The number of BEVs will increase from 9 in 2019 to 23 by 2025 and 11 of them will be dedicated BEV models.
Hyundai Motor Group (Hyundai, Kia and Genesis) starts the New Year 2020 with a bold announcement of an electrification business strategy and investment of more than KRW100 trillion (£65 billion) over the next 5 years (by 2025).
The plan includes expansion in the electrified car segment from 24 models in 2019 to 44 by 2025. The crude numbers indicate that the major path of growth will be all-electric, as the number of battery electric vehicles (BEV) will not only increase from 9 to 23 (14 out of 20 total planned electrified models to be BEVs), but also because 11 of them will be dedicated models.
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On the other hand, the hydrogen fuel cell segment will be expanded from a single to two models by 2025. No comment is required, we think.
"In the future, the Group plans to supply fuel-cell systems to the transport sector -- covering vehicles, vessels, railcars and forklifts -- and power-generation sector -- covering electricity production and storage -- thereby delivering some 200,000 fuel-cell systems per year around the world by 2030. The Group will simultaneously establish a 500,000 units-per-year capacity for FCEV production in Korea. "
The first dedicated BEV model will be launched in 2021, using the upcoming all-new Electric-Global Modular Platform (E-GMP), for which SK Innovation is expected to supply batteries.
"In particular, the BEV lineup will increase to 23 models by 2025 from last year’s nine models, with the first dedicated BEV model to be launched in 2021. A new EV architecture development system will be introduced and applied to models slated for launch in 2024. "
Soon, the best-selling SUV models like Kia Sorento, Hyundai Tucson and Hyundai Santa Fe will get a hybrid and plug-in hybrid variants.
- 44 electrified models by 2025 (24 in 2019), including:
- 13 hybrids
- 6 plug-in hybrids
- 23 all-electric (up from 9 in 2019), of which 11 to be dedicated models
- 2 hydrogen fuel cell
- The first dedicated BEV model to be launched in 2021
- A new EV architecture development system will be introduced and applied to models slated for launch in 2024
- Sales volume by 2025: 670,000 zero-emission vehicles
- BEVs: 560,000
- FCVs: 110,000 (about one-fifth of BEVs)
- PHEVs: an undisclosed number