In the first quarter of 2020, Hyundai-Kia took fourth position in the sales of battery-electric vehicles (BEVs) according to a report by José Pontes of EV Sales blog. The group has sold a total of 24,116 BEVs acquiring 6 per cent of share in the market and the number stands at 36,846 units that include BEVs and PHEVs translating to 8 per cent market share, as per the blog that has been tracking the global EV sales for 8 years. The number would see a drastic change next year as both Hyundai and Kia are planning a wide range of fully-electric vehicles based on the group’s E-GMP platform and the world economy recovers from the effects of the Coronavirus.
According to EV Sales blog, Tesla Motors closed the first quarter of 2020 with 88,400 vehicles, followed by Renault-Nissan (39,355) and the Volkswagen Group (33,846).
The first car from Hyundai based on the new EV platform is the 45-concept based NE EV that will launch in early 2021. The NE EV 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 replace the Hyundai Ioniq. The production version of the Prophecy is expected in late-2021.
Over at Kia Motors, the Imagine based model is gearing up for 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 group’s luxury arm Genesis is working on its first electric model, an SUV, that is expected to launch next year.
2 January 2020 –
The Hyundai Motor Group has become the world’s third-largest electric vehicle maker. The combined share of Hyundai and Kia in the global electric vehicle market reached 7 percent by the end of November 2019, according to IHS Markit. Hyundai Motor Group is tied in third place with the BMW Group and Renault-Nissan-Mitsubishi (RNM) Alliance.
Till November 2019, Hyundai Motor Group sold a total of 129,950 EVs, a 40 per cent rise from the 90,860 units sold in 2018 with 22,798 units sold in South Korea and 107,152 sold in overseas markets. The group entered the top ten list of global EV makers in 2018 with a 5 per cent share, coming in at 8th place behind Tesla, BYD, RNM Alliance, BAIC Group, BMW Group, SAIC Motor and Geely.
Latest data shows that Hyundai Motor Group’s EV sales increased in major markets like the United States and Europe. In the European EV market, the group reached 13 percent share after Tesla (18 percent), RNM Alliance (16 percent) and BMW Group (14 percent).
In April 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 has already stated that it is looking to take the electric route for most models in India by 2035. In July 2019, Hyundai Kona electric SUV was launched in India through 15 dealerships and in 11 cities across the country. The company is looking to expand its 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. Reports also suggest that Hyundai could invest around $200 million on the development of a new EV platform that will spawn an affordable electric crossover vehicle priced under Rs.10 lakh in 2022.