Hyundai and Kia: Expanding HEV/EV models, strengthening US business Hyundai strengthening HEV & hydrogen strategy, Kia pursuing EV & PBV market strategy Summary Hyundai Motor Group global sales volume Hyundai Group production sites (after 2024) Hyundai's mid- to long-term plan: Strengthening development of HEVs and EREVs, expanding to 21 EV models Kia's mid- to long-term plan: Investing KRW 38 trillion over 5 years in electrification, PBV, and SD...

Market & Tech Reports  Updated at: 2025/04/07

100% in Europe, 30% in Japan, and 30% in India, and battery-lean BEVs/HEVs would be developed. In India, the company plans to develop engines for biogas ICE vehicles and build biogas production plants (Manesar Plant to begin operation in July 2024, with four plants in Gujarat from 2025 onwards).   Hyundai Hyundai Motor Company initially planned to sell 1.87 million EVs per year by 2030, but in June 2023 it announced an acceleration of its EV shi...

Market & Tech Reports  Updated at: 2024/10/18

Korean Market and OEM Activities: Slowdown in EV Demand, Expanding HV lineup Hyundai and Kia to build EV plants in Korea, battery joint venture plants with LGES/SK On in the US Summary Korean government: Aiming to have 4.2 million EVs on the road by 2030, continuing EV subsidies in 2024 Korean vehicle production capacity is 4.48 million units, Hyundai and Kia building EV dedicated plants Hyundai Motor Group’s electrification strategy Hyundai Mo...

Market & Tech Reports  Updated at: 2024/07/25

Korean Market and Brands: Public and Private Sectors Building EV/Battery Production Capacity Kia to set up electric PBV plant in Korea, Hyundai to construct EV plant in U.S. Summary Korean government: Planning to produce 3.3 million EVs by 2030, granting EV subsidies of up to KRW 5 million Korean automaker production capacity is 4.5 million units, with the Hyundai Motor Group accounting for 78% of the total Hyundai Motor Group’s electrification...

Market & Tech Reports  Updated at: 2023/07/05

Hyundai to sell 1.87 million EVs a year by 2030 Enhancing software for connectivity and autonomous driving, developing fuel cell commercial vehicles Summary Hyundai: Introducing 17 new EV models by 2030 Hyundai’s new EV model launch plan: New Kona, Ioniq 7, and Genesis GV90 to be released in 2023 Kia to sell 1.2 million battery EVs annually by 2030 Kia’s new EV model launch plan: Introducing EV dedicated models including EV9, EV7, and EV4 SUV...

Market & Tech Reports  Updated at: 2023/03/17

Korean market and domestic brand trends: Semiconductor shortages reducing production and sales Hyundai Group accelerates electrification, Korean government presents battery strategy Summary Korean government policies: Tax break extension, joining RCEP, and battery strategy Domestic market share: Hyundai Group declines to 61%, imports’ share grows to 16% Production volume: Declining to 3.462 million units in 2021, down by 1.3% y/y Korean automak...

Market & Tech Reports  Updated at: 2022/03/01