Hyundai CEO Investor Day: Hyundai to focus on EVs and hybrid models
Hyundai recently held its 2024 CEO Invester Day where it laid out a strategy for the future, called the Hyundai Way, especially revealing plans about the new cars. It not only reaffirmed the electric vehicle (EV) expansion and sales plans but also announced a new hybrid vehicle strategy, and advancements regarding battery and autonomous vehicle technologies. For India, Hyundai announced at the event that it has taken over a facility in Pune, which will allow it to produce one million units annually.
While the company stated its EV plans, it also emphasis importance of hybrid vehicles with an aim to increase hybrid vehicles in its line-up. A statement released by Hyundai said, "the company intends to leverage its expertise to further bolster its position in the hybrid market under its new Hyundai Dynamic Capabilities strategy, a flexible response to the market based on core capabilities".
With this, the brand intends to expand its hybrid system beyond compact and midsize cars to small, large, and luxury vehicles, doubling its current range from seven to 14 models. This expansion will not only include Hyundai cars but also its vehicles of Genesis.
Not to mention, Hyundai has announced the introduction plan for the new generation TMED-II system. This improved version of promises greater performance and fuel efficiency compared to the existing system. It will be integrated into the cars starting from January 2025. Additionally, the vehicles will be get smart regenerative braking and V2L. Hyundai plans to boost the sales of its hybrid vehicles. By 2028, it aims to sell 1.33 million units, an increase of over 40 per cent of its global sales plan from the previous year.
- Targets 5.55 million annual global sales by 2030, up 30 per cent from 2023
- Aims to sell 2 million EVs per year globally by 2030
- Plans new EREV models, which is a new type of EV with a range of over 900km, in North America and China-
- Intends to offer a full line-up of 21 EV models by 2030
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