Hyundai has revealed a strategic electrification roadmap at its ‘2022 CEO Investor Day’ virtual forum.
The South Korean automaker aims to boost annual global BEV sales to 1.87m units and secure a 7% share of the global BEV market by 2030.
To achieve this, the company plans to introduce 17 new BEV models: 11 Hyundai marques and six models from the Genesis luxury brand by 2030.
These 11 Hyundai BEV models will consist of three sedans, six SUVs, one light commercial vehicle and one new model type.
Genesis’s luxury brand BEV line-up will include two passenger cars and four SUVs. From 2025, all newly launched models from Genesis will be electrified.
President and chief executive of Hyundai, Jaehoon Chang, said: “Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic.”
To increase its production capacity, Hyundai is building a new Indonesian plant that will start BEV production this year.
Hyundai’s Motor Global Innovation Centre in Singapore (HMGICS) will build a new manufacturing innovation platform. This will make the production process more efficient through advanced level automation and digital twin technology.
There are also plans to introduce an Integrated Modular Architecture (IMA) in 2025, evolved from the electric global modular platform (E-GMP) that is the foundation of IONIQ 5 and GV60.
This will become Hyundai’s passenger BEV platform and exclusive purpose-built platform (PBV) to streamline production processes and reduce costs.
The IMA will standardise the chassis, battery system and motor for future models.
In terms of financial targets, the carmaker will invest a total of KRW 95.5 trillion in its future business by 2030.
Of this, 19.4 trillion will be spent on electrification to expand EV production capability, build charging stations and engage in more strategic technology alliances.