EV News: Hyundai to launch 17 electric models to accelerate electrification push
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Hyundai's Ambitious EV Strategy: 17 New Battery Electric Vehicles by 2030
Hyundai's Launch Plan
Hyundai has announced that it will be launching 17 Battery Electric Vehicles (BEVs) by 2030. Out of the 17 new models, 11 will be Hyundai models while the remaining 6 will carry the Genesis badge. For those unfamiliar, Genesis is Hyundai’s luxury division.
New Electric Vehicle Architecture
All these vehicles will be built on Hyundai’s second generation E-GMP electric vehicle architecture, set to launch by 2025. Hyundai claims that this new Integrated Modular Architecture (IMA) is an upgrade over the current E-GMP architecture, which underpins the following models:
The platform is designed to offer an improved driving range and support 'purpose-built' commercial vehicles alongside standard passenger cars.
Investment in Electric Vehicles
Along with the new platform and an extensive range of models, Hyundai will invest £12 billion in its EV strategy, focusing on three pillars:
- Strengthening BEV line-ups
- Optimizing manufacturing capacity
- Securing hardware and software competitiveness
With this plan, Hyundai aims to increase its annual EV sales to 1.87 million units and capture a 7% global EV market share by 2030.
Software Development and Future Prospects
Hyundai will also focus on software enhancements within its vehicles, investing £7.5 billion in software technology. This investment aims to facilitate over-the-air updates by the end of 2022 and generate 30% of its sales revenue through software-related businesses by 2030.
Hyundai's Commitment to Electrification
“Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs, despite challenges such as 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 in both hardware and software.”
