After successfully strengthening its future mobility strategy last year, Hyundai Motor will further ramp up its electrification activities in 2021.
The company aims to achieve both quantitative and qualitative growth in Europe, growing its sales volume as well as increasing the value its products bring to its customers. A key element will be the launch of IONIQ 5, the first model built on Hyundai Motor Group’s BEV-dedicated E-GMP, as well as introducing a number of new measures focused on customer centricity.
Michael Cole, President & CEO Hyundai Motor Europe said, “Last year was exceptionally important in our transition to future mobility. We made the investment to electrify nearly our entire fleet. This year, we plan to harvest the fruits of that investment by maintaining our strong market share and selling more EVs than ever before.”
Quantitative growth: EV sales and overall share expected to remain strong in 2021
Hyundai’s investment in future mobility is paying off: the company sold nearly 60,000 battery-electric and fuel cell electric vehicles in Europe in 2020, representing 13 per cent of its European sales. This placed it at the forefront of the industry. Hyundai expects to maintain its position as the mainstream manufacturer with the highest proportion of ZEVs sold in 2021, and plans to increase the number of units sold every year.
Hyundai’s strategy towards zero-emission mobility and the high proportion of ZEVs among its new car sales were key factors enabling the company to meet its CO2 target.
Globally, Hyundai will launch more than 12 additional BEV models in the next four years, starting with IONIQ 5. By 2040, Hyundai plans to have fully electrified its global vehicle line-up and aims to account for 8-10 per cent of the global EV market. By 2025, the company plans to sell 560,000 BEVs per year worldwide to become one of the top three manufacturers of zero-emission vehicles.
This follows a widespread programme of fleet renewal and electrification. Hyundai started 2021 with one of the youngest model line-ups in Europe, with 95 per cent of its fleet less than 18 months old. Last year, Hyundai introduced electrified versions for more than three-quarters of its available models in Europe. Today, Hyundai models represent the most diverse range of powertrains on the market, from petrol and diesel internal-combustion engines to mild hybrid, full hybrid, plug-in hybrid, battery electric, and even hydrogen fuel cell vehicles.
Hyundai currently offers 15 electrified models and derivatives in Europe. Of these, 11 were newly-launched or enhanced in 2020, including one model which is completely emissions-free: KONA Electric.
Qualitative growth through innovative, all-new IONIQ 5
The next step in the company’s electrification strategy will focus on qualitative growth. Hyundai will soon launch the all-new IONIQ 5, the first model of its new IONIQ line-up brand. The all-new IONIQ 5 is a dedicated BEV which is expected to be both a brand shaper for the company and a game-changer in the industry. It will feature 800-volt high-speed charging, Vehicle to Load (V2L) technology, and a high-tech, innovative design, along with other innovations enabled by its E-GMP platform. With this competitive line-up the company expects to further gain market share in Europe in 2021.
Beyond the numbers, Hyundai also plans to strengthen its role as a smart, responsible member of society that provides sustainable mobility solutions. It will do this by increasing its customer centricity, delivering high-quality mobility experiences and supporting charging infrastructure for EV customers.
In the upcoming years, Hyundai will further foster the development of zero-emission infrastructure, including charging points and hydrogen refueling stations. The company’s initiative Hyundai Hydrogen Mobility has already delivered over 50 XCIENT Fuel Cell trucks to Switzerland. Each truck can potentially save 32 tonnes of CO2 per year as compared to a diesel truck, resulting in a significant emissions reduction. The program plans to deliver over 1,600 XCIENT Fuel Cell trucks to Switzerland by 2025.
With its strong commitment to eco-mobility and improving peoples’ lives, it is Hyundai’s goal to reduce emissions and transform society into an emissions-free environment, in line with its Progress for Humanity vision.