Hyundai Ramps Up EV Strategy in 2021

Paul Myles

TU-Editor

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1st February 2021

Hyundai pledges to ramp up its e-mobility strategy this year ahead of the launch of its first BEV, the Ioniq 5 aimed at the European market.

In a statement the automaker says it aims to to “achieve both quantitative and qualitative growth” in Europe, increasing volume while improving quality of service. Part of this will be the Ioniq 5, the first model built on Hyundai’ s BEV-dedicated E-GMP, as well as introducing a number of new measures focused on customer centricity.

The carmakers says its investment in future mobility is paying off having sold nearly 60,000 BEV and fuel cell electric vehicles in Europe in 2020, representing 13% of its European sales. It expects to maintain its position as the mainstream manufacturer with the highest proportion of zero emission vehicles sold in 2021 and plans to increase the number of units sold every year.

Globally, Hyundai will launch more than 12 additional BEV models in the next four years. By 2040, it plans to have fully electrified its global vehicle line-up and aims to account for 8%-10% of the global EV market. By 2025, the company plans to sell 560,000 BEVs per year worldwide to become one of the top three manufacturers of zero-emission vehicles. Hyundai currently offers 15 electrified models and derivatives in Europe. Of these, 11 were newly-launched or enhanced in 2020, including the Kona Electric BEV.

The up-coming Ioniq 5 will feature 800-volt high-speed charging and V2G technology. Beyond the numbers, Hyundai also plans to strengthen its sustainable mobility solutions offering. It will do this by increasing its customer centricity, delivering high-quality mobility experiences and supporting charging infrastructure for EV customers. Future plans include increased infrastructure such as public charging points and hydrogen refueling stations.

Michael Cole, president and CEO of Hyundai Motor Europe, said: “Last year was exceptionally important in our transition to future mobility. We made the investment to electrify nearly our entire fleet. This year, we plan to harvest the fruits of that investment by maintaining our strong market share and selling more EVs than ever before.”

— Paul Myles is a seasoned automotive journalist based in London. Follow him on Twitter @Paulmyles_