Although Hyundai now says it will bet much more on hybrid cars, the brand still has a goal of selling 2 million electric cars by 2030.
In connection with the so-called 2024 CEO Investor Day, Hyundai told the public, its shareholders and employees that the brand is changing its strategy.
Now, to a far greater extent than before, it must be about hybrid cars. Hyundai calls the plan the ' Hyundai Way '. Something that i.a. means that the brand will increase its sales from 4.2 million cars (2023 figures, ed.) to 5.55 million cars in 2030.
Of these, 2 million cars alone must run on electricity, while a total of 21 electrified models – i.e. hybrids – must give further impetus to sales.
At the same time, Hyundai acknowledges that interest in electric cars is declining. They will try to solve this with so-called EREV models. In other words, electric cars with a tiny petrol engine as a range extender.
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Something we already know from also Japanese Mazda. Here, the small MX-30 is an example of an electric car with a petrol engine as a range aid. Mazda even uses a wankel engine for the task.
The same is unlikely to happen at Hyundai. Primarily because Mazda is the only car brand currently working with engine technology. Still, Hyundai believes the concept makes sense.
In any case, the top management says that in this way they will have electric cars with a range of over 900 kilometers on the same full tank. In this way, the cars will also be noticeably less dependent on the roll-out of an infrastructure of charging stations.
Exactly how many markets the new "Hyundai Way" strategy will apply to and on is yet to be seen. But it is certain that the brand in the US alone aims to sell 690,000 hybrids by 2030 at the latest.
The South Koreans aren't the only ones currently backing off when it comes to electric cars. Several of the major European brands – and brands with a European presence – have recently said that they cannot do without the internal combustion engine after all. Read more about it here .
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