Hyundai debuts its new electric SUV concept the 'Seven' at LA Auto Show

Hyundai VP of Product Strategy, Olabisi Boyle joins Yahoo Finance's Pras Subramanian to break down the companies new electric SUV concept, the 'Seven' and EV sub brand IONIQ being showcases at the LA Auto Show.

Video transcript

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KARINA MITCHELL: Welcome back. Well, the race to EV domination is on. And to discuss it, we take you out to a preview of the LA Auto Show with our Yahoo Finance's Pras Subramanian. He is with Hyundai VP of Product Strategy Olabisi Boyle.

PRAS SUBRAMANIAN: That's right, Karina. We're here at the Hyundai stand. A huge reveal here with the-- the Seven concept. I'm here with Olabisi Boyle, Hyundai VP of product strategy, to talk to me about this car. So let's see. This is a full-size concept, but I think it's going to hint at a car to come in the future, isn't it?

OLABISI BOYLE: It is going to hint at a car that comes into the future. But let me take you where we are. We have at Hyundai our North Star vision to make progress for humanity, which has started out with our E-GMP platform that allows us to have three different vehicles on the same platform. One is what's about to come out, our Ioniq 5, which is a crossover SUV. The second is the Ioniq 6, which is a sedan. And the third is going to be the Ioniq 7, which is a large, three-row SUV.

And in what we saw today with Seven are the concepts of what could be in that vehicle. And one of the things that we want to consider in there is post-pandemic. From a hygiene perspective, what opportunities and features do we want in the vehicle? What do we want in a vehicle that is a sport utility EV in the future from a seating perspective? Do we want to move the seats? Do we want different consoles? Do we want a panoramic roof where we can look up and watch TV while we're in the car?

And do we want what comes within an EV-- high AER, so all-electric range, 300 plus, fast charging, 10% to 80% in 20 minutes, and vehicle to load? Not only do I charge my car, but my car can charge other things. And so we have that all in the Seven concept.

PRAS SUBRAMANIAN: So as a strategist, you're working with the Ioniq sub-brand here with-- for Hyundai and making that kind of the-- that is the name for EVs going forward for Hyundai.

OLABISI BOYLE: Right.

PRAS SUBRAMANIAN: Is that correct?

OLABISI BOYLE: It is. It's on our dedicated EV platform that is not an internal combustion engine platform made for EVs. It is a dedicated platform for EVs, has a flat floor, so allows us all those opportunities to make different seating configurations in the vehicle, allows you more space in the vehicle, and allows you to bring that planet-friendly future home in that it's electric and fast charging. And it's what we're going to have to meet all our needs in the future.

PRAS SUBRAMANIAN: I know that connectivity is also in your-- in your background as well.

OLABISI BOYLE: Yeah.

PRAS SUBRAMANIAN: So I use the mic, right? So connectivity is in your background as well. What are some of the things that we can look forward to as-- into the future as consumers, the kind of connectivity options we can have in a car that we may not even conceive of?

OLABISI BOYLE: Right. Well, a couple of things. When you're in the car, you want to have all these activities when you're now able to lounge, one day, when we have autonomous vehicles. Well, all these entertainment options-- or kids doing their homework in the car. And what can we bring with all these screens to help you do that? That's one.

Second thing is, from connectivity, when you want to have new features added to your car, maybe you can have those features on demand, over the air. Another thing is, I want my voice assistant on the go when I remind-- I'm reminded of an errand I need to make. And it just charges automatically my virtual credit card, and I just voice activate that command. And I do it in the car while I'm seated, even while I have to drive, if I'm doing it not autonomously, or I can do it autonomously.

PRAS SUBRAMANIAN: So another thing you guys have done today is also introduced a commercial truck that uses hydrogen power. And I'm curious why Hyundai is using this two-pronged approach with these alternative powertrains in mind. What's-- what's behind that?

OLABISI BOYLE: You know, again, progress for humanity. So we are going to meet our very stringent goals of the future, so we can have that planning for a new future. BEV, which we already have come with and demonstrated with Ioniq 5, 6, and then 7-- also, fuel cell hydrogen is a very green way to go forward as well. And it also gives us opportunities with our Nexo SUV, where you can charge in the same amount of time that you can charge in an ICE vehicle, and it also has 380 miles.

So there's opportunities in this EV future to use both battery EV and hydrogen fuel cell, and we're committed to both. In fact, we have-- it's not a future plan. We have a Nexo SUV today, and we have a fuel-- heavy-duty, full-size Class 8 truck. Today, 40 of them are already in Switzerland, which we want to already bring to the United States.

PRAS SUBRAMANIAN: You know, back to the Ioniq and the sub-brand, Ioniq sub-brand here, what sets it apart from your competitors in that EV space, which is extremely competitive these days?

OLABISI BOYLE: Mm-hmm. When you-- when you get into the interior, it's much bigger than you think. It's got-- because we have so many opportunities with the flat floor, we have a universal console that you can move out of the way and gives you a lot of space. So now you can walk from the passenger side to the driver's side because all the seats can move back. You can lean the seat back and recline all the way, maybe while you're charging. You now have the ability to-- vehicle to load-- to charge appliances, to charge your house, to charge your laptop, work on the go.

You have all these opportunities-- not just the technology, but the experience within the vehicle. And that's one thing Hyundai really does. We look at the customer. How do they use the vehicle? And we don't just want to bring you the technology. We want to bring it to you in a way that you can really have productivity in your life.

PRAS SUBRAMANIAN: One last question-- I want to ask you about the LA Auto Show. We're here, a lot of big reveals here today. You're also an advisory board member to the show, and I wanted to talk to you about bringing this show back after the pandemic, how important it was for the industry, and kind of the challenges you face, and what's happening right now with the show.

OLABISI BOYLE: Right. So, you know, during the pandemic, there were challenges. A lot of shows had to close down. And so one of the things that we did do was be able to release the launch videos in the way that you saw it today. And as we're coming back out of the pandemic, at the show, we were able to be here and talk to you in person, describe our vehicle in person, but also use the video as a way to sort of make sure we got the key highlights.

As we go forward, I think companies are going to be looking for, how do I connect with those consumers? And it's good to have vehicles at this because all the consumers come in every day and get to see what the latest is going to be, and I don't think you're ever going to lose that. Some people grow up, and, you know, I went to the auto shows with my dad and my mom. And they showed me this, and they told me about these types of vehicles. They're going to see the future here, and everyone's going to still need that.

PRAS SUBRAMANIAN: You know I was an auto-show kid too. I went many years with my parents, so I'm glad to be here. Olabisi Boyle of Hyundai, thank you so much for joining us. I really appreciate it.

OLABISI BOYLE: Thank you, appreciate it.

PRAS SUBRAMANIAN: Back over to you, Karina.

KARINA MITCHELL: Yeah. Yeah, definitely not your mom and dad's auto-show there-- exciting technology. Thank you both so much.