Hyundai's New Cars Next Year: 'Electric > Internal Combustion' Surpasses for the First Time

Ioniq 6, Kona EV and at least 5 other new electric vehicle models expected to launch

Hyundai Ioniq 6 Concept Model

[Asia Economy Reporter Changhwan Lee] Starting next year, Hyundai Motor Company's new electric vehicle (EV) launches are expected to surpass new internal combustion engine (ICE) vehicle launches for the first time. This indicates that Hyundai Motor Group's carbon neutrality strategy, targeting 2045 as the ultimate goal, is progressing faster than anticipated.

According to industry sources on the 30th, Hyundai plans to launch at least five new electric vehicle models next year. The most anticipated dedicated EV, the Ioniq 6, is expected to be released as early as the first half of next year.

The Ioniq 6, the successor to the Ioniq 5, is expected to be launched as a coupe-style sedan. Hyundai established EV mass production facilities at its Asan plant in mid-year to produce the Ioniq 6 and is expected to begin trial production early next year.

In addition to dedicated EVs, numerous derivative electric models based on existing models will be launched next year. The Kona EV successor model will be released, along with the Staria EV and Casper-class compact EV. Genesis also plans to launch the GV70 electric vehicle.

On the other hand, internal combustion engine vehicles are currently expected to include only the full model change (full change) of the Grandeur and year-model changes for the Palisade and Sonata. There are no plans for completely new ICE models beyond upgrades of existing ones.

This is the first time since 2022 that Hyundai's EV launches have outnumbered ICE vehicle launches. Last year, there were no EV launches, and this year, three models?the Ioniq 5, G80 EV, and GV60?were released. However, next year, the number of EV models will nearly double.

Kia plans to launch the Niro EV and a high-performance version of the EV6, the EV6 GT, next year. Although the number of EV models is smaller compared to Hyundai, Kia plans to increase its model lineup going forward.

Hyundai’s Carbon Neutrality Pace Expected to Accelerate

With the increase in new EV model launches, Hyundai Motor Group's carbon neutrality pace is also expected to accelerate. Hyundai Motor Group has announced a phased carbon neutrality plan, starting with banning ICE vehicle sales in Europe from 2035 and extending to banning ICE vehicle sales worldwide by 2045.

Accordingly, new ICE vehicle launches are expected to decrease steadily, with most ICE vehicles likely to be discontinued before 2030.

In particular, Genesis, Hyundai’s luxury brand, plans to launch only hydrogen and electric vehicles from 2025 onward, indicating that Genesis’s transition to electric vehicles is imminent.

Aggressive new EV launches also increase the potential for improved financial performance. EVs are known to have higher prices and thus higher profit margins compared to ICE vehicles.

Hyundai and Genesis plan to focus on improving performance through aggressive EV sales expansion strategies in the United States. To this end, Hyundai is considering EV production at its U.S. plants starting next year.

Recently, as the supply shortage of automotive semiconductors has improved, vehicle sales next year are likely to increase compared to this year. Since the fourth quarter, Hyundai has been pushing for Sunday overtime work to increase production as semiconductor conditions improve.

An industry insider said, "With the recent improvement in semiconductor supply, weekend overtime at the Ulsan plant has increased, revitalizing the atmosphere. We expect that aggressive new EV launches next year will likely improve performance compared to this year."

This content was produced with the assistance of AI translation services.