CR4® - The Engineer's Place for News and Discussion®


MotorBeat Blog

MotorBeat

MotorBeat covers the latest developments in car manufacturing, and technological advancements in transportation as a whole. The blog will help automotive enthusiasts and drivers to get a glimpse of the motoring future.

Jordan Perch loves automotive innovation and that is his ultimate passion. He is managing the resourceful DMV.com and is an active contributor to numerous consumer and automotive blogs.

Previous in Blog: Alternative Fuel Vehicles to Make Up Two-Thirds of Honda's Lineup by 2030   Next in Blog: Autonomous Taxis to Hit Singapore Streets
Close
Close
Close

Hyundai-Kia to Expand Electrified Models Lineup in Effort to Become an EV Powerhouse

Posted April 27, 2016 10:34 AM by Jordan Perch
Pathfinder Tags: electric vehicles ev Hyundai


The number of electric vehicle models available for purchase is much greater now than it used to be when they were first introduced to market, but the choice for prospective EV-buyers is still limited. That is bound to change in the years to come, with many automakers working on developing new models powered by electricity, to give consumers the opportunity to choose from a wider array of options.

Currently, the global EV market is dominated by a handful of companies, such as Toyota, Nissan, and Silicon Valley automaker Tesla Motors, but they are set to get many more serious competitors in the near future. One of the companies that is looking to threaten the dominance of the above-mentioned is South Korean automaker Hyundai Motor Group. The automotive group consisting of Hyundai and its South Korean counterpart Kia has announced that it will launch more than 20 electrified models by the end of the decade.

Fuel-Cell Vehicles in Addition to Hybrids and All-Electric Models

In an interview with Automotive News, Lee Ki-Sang, Hyundai Motor Senior Vice President and head of the company's Eco Friendly Vehicle R&D Center, stated that they plan to launch a total of 26 electrified models by 2020, in an ambitious move to catch up with the competition in the EV market and become a global powerhouse.
Hyundai's expanded electrified vehicle portfolio will include at least 12 hybrids, 6 plug-in hybrids, 2 all-electric models, along with 2 fuel-cell vehicles, Automotive News reports.This means that Hyundai is not only looking to challenge leading EV manufacturers, but also become a key player in the hydrogen-powered vehicle market, which is still in its infancy and is expected to become more competitive a little further down the road.The Automotive News report notes some of the electrified models that will be offered over the next couple of years. They include the Ioniq Hybrid, the Ioniq Plug-in, the Ioniq Electric, the Sonata Plug-in Hybrid, the Sonata Hybrid, the Grandeur Hybrid, and Tucson hydrogen fuel-cell electric vehicle.As far as Kia's eco-friendly models are concerned, they will include the Optima Hybrid, the Optima Plug-in, the Cadenza Hybrid, and he Soul EV, among others.

Boosting Global Sales

At the moment, Hyundai Motor Group is lagging far behind Toyota and Nissan in terms of EV sales. As Automotive News reports, Hyundai sold a total of 42,900 hybrids and plug-ins, in addition to 300 fuel-cell units last year, whereas Kia only managed to sell about 19,000 hybrids and 8,450 electric cars.

These numbers are pale in comparison to Toyota's, which sold 1.2 million hybrids and plug-ins globally. In the interview, Lee said that the company's goal is to quadruple their EV sales worldwide, which would mean that they are aiming at a target of 300,000 per year by 2020.

The main goal is obviously to overtake all other competitors in the EV market, and become the second-best player, behind Toyota, which seems unattainable at the moment.

It's tough to tell whether the South Korean company will achieve their goal, but these plans are a clear indication that it intends to follow in Toyota's footsteps and bet more seriously on eco-friendly vehicles in the future.

Reply

Interested in this topic? By joining CR4 you can "subscribe" to
this discussion and receive notification when new comments are added.

Previous in Blog: Alternative Fuel Vehicles to Make Up Two-Thirds of Honda's Lineup by 2030   Next in Blog: Autonomous Taxis to Hit Singapore Streets

Advertisement