With the Ioniq 5, Hyundai currently has one of the best electric vehicles on the market. The South Korean automaker is working on a few more zero-emissions products, including the Ioniq 6 saloon, and it has just announced its plans to launch no fewer than 11 new EVs by the end of the decade. Six new EVs are planned for the Genesis luxury brand too as Hyundai has set a new target of 1.87 million EV sales annually by 2030.
Earlier today, the manufacturer provided details about its updated EV strategy for the next eight years. As a part of the business plan, Hyundai will reveal three electric saloons, six SUVs, one light commercial vehicle, and one unspecified “new type model.” The first to arrive will be the Ioniq 6 later this year, followed by the Ioniq 7 in 2024.
Gallery: 2023 Hyundai Ioniq 6 winter testing spy shots
In turn, the BEV lineup of Genesis will grow to include two electric “passenger cars” and four SUVs. Later in 2022, the premium division of Hyundai will launch the Electrified GV70 on the market and, starting from 2025, all new models from the brand will be electrified.
Hyundai will also invest heavily in developing a more efficient vehicle production process. The company’s innovation centre in Singapore is working on a new human-centred manufacturing platform, which is expected to bring “dramatic innovation in production efficiency.” Once the technology is fully developed, it will be deployed to Hyundai’s factories around the world in the near future.
In addition, Hyundai wants to gradually expand EV production into more and more plants. A new Indonesian site will start production of electric vehicles later this year. To secure sufficient battery supply, Hyundai will work to establish new strategic alliances with battery companies in major regions.
“Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic,” Hyundai Motor CEO Jaehoon Chang comments.