Hyundai would plan to scrap a large part of the available models with an internal combustion engine. Naturally, the funds released will go directly to the development of more EVs.
As many as half of the available models with an internal combustion engine will be scrapped in the coming years, insiders report to Reuters. The plans are said to have already been approved by the top management of the Korean car manufacturer, which is undeniably energetic in the EV field.
With the scrapping of models with a diesel or (especially) petrol engine, money will be released to accelerate the development of EVs. There is also room for the production of EVs and models that run on hydrogen, which Hyundai is still working on.
On to 10 percent
While the rumors don’t get more detailed than that, they do fit Hyundai’s grand EV ambitions. The Ioniq 5 is only the beginning of a whole model offensive, while the Koreans were already quite successful with the Kona Electric, among others. By 2025, Hyundai, which includes Kia and Genesis in this regard, hopes to control 10 percent of the global EV market.
BMW previously announced that it would pay less attention to combustion engines, although that brand is concentrating on scrapping powertrains instead of models. Incidentally, Hyundai is already showing how you can squeeze one combustion engine to the limit. For example, the Hyundai Tucson is in fact available with a single engine, which is optionally combined with mild hybrid, hybrid or plug-in hybrid technology.