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(Pocket-lint) - Hyundai, while at the Investor Day forum, announced its plans to introduce 17 new electric vehicles within the next eight years.

The automaker said 11 of the new vehicles will be assigned to the Hyundai brand, while Genesis will get the other six. The new Hyundai models will consist of three saloon cars, six SUVs, one light commercial vehicle, and one a "new type model". Genesis will introduce two standard passenger cars and four SUVs, starting with the Electrified GV70 launching later this year.

Keep in mind Genesis, the luxury arm of the Hyundai, has already promised to become an electric-only brand starting in 2025. Meanwhile, Hyundai plans to launch the second generation of its E-GMP platform in 2025, to reduce manufacturing costs. Called Integrated Modular Architecture (IMA), it'll usher in a new era of standardised batteries and motors.

"Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic", said Jaehoon Chang, Hyundai's president and CEO, in a press release on 2 March 2022. "Along with our seamless efforts to improve EV value, Hyundai Motor will continue to secure its business sustainability as a ‘Mobility Solutions Provider’ through advanced technologies of not only hardware but also software".

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Hyundai said it aims to sell 1.87 million EVs annually by 2030.  To increase its annual sales, Hyundai also announced a £12 billion investment strategy.

Writing by Maggie Tillman.
  • Source: Hyundai Motor Accelerates Electrification Strategy, Targeting 7% of Global EV Market by 2030 - hyundai.com
Sections Hyundai Cars