Korean consortium Hyundai Motor Group wants to become one of the top 3 electric vehicle manufacturers in the world by 2030adding the sales of models of the Hyundai, KIA and Genesis brands.
The announcement was made at the inauguration in Korea of a new plant dedicated to producing KIA’s specially designed vehicles (PBVs). These are models that are not for passengers, and that are designed to fulfill specific tasks, such as transporting cargo of different formats and sizes.
To meet this goal, the Hyundai Group announced an investment of 24 trillion won (about 18 billion dollars) in Korea for the research and development of its new electric vehicles, whose Annual production should rise to 3.6 million units by 2030, of which 1.5 million will be produced in their country of origin.
Hyundai says this large-scale investment is aimed at improving the electric ecosystem in Korea and strengthening its role as a hub for driving innovation in the global auto industry. These investments will be concentrated in new production centers, in the expansion and diversification of the product linein the development of advanced technologies and new electrical energy systems, and in the expansion of a public high-speed charging infrastructure.
The brand also announces the development of new next-generation platforms to improve the performance of electric vehicles.
The Group plans to sequentially develop dedicated platforms for each vehicle class under the Integrated Modular Architecture (IMA) system.including the eM platform, designed exclusively for electric passenger vehicles, and due to be introduced in 2025. Platforms using IMA can standardize batteries and motors to increase the speed and efficiency of product development.
By the end of the decade, Hyundai Motor Group will have a total of 31 EV vehicles on the market, including models from Hyundai, KIA and Genesis.
