Hyundai Motor Group (HMG), the parent company of Hyundai, Kia and Genesis, reinforces its position as one of the world’s top 5 EV companies. According to a new report from koreaherald.com, the South Korean auto giant was the world’s fourth-highest EV seller during the first nine months of this year.
Citing local research company SNE Research, the report says that HMG’s Hyundai and Kia sold a combined 130,000 electric vehicles in the world market between January and September 2020. This is a 40.7 percent growth from the same period in 2019. Star performers for HMG include the Hyundai Kona, Hyundai Porter electric mini truck, Kia Niro and Kia XCeed Plug-in Hybrid.
American electric car company Tesla was the world’s biggest maker with 316,000 units and market share touching 17.5 percent. The runners up are the Volkswagen Group with 233,000 units (12.9 percent) and Renault-Nissan-Mitsubishi with 8.2 percent, as per SNE Research.
Sales would see a drastic change next year with new product launches and recovery from the effects of the Coronavirus in the world economy.
Hyundai, Genesis & Kia plan a flurry of electric cars in the coming years
HMG is working on no less than 16 new EV. It has announced plans for seven ‘dedicated’ global Kia EVs announced in September and the China-only Hyundai Mistra EV & Kia Seltos EV, two Genesis EVs and at least three ‘dedicated’ Hyundai electric cars.
The first car from Hyundai based on the exclusive EV platform called E-GMP is the 45-concept based Hyundai Ioniq 5 that will launch in the first half of 2021. The Ioniq 5 is reported to offer up to a range of 500 km and will be offered with two battery options. Hyundai has also confirmed the production of the Prophecy concept which would launch in 2022 as the Hyundai Ioniq 6, to be followed by the Ioniq 7, a large SUV.
Over at Kia Motors, the Imagine based model is gearing up for a launch in 2021. To adopt the unique design mix of a sedan and an SUV, the Kia CV (codename) will be offering Porsche Taycan level performance in its top-spec variant with a driving range of 500 km. The company is believed to be developing a compact EV to compete with the Citroen Ami in the quadricycle segment.
In December 2019, Hyundai unveiled ‘Strategy 2025’, to sell 670,000 electric vehicles annually and become one of the world’s top three manufacturers of battery and fuel cell EVs by 2025. The company has decided to invest KRW 61.1 trillion (USD 52 billion) between 2020 and 2025 for research and development (R&D) and further exploration of future technologies.
Hyundai to introduce an affordable electric car in India in 2022
Hyundai has already stated that it is looking to take the electric route for most models in India by 2035. In July 2019, Hyundai Kona EV was launched as the first step through 15 dealerships and in 11 cities across the country. The company is looking to optimize production capacity in India to include the EV plan. India will also act as Hyundai’s regional headquarters to make smart electric vehicles for emerging markets.
The first affordable Hyundai electric car for India is to be based on the upcoming micro SUV and launch in the second half of 2022.