Thursday, October 21, 2021
News Hyundai To Aggressively Increase EV Output

Hyundai To Aggressively Increase EV Output

The Hyundai Motor Group wants to boost EV production, possibly at the expense of its fuel cell technology.

  • They plan to launch two new assembly lines for EVs only.

  • Hyundai is already in talks with major battery suppliers.

  • They want to go after Tesla.

The Hyundai Motor Group will boost its EV capacities and increase its investment in the technology. Tesla’s unexpectedly quick dominance in South Korea has prompted Hyundai to react.

Hyundai Kona EV | Photo: Matt St-Pierre

Hyundai is no stranger to EVs as it builds and sells numerous models throughout its brands. Given its strong home market presence, it never thought Tesla would actually outsell the Korean brand in its own backyard, and yet this is what happened in June.

Hyundai now plans to build two new production lines entirely dedicated to assembling EVs. The first will be built next year while the second would be constructed in 2024. At the same time, Hyundai Motor has also held meetings with Samsung, LG, and SK Group, which make batteries and electronic parts, the goal being to secure batteries. These are the same companies that supply Tesla, Volkswagen and GM.

Only recently has Hyundai been concerned with Tesla’s growing market share. A senior Hyundai insider told Automotive News Europe that the introduction of the Model 3 was nothing short of a strategic victory for Tesla. As well, the insider said that Hyundai, like many traditional automakers, may face serious roadblocks from its powerful union. Not only do EVs require fewer parts but many are outsourced, which could lead to job cuts.

Hyundai has backed fuel-cell technology for a number of years however the technology is going nowhere. Globally, in 2019, nearly 1.7 million EVs were sold compared to just over 7,700 hydrogen vehicles. Hyundai has caught on as they only plan to launch only two hydrogen vehicles by 2025 while 23 EVs are on the way over the same period.

2020 Hyundai Nexo
2020 Hyundai Nexo | Photo: Hyundai Canada Inc.

Trending Now

Stellantis and LG will Make Battery Cells in North America

Stellantis wants to have 40% of its US sales to be electrified by 2030 Many new electric and hybrid products should be introduced...

Now is Your Last Chance to Buy a Ford Maverick Hybrid for a Few Months

The total production run for 2022 is almost fully reserved Orders will close in early November and they will reopen next summer The...

2022 Volvo XC40 Recharge: Lower Price and Longer Range in Canada

Range has been increased to 359 kilometers Base price will now be $59,950 in Canada This price reduction allows the XC40 Recharge to...

Amazon Will Help Rivian Grow

  Amazon owns a 5% stake in Rivian Rivian is making electric delivery vans for Amazon The van order from Amazon is worth $4.5...

New Porsche 718 Cayman GT4 RS to Debut in November

The GT4 RS is a real RS. It lapped the Nürburgring-Nordschleife circuit in 7:04.511 minutes. That’s 23.6 seconds faster than the 718 Cayman...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.