Hyundai seeking 7% of the electric market by 2030

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hyundai electric

On the occasion of the Form ‘CEO Investor Day’ the leaders of Hyundai have presented the broad outlines of the investment plan of the Korean brand, projecting the acceleration of the electrification of its range and enter the club of the big by 2030.

Three sedans, six SUVs, a light commercial vehicle and an unspecified model will act as a surprise.  Aiming for a 7 percent share of the global market by the same time frame of 2030, with the goal of achieving an operating margin of 10 percent, 71.2 billion euros should be invested, of which 14.4 billion euros are exclusively for electrification, with 8.9 billion allocated to the development of dedicated software.

This means increasing the production capacity of electric vehicles with the deployment of a new Hyundai factory in Indonesia. Note that Hyundai continues to invest in autonomous driving, a Level 3 autonomous driving function, Highway Driving Pilot (HDP) in Hyundai’s innovation center in Singapore, which remains the base for development of processes related to electrification.

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To continue reading, do not hesitate to consult our article on Xiaomi and its production of electric cars.

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