Big ambition
Hyundai Motor Group – the parent company of Hyundai, Kia and Genesis, among others – will invest no less than €16.5 billion in its EV activities up to and including 2030. Hyundai Motor Group wants to be among the Top 3 largest EV manufacturers worldwide by 2030.
Hyundai and Kia are already launching one new EV after another, but Hyundai Motor Group’s EV hunger has not yet been satisfied. It wants to massively expand its EV production in the coming years. Hyundai Motor Group has set a goal of producing 3.64 million electric cars worldwide by 2030. Of these, no fewer than 1.51 million must be built in their home country of South Korea. To make that possible, Kia, Hyundai, together with Hyundai Mobis, will invest no less than €16.5 billion in the South Korean EV departments up to and including 2030.
With the investment, not only should EV production in South Korea grow enormously. Part of the investments go to the research and development departments and in the local EV infrastructure. In the middle of last year, Kia already announced the arrival of a Korean factory where it will produce so-called Purpose Built Vehicles (PBVs). PBVs are ‘specialized vehicles that meet specific needs’. The previous Kia Niro with a modified and larger body was the first example of this, but from 2025 Kia will come with an eS-called modular EV base on which a whole range of tailor-made vehicles will be placed.
Hyundai Motor Group further indicates that it will develop new modular platforms for its next generation of electric cars. Hyundai Motor Group speaks of ‘dedicated platforms for each vehicle class’. This also includes the new eM platform intended for electric passenger cars that it will introduce in 2025. Finally, the electric model range of Hyundai Motor Group brands awaits expansion. By 2030, the brands of Hyundai Motor Group, which also includes Genesis, will have a combined 31 EVs.
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– Thanks for information from Autoweek.nl