Slowing The Request For Electric Cars, Hyundai Will Present The EV Model

Hyundai Ioniq 5. (Photo: Afrizal / VOI)

South Korean automotive manufacturer Hyundai Motor Group confirmed it would develop a new electric vehicle, to bridge the gap towards full electrification amid the slowdown in demand for Battery Electric Vehicle (BEV).

Quoting from the Paultan page, Thursday, August 29, this certainty was expressed in the agenda of the CEO of Investor Day 2024. Titled 'Hyundai Way', this one strengthens the global sales strategy of electrified vehicles in the medium and long term.

Later, focus is not only on pure or hybrid electric vehicles, but also on Extended Range Electric Vehicle (EREV) which will combine the advantages of internal combustion engines (ICE) and EVs and generate a combined range of more than 900 km.

"Under Hyundai Way, we will respond to the market agilely thanks to Hyundai's unique flexible response system. It will also guarantee sustainable leadership in a market environment full of uncertainty and strategically place the company in creating a future centered on mobility and energy," said Hyundai Motor Company President and CEO Jaehoon Chang, quoted from his official website.

Furthermore, he said, Hyundai will strengthen its position as a game changer by expanding more than just vehicle manufacturing, to various forms of mobility.

"By increasing the role of energy business players and realizing the hydrogen community, we intend to transform into a company that can maintain global top-level leadership in the energy transition era," he added.

Hyundai plans to install this powertrain in the Hyundai and Genesis D segment SUV in the US and segment C models in China by the end of 2026, with sales targets of more than 80,000 and 30,000 units, respectively.

In addition, the company also wants to expand its hybrid product lineup by introducing a second-generation Transmission Mounted Electric Device (TMED-II) in January next year, which it says offers increased performance and fuel efficiency over existing models.

Interestingly, a new model from Hyundai (EREV) will also come with features borrowed from pure electric vehicles, such as regenerative braking to vehicle-to-load (V2L) features.

Through this strategy, Hyundai aims to expand the ranks of existing compact and medium hybrid vehicles to include small, large, and luxurious vehicles.