Hyundai Motor Group has released its Chairman, Euisun Chung's message for the New Year, which outlines the company's strategic direction and commitments for the year 2021 and beyond. Calling 2021 the 'Inflection Point for Future Growth' the South Korean carmaker has announced its plans to expand its battery-electric vehicle line-up from the current 8 models to 23 by 2025. The company has also stated that by the middle of this decade it aims to sell 1 million electric vehicles annually, across its global markets.
Earlier in December 2020, Hyundai Group announced the introduction of its new electric vehicle-only platform, which uses the company's own battery technology to cut production time and costs. Called the Electric Global Modular Platform (E-GMP), Hyundai expects the new platform will allow it to use its own battery module technology across various EV models and cut the number of components by 60 per cent. Talking about the company's EV plan and the new EV platform, Euisun Chung, Chairman, Hyundai Motor Group, said, "With the launch of new vehicles based on the recently released electric vehicle platform, the E-GMP (Electric-Global Modular Platform), we plan to provide attractive eco-friendly mobility options that aptly reflect customers' diverse tastes and needs at more reasonable prices."
Hyundai says that its new E-GMP offers a multi-charging system allowing both the 800V and 400V charging capabilities. The system is said to be the world's first patented technology which operates the motor and inverter to boost 400V to 800V for stable charging compatibility. Hyundai claims that an electric vehicle based on E-GMP will offer a maximum range of over 500 kilometres on a single charge. Additionally, the technology also allows high-speed charging capability, offering up to 80 per cent charge in just 18 minutes, and can add up to 100 kilometres of driving range in just 5 minutes.
To that effect, Hyundai Motor Group aims to concentrate efforts to become a global electric vehicle powerhouse by launching dedicated electric vehicles built on the E-GMP, including Hyundai Motor's IONIQ 5, Kia's crossover electric vehicle and Genesis luxury brand's crossover electric vehicles. Moreover, the Group also plans to accelerate the creation of a hydrogen energy ecosystem, with the help of its newly launched sub-brand HTWO. The company aims to expand the supply of hydrogen fuel cell systems as power sources for ships, generators, and trains as well as global automakers. The carmaker also aims to form strategic partnerships with global companies specialising in hydrogen, energy and logistics, and focus on developing next-generation hydrogen fuel cell systems that will be applied to future eco-friendly mobility solutions such as Urban Air Mobility (UAM).
With regards to EV infrastructure, Hyundai Motor Group plans to set up 20 high-speed charging stations in Korea in 2021 and will further expand its charging network in cooperation with energy companies. Globally, the Group plans to have EV charging infrastructure optimised for market-specific environments with various partners, including IONITY, Europe's leading high-power charging network in which the Group made a strategic investment.