Hyundai announces plans to become one of top 3 EV makers by 2030
Hyundai Motor Group announced its goal to become one of the world’s top 3 EV manufacturers by 2030 through the combined sales of Hyundai Motor, Kia and Genesis electric models, at the groundbreaking ceremony of Kia’s dedicated plant for purpose-built vehicle (PBV) production in Korea. The Group also highlighted its plans to invest KRW 24 trillion in the domestic EV industry through Hyundai Motor, Kia and Hyundai MOBIS by 2030.
The Group announced plans to significantly expand the annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030. Their large-scale investment aims to upgrade Korea’s EV ecosystem and strengthen its role as a hub for driving innovation in the global automotive industry. It is also expected to promote a virtuous cycle of domestic EV production, R&D, infrastructure and related industries.
In 2030, Hyundai Motor Group will have a total lineup of 31 EV models, including models from Hyundai Motor, Kia, and luxury brand Genesis. Kia will launch EV9, its first three-row seat electric flagship SUV, this year and Hyundai Motor plans to launch the IONIQ 7 in 2024, a company statement said.
The Group also plans to sequentially develop dedicated platforms for each vehicle class under the Integrated Modular Architecture (IMA) system, including the ‘eM’ platform designed exclusively for passenger EVs, which will be introduced in 2025. Platforms using IMA can standardize batteries and motors to increase product development speed and efficiency. In addition, the companies will actively build a high-speed charging infrastructure to maximize charging convenience for EV customers and to continuously expand the charging network in Korea. In April 2021, the Group launched E-pit, a high-speed EV-charging brand, and also launched the E-pit Charging Service Platform (E-CSP) in the following year.
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