Hyundai has introduced new particulars concerning its short-term and long-term electrification plans at its 2023 CEO Investor Day. Hyundai plans to speculate Korean gained 109.4 trillion (roughly Rs 6,93,211 crore) within the subsequent 10 years in its transition to turn into a “smart mobility solution provider”. 

1. Hyundai’s new IMA platform will permit EVs to cater to extra segments
2. It’s engaged on growing solid-state batteries
3. Hyundai plans to promote 2 million EVs yearly by 2030 globally

Hyundai’s electrification plans

Out of the aforementioned quantity, Hyundai plans to speculate KRW 35.8 trillion (roughly Rs 2,26,852 crore) in the direction of electrification. This contains an funding of KRW 9.5 trillion (roughly Rs 60,198 crore) in the direction of battery growth and the rest for growing the next-gen modular EV structure and rising manufacturing capability for EVs.

The new EV platform will likely be based mostly on the brand new Integrated Modular Architecture (IMA) and can change the present Electric Global Modular Platform (E-GMP). With the IMA, Hyundai plans to have extra standardised modules and components to additional increase economies of scale and cut back EV growth prices. The carmaker mentioned the IMA platform will permit components sharing throughout completely different automobile segments and physique kinds. With the E-GMP, Hyundai is just producing midsize SUVs, however the IMA will assist it produce small to massive EV SUVs, pickup vehicles in addition to flagship fashions for Genesis. 

By 2030, the carmaker plans to introduce 13 new EV fashions beneath the Hyundai, Kia and Genesis manufacturers. It additionally introduced that it has set a aim of promoting two million EVs yearly by the tip of the last decade globally. It additionally has plans so as to add extra EV manufacturing traces at its present vegetation in India, the US, South Korea and the Czech Republic, as and when market demand will increase.

Hyundai’s new batteries

Hyundai said that it has plans to make use of a wide range of batteries, together with the brand new variations of Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) batteries, with the IMA platform. Alongside, it says it intends to make use of an AI-based battery administration system that may permit real-time battery administration and analysis of battery circumstances.

For the long run, the carmaker is planning on partnering with corporations like Solid Power and SES that specialize in solid-state and lithium-metal batteries, respectively. It additionally talked about that it’s going to announce its plans for hydrogen on the Consumer Electronics Show (CES 2024). 

Hyundai EVs in India

Currently, Hyundai India sells the Ioniq 5 EV, which is priced at Rs 45.95 lakh (ex-showroom, India). Kia, additionally beneath the Hyundai umbrella, sells the EV6 right here, which is priced between Rs 60.95 lakh-65.95 lakh (ex-showroom, India). 

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