Full steam ahead
Hyundai presents its results for Q4 of 2022 and it shows that the Koreans are doing well. In terms of profit, turnover and sales, they scored significantly better than in the same period of the previous year. But it can’t go on, so Hyundai announces new investments at the same time. This involves around €8 billion, an important part of which for a new EV factory in the United States.
Hyundai is doing good business and wants to keep doing it, so it is investing around €8 billion this year, most of it in its new electric car factory in the United States. It turns out that the cake is not over yet, because the brand indicates that it will make even more investments this year. Electrification is the main goal in this regard. Hyundai will allocate around €3 billion in 2023 research and developmentpart of which will undoubtedly go to the development of a more affordable EV.
Thanks to the arrival of the new Kona and the Ioniq 6, Hyundai naturally hopes to sell more cars this year than in 2022, although the latter is only important in the more EV-oriented markets. Hyundai has managed to sell just over 1 million fully electric cars since the brand produced its first EV in 2010. All Hyundai models together accounted for just under 4 million cars last year. In 2023, Hyundai hopes to see the counter pass 4.3 million. Of that, about 330,000 units must be an EV – less than ten percent, but quite a number given the total EV sales to date. Not surprising, then, those investments.
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– Thanks for information from Autoweek.nl