[2022 Busan Motor Show] Hyundai Motor "Expanding to 13 Electric Vehicle Models by 2030... Selling 1.8 Million Units Domestically and Abroad"

Hyundai Motor Unveils Mid- to Long-Term Electrification Plan

From the left in the photo are Lee Sang-yeop, Vice President of Hyundai Motor Company; player Park Ji-sung; Jang Jae-hoon, CEO of Hyundai Motor Company; Yoo Won-ha, Head of Domestic Sales Division at Hyundai Motor Company; and Kim Heung-soo, Head of EV Business Division at Hyundai Motor Company, posing for a commemorative photo in front of the Ioniq 6 vehicle unveiled at the press event of the Busan International Motor Show on the 14th. Photo by XXX

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor Company announced on the 14th that it plans to sell more than 1.8 million electric vehicles worldwide by 2030. Including the premium brand Genesis, the company will increase its current six models to more than 13 models (6 Hyundai models and 7 Genesis models) and actively expand charging infrastructure.

At the press event of the Busan International Motor Show held that day, the company unveiled its mid- to long-term electrification plan. Last year, the company sold about 140,000 electric vehicles. Domestic electric vehicle sales are expected to increase from about 42,000 units last year to 330,000 units by 2030, with an average annual growth rate of 26%. The share of electric vehicle sales is planned to rise from 6% last year to 45% by 2030.

To popularize electric vehicles, Hyundai will complete the development system of the Integrated Modular Architecture (IMA) and secure a dedicated next-generation platform as soon as possible. This is a measure to maintain the driving range and charging performance, which are considered key competitive advantages of electric vehicles, at the highest level.

Hyundai Ioniq 6

The company will also expand charging infrastructure. The ultra-fast charging brand E-Pit, launched in April last year, will be expanded from highways to major urban areas, with a total of 500 units to be installed. Hyundai plans to form the E-Pit Alliance, a consortium of charging operators cooperating with domestic companies, and establish a Special Purpose Company (SPC) to distribute 5,000 urban ultra-fast chargers by 2025. It will also support expanding apartment charging infrastructure to about 400,000 units by 2025. Mobile chargers will be introduced soon as well.

The Ioniq 6, unveiled worldwide for the first time that day, is expected to sell about 12,000 units this year. Yu Won-ha, head of Hyundai Motor's domestic business division, stated that pre-orders will begin on the 28th and customer deliveries will start in September. Hyundai Motor CEO Jang Jae-hoon told reporters, "We expect global sales to reach 50,000 units next year," adding, "Currently, overseas production is not being considered."

Hyundai Motor Seven Concept

Following the Ioniq 5 launched last year, the Ioniq 6 this year, and the Ioniq 7, targeted for release in 2024, are currently under development. In addition, high-performance brand N electric vehicles will be added. The hydrogen fuel cell trucks and buses exhibited at this Busan Motor Show will also be released to the market soon. The Xcient hydrogen electric truck will begin domestic sales in the second half of this year. According to the company's own tests, it can travel about 570 km on a single charge, with a maximum output of 350 kW. The company plans to prioritize supplying public-purpose vehicles such as street sweepers in cooperation with local governments.

The Universe hydrogen electric bus, the second model released after the Elec City hydrogen electric bus, can operate daily routes of metropolitan buses with a single daily charge. Its maximum output is 335 kW. From August, it will undergo pilot operation in the Busan, Ulsan, and Gyeongnam areas. Kim Heung-soo, head of Hyundai Motor's EV division, said, "We will build an optimal electric vehicle lineup to lead the electrification era and satisfy diverse customer needs."

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