- The company aims to invest about 100 trillion Korean Won over the next five years for this
- It also plans to deliver about 200,000 fuel-cell systems annually globally by 2030
Hyundai Motor Group has revealed its product strategy until 2025 and it will include 44 electrified vehicles. The product line will include both electric and hybrid vehicles. The company aims to invest about 100 trillion Korean Won over the next five years for this. It will be divided into 20 trillion Korean Won every year. These announcements were made by Euisun Chung, the executive vice chairman (EVC), Hyundai Motor Group.
Chung also said that to consolidate leadership in vehicle electrification, the company plans to operate 44 electrified models by 2025. It will include 11 dedicated BEV models. It will be done by bolstering the development of EV platforms and core components as per him.
The electrified line-up for 2019 included 24 models. This will expand to 13 hybrids, six plug-in hybrids, 23 battery electric vehicles and two fuel-cell electric vehicles by 2025. The company is also working on on a new EV architecture development that can underpin new cars from 2024.
Deliver about 200,000 fuel-cell systems annually by 2030
Hyundai also aims to supply fuel -cell systems to the transport sector in the future. This will include vehicles, vessels, railcars and forklifts. It also plans to deliver about 200,000 fuel-cell systems annually globally by 2030. It will also establish a 500,000 units-per-year capacity for fuel cell electric vehicle (FCEV) production in Korea.
The company is also developing an autonomous driving platform. It will be ready by 2022. It will operate autonomous vehicles in select regions in 2023. Commercial productions will start by the second half of 2024. It aims to strengthen the accelerate the development of the autonomous driving software technology . It also wants to commercialise self-driving vehicles with SAE Level 4 and Level 5 technology in the near future.
Hybrid and plug-in hybrid models
Chung added that in the autonomous driving industry which is the core of future vehicles development, the company aims to attain the world’s top safety and technological innovation competitiveness. This will be done through the company’s U.S.-based venture to be jointly established with Aptiv which will target the commercialisation of the technology in 2023. Chung also said that the Group will develop new technologies and businesses like robotics, UAM based on PAVs and smart city development.
Hyundai Group will be adding more hybrid and plug-in hybrid models to its line-up this year. This includes the Kia Sorento, Hyundai Tucson and the Santa Fe. It has also signed an agreement with Cummins Inc. They will develop and commercialise electric and fuel-cell powertrain, battery and control technologies. It will start exporting the fuel-cell system to Cummins and enter the US this year. This will be followed by entering Europe.
