underpins the Hyundai Ioniq 5, Kia EV6 and Genesis GV60. We’re told the platform will offer improved driving range and underpin 'purpose-built' commercial vehicles alongside the usual passenger cars.
Along with the new platform and plethora of models coming up, Hyundai will be investing £12 billion in its EV strategy which is based on three pillars: "strengthening BEV line-ups, optimising manufacturing capacity and securing hardware and software competitiveness." With this Hyundai is looking to increase its annual EV sales to 1.87 million units and get a 7% global EV market share by 2030.
Hyundai will also be working on the software side of things in its cars as the Korean firm will be investing £7.5 billion towards software tech while will help it offer over the air updates by the end of 2022 and generate 30% of its sales revenue through software-related businesses from 2030.
“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,” said President Chang. “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.”
