Hyundai Motor will reduce the number of models with gasoline and diesel engines in its range – thus the concern will free up resources for investments in the development of electric vehicles, the Reuters news agency reported, citing its sources. Recall that the Korean concern produces cars of the brands Hyundai, Kia, Genesis and Ioniq.
It is said that the number of cars with internal combustion engines will be halved, and this decision has already been approved by the top management of Hyundai Motor. The company’s priorities are electric propulsion and the development of battery technology to extend the range of electric vehicles on a single charge. In addition, Hyundai will continue to invest in hydrogen fuel cells.
A Reuters source claims that there will be no new ICEs in the Hyundai range – all research and development work in this direction has been stopped. Today Hyundai-Kia is among the top 10 companies with the widest lines of internal combustion engines and transmissions for them.
Hyundai plans to increase the production of clean electric vehicles to one million per year in four years. The main markets for gasoline and diesel Hyundai and Kia in the medium term will be developing countries, while in the United States, the European Union and China, the company expects to expand the range of electric trains (by 2040, Hyundai will offer only electric vehicles there).
The plan to phase out the internal combustion engine was stimulated by the tightening of environmental requirements for cars in the European Union and the United States.
Recall that in December 2020, the Korean concern presented the first universal modular platform for electric vehicles, it was given the designation E-GMP, and in February the debut of the Ioniq 5 electric hatchback, created on this “cart”, took place. Later, the company will create on its basis a whole brood of new models of classes B-, C- and D-, that is, in the case of crossovers similar in size to the current Creta, Tucson and Santa Fe, respectively.