Hyundai has just reviewed its corporate strategy for the next few years, in which, as expected, electric cars will play a fundamental role. In fact, and despite the crisis associated with the coronavirus pandemic, the Korean firm maintains the sales targets for electric vehicles announced a year ago.
Thus, for 2025 Hyundai wants its 100% electric cars to account for between 8 and 10% of its world sales, with a total of 560,000 units delivered annually. On the other hand, the firm wants its sales of hydrogen fuel cell cars to reach 110,000 units for the same year.
“In the medium and long term, Hyundai aims to ensure its leadership in the electric vehicle market and achieve an 8-10% share of the global electric vehicle market. Starting in 2030, the company will gradually expand its electric car offering in key markets such as the United States, Europe, and China to fully electrify its product line in major world markets by 2040.”
It will also support electric vehicles’ democratization in emerging markets such as India, Russia, and Brazil with more diverse electric cars. Thus, it is confirmed that the Korean firm will bet on electric mobility in the main world markets and in emerging regions where the transition to electric mobility will be more complicated.
Hyundai plans to offer more than twelve new electric models by 2025, including the highly anticipated IONIQ 5, its first vehicle built on the new E-GMP electric modular platform. This architecture will also be used by the other two brands of the Korean group, KIA and Genesis, in the production versions of the Imagine and Mint prototypes.