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Hyundai wants to make 17 electric cars by 2030, including an unprecedented one

Hyundai has just, through the voice of its CEO, presented its plan for electric cars. 17 models are expected by 2030.

The automotive world is perhaps going through the biggest change in its history. After a century of producing thermal cars, manufacturers must now move towards electrifying their car fleet.

While all manufacturers will be required to make this change in the coming years, some seem more enthusiastic, or at least more ready, than others. This is for example the case of Hyundai which has planned to launch 17 electric cars by 2030. A very bold bet for the Korean brand which is 100% on electric, despite the problems that this new technology exposes.

A big program for the car group

In a discussion with investors, the CEO of Hyundai, Jaehoon Chang gave very interesting details on the strategic choices made by the automaker. First of all, you should know that the 17 cars will not all come out with the Hyundai badge. Indeed, Chang has announced that 6 of these models will come from the “Genesis” brand, a high-end subsidiary of Hyundai.

A logical announcement when we know that the group had already planned to switch Genesis to 100% electric production by 2025. As for Hyundai, and the remaining 11 cars, Chang explained that they will be produced with a $16 billion investment.

An ambitious objective in the electricity market

According to Chang’s announcements to its investors, this should allow the brand to take up to 7% of the market share for electric cars. Concretely, Hyundai hopes to sell 1.87 million cars per year by 2030.

As for the cars themselves, again Chang gave plenty of details. The brand’s CEO assured that three of them should be sedans, six others will be SUVs, while Hyundai should also offer a commercial vehicle (similar to the Peugeot Partner that we know so well). And finally, the 11th and last expected car should be of a whole new kind according to Chang’s announcements.

Hyundai falls into line, nothing more

If Hyundai’s plans may seem aggressive, several experts working for Reuters have finally qualified their comments by comparing the sums invested. Other manufacturers such as neighboring Toyota or the American General Motors have invested a lot more money in electric vehicles. They should also expect that the returns on investment, ie sales, will be much higher than what Hyundai is hoping for.

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