During the 2023 CEO Investor Day, Hyundai Motor Company announced a 35.8 trillion won (around Php 1.5 trillion) investment in accelerating its electrification program over the next 10 years.
Hyundai Motor Company President and CEO Jaehoon Chang
Part of the hefty investment is the development of the company’s next-generation electric vehicle (EV) platform planned for 13 new dedicated EV models. These zero-tailpipe emissions vehicles are slated to be launched by 2030. Brands under the Hyundai Motor Company umbrella including Hyundai, Kia, and Genesis will benefit from the new platform.
The next-gen platform will replace the current electric-global modular platform (E-GMP), which currently underpins all-electric cars such as the Hyundai Ioniq 5, Hyundai Ioniq 6, Kia EV6, and Genesis GV60.
The brand is accelerating its electrification campaign
Hyundai is also bolstering its EV lineup with the development of solid-state batteries. The company is collaborating with companies such as Solid Power to secure elements and manufacturing processes.
By 2030, the goal is to boost the annual EV sales to two million units. It will be made possible by the increase of global EV production from eight percent this year to 34 percent in 2030.
Hyundai is transforming its brand
The said push for EVs is part of the larger 109.4 trillion won (Php 4.7 trillion) investment in transforming the brand to become a better mobility solution provider. It will improve future businesses such as autonomous driving, hydrogen, robotics with partner Boston Dynamics, and advanced air mobility (AAM).
“The value of cultivating human-centered innovation by further developing technology inherited from the past is the distinct heritage that a company with a rich legacy can provide,” said Hyundai Motor Company President and CEO Jaehoon Chang.
“As it originated from Pony, the Ioniq 5 – a high-performance EV scheduled for unveiling in July – will embrace and carry forward the enduring heritage of Hyundai Motor Company,” added Chang.
Currently, Hyundai Motor Philippines, Inc. (HMPH) is offering two of its EVs – the Ioniq 5 and the Ioniq 6. The latter is the later addition to the lineup, coming with an all-electric powertrain capable of providing a range of 545 km.
Get the latest industry updates at Philkotse.com.