Every major car manufacturer is shifting to hybrid or electric technology very soon. That’s most probably a result of the different regulations and legislations introduced by governments and environmental organizations worldwide. The Korean auto manufacturer, Hyundai is also following suit. But at what pace are they changing? Are they ahead of their competitors? These are a few questions that we intend to answer.
Battery Factory in Indonesia
Hyundai has put forward a plan to heavily invest in a battery plant in Indonesia. The company has partnered with South Korean electronics giant LG, and together they intend to produce 10 GWh of lithium-ion battery cells each year. That’s enough to power more than 150,000 electric cars. The factory will have enough capacity to produce up to 30 GWh worth of cells in the near future. So, when demand increases, Hyundai will have a way to match it with increased supply.
According to Hyundai, each partner will have a 50% share in the venture with a total of 1 billion Euros being invested. The move will prove beneficial as the two companies step into a new era. It is for sure that 2030 onwards is going to be a time where BEVs will dominate.
Improving the Lineup
The European Union has always shown strictness when it comes to the environment and its protection. They have revealed ambitious plans to curb the harmful effects of pollution and introduced regulations to control carbon emissions.
Unfortunately, the deadline to act comes sooner for the automotive sector than others. The EU has stated that there will be a ban on the sale of petrol and diesel vehicles starting from 2035. And the deadline is even closer for those operating in the UK.
As a result, auto manufacturers are frantically searching for ways to improve their BEVs and hybrids. Hyundai has decided to match the European legislation and decided to sell only electric vehicles in Europe, starting in 2035. And by 2040 the brand will pull all of its petrol and diesel-powered vehicles from the world markets.
The future is looking bright for Hyundai. But they would have to work extra time in order to achieve their ambitious goals. We know that some manufacturers, who are already in the EV business, are finding it difficult to make efficient battery vehicles. So, Hyundai have their work cut out for themselves.
The company has made progress and we are going to see its results soon. It is only a matter of time before the freshly designed Ioniq EV models come rolling out of factories and we are able to test them on the road.
The Ioniq 5 SUV would be an interesting one out of the rest, since it will also come with level 4 automation. The Ioniq 5 is expected to be part of the driverless taxi system that will launch before 2023.
Kia Also Moving Up The Ladder
Hyundai’s sister-brand Kia is also gearing up to meet the EV challenge. They also intend to phase out ICE vehicle starting from 2025. The brand will convert its entire lineup to electric by 2030. The beautiful Kia EV6 GT, that will come as a result of the change will only improve Kia’s chances in the market.
So, keep your fingers crossed and buckle up because the ride ahead for Hyundai and other automotive brands will be bumpy and uncertain.