The company’s goal is to sell 1.87 million electric vehicles globally each year by 2030
11 new electric models will wear the Hyundai badge
6 additional EVs will be sold by Genesis
Hyundai announced its new electrification goals for the decade by saying it wants to sell 1.87 million EVs annually by 2030.
To do so, the automaker will introduce 11 new electric vehicles in this time-frame and its luxury division, Genesis, will add 6 electric models to its lineup.
These models will have to be diversified in order to cover a larger part of the market. Indeed, Hyundai is working on three sedans, six SUVs and one light commercial vehicle, with the last one being an undetermined “new type” model.
The first one of these to arrive will be the Ioniq 6 sedan, which will join the Ioniq 5 hatchback in dealerships later this year. The Ioniq 7 large SUV will follow suit in 2024.
These models will all share similar mechanical components, which is not a problem since the Ioniq 5 is currently one of the most modern EVs on the market and one of the few which are equipped with an 800-volt charging infrastructure.
On Genesis’ side, the lineup will be increased by the addition of two “passenger cars” (probably sedans) and four SUVs, including the Electrified GV70 and the GV60 which have already been unveiled. The luxury division is not done with gasoline powered models, but its last ones will be introduced by 2025, after which the brand will focus entirely on electric power.
In order to maker building electric vehicles more financially attractive, Hyundai is working on ways to increase the efficiency of the production process and it is looking at converting more of its facilities to EV production in order to offer locally produced models in most markets.