Your local Hyundai dealer could soon be the best place to find an innovative EV. Hyundai Motor Group has announced its plan to become one of the top three global electric vehicles (EV) producers by 2030.
Hyundai announced a new investment of around $18 billion to increase EV production. This is a significant move by the South Korean automaker, which is already seen as a real threat in the auto industry after surpassing General Motors, Nissan, and Stellantis in annual sales volume in 2022.
Hyundai Dealer: a Premium Buy’s Paradise
Hyundai’s IONIQ brand has been a hit with the new “premium buyer” market, with its first dedicated EV, the IONIQ 5, offering up to 310 miles range, 800V ultrafast charge capabilities (18 minutes), and advanced technology like vehicle-to-load (V2L). The IONIQ 6 followed it up, offering a sportier, more aerodynamic sedan, which debuted as one of the most efficient EVs on the market, with up to 361 miles range and 140 combined MPGe.
According to Hyundai’s European leadership, the company’s robust and boldly designed dedicated IONIQ EVs attract new buyers. Since brand loyalty doesn’t seem as strong in EVs, Hyundai is focusing on becoming a global EV powerhouse, entering the top three by 2030.
Ramping Up Production
Hyundai is ramping up its electric vehicle (EV) production in Korea to 1.51 million units and global export volume to 3.64 million units by 2030, compared to its previous plan of roughly 1.87 million EV sales globally in the same time frame. The company is also constructing a new plant dedicated to producing fully electric purpose-built vehicles (PBVs) while increasing capacity at existing production lines to boost EV production in Korea. That means you’ll see more options at your favorite Hyundai dealer soon.
Investing in the Future of EVs
Hyundai is committed to investing heavily in new EV technology and exploring a new platform for its next-generation EVs while establishing advanced facilities to increase capacity. This automaker will create a dedicated platform for each vehicle class under the Integrated Modular Architecture (IMA) system, including the “eM” platform for electric passenger vehicles, which will be released in 2025.
With these new investments, Hyundai aims to enhance the development of EV batteries and e-motors and technology to increase the all-electric range from a full charge. By 2030, Hyundai Motor Group, which includes Kia and Genesis, expects to be among the top three global EV producers, offering a total of 31 EV models, such as the new Kia EV9 electric flagship SUV and the IONIQ 7 from Hyundai, which is set to launch in 2024.
Hyundai’s dedication to becoming a top global EV producer is a hopeful sign for the industry and the environment. As more automakers commit to EVs, the transition to a cleaner and more sustainable future becomes more achievable. It’s reassuring to see a significant automaker like Hyundai taking the lead in this transition by investing heavily in EV technology and infrastructure.
With its IONIQ brand already appealing to a new class of buyers, it’ll be exciting to see how Hyundai’s efforts to become a global EV powerhouse will come to fruition in the upcoming years.
For more information on Hyundai’s EV lineup, stop by your local Hyundai dealer today.
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