Hyundai Motors to ‘drive’ Electric Vehicle…Product category expansion & doubled manufacturing expected
Kim Yang Hyuk | mj@ | 2017-07-19 14:26:05
Hyundai and Kia Motors, which aim to be the second-largest eco-friendly car in the world by 2020, will expand the range of pure electric vehicles next year and increase production to more than double this year. Hybrid is expected to prepare for a full-fledged competition in the fast-growing electric car market.
According to the industry on July 18, Hyundai & Kia will release models of compact SUVs (Kona and Niro) in the first half of next year. Accordingly, Hyundai & Kia`s electric car models will be expanded to four, including Hyundai Ionic Electric and Kia Motors Soul EV. It is not competitive because of aging and cannot be purchased without order now despite there is some EVs of Kia Motors.
Besides, Hyundai and Kia plan to significantly increase the production of electric vehicles. Currently, Hyundai and Kia`s electric vehicle production volume is around 20,000 units per year. Most of the Ionic Electrics sold by Hyundai Motors take up the majority. The production capacity of the vehicle was 1,200 units at the beginning of last year, however it was reported that it increased to 1,800 units due to the surge in demand.
Once Hyundai & Kia expands the lineup of electric cars such as Kona and Niro, annual production is expected to nearly double. Meanwhile, Kona is planned to be produced 25,000 units, including 13,000 cars a year and 12,000 cars a year. Hyundai Kia`s production will increase to more than 50,000 units by adding existing Ionic electric production and Soul EV.
Hyundai and Kia are aiming for the mid-to-long-term goal of becoming the second-leading green car company by 2020. According to IHS, a US market research company, Hyundai has already sold 108,000 eco-friendly cars last year, ranking fourth after 2015, however, 11th in electric vehicle sales. Hyundai and Kia sold 12,292 electric vehicles last year. Considering that the sales volume of the top 10 companies excluding Renault-Nissan and Tesla, which compete with the first and second place with annual sales of 70,000 units, is between 16,000 and 50,000 units, Hyundai and Kia Motors may expect to see a change in their ranking due to capacity expansion. A Hyundai-Kia Automotive Group representative said, "We ranked third in sales of electric vehicles among the automakers selling more than 2 million units last year.”
Electric vehicles in the global eco-friendly market are booming every year. According to the International Energy Agency (IEA), the number of newly registered pure electric vehicles in the year was 461,000, more than 140,000 units over the previous year. The number of registered electric vehicles including plug-in hybrid (PHEV) is over 2 million units in 2016, and IHS, a market research company, expects to increase to 7.7 million units by 2020.
By Kim Yang Hyuk mj@
[ copyright ⓒ The Digitaltimes ]
According to the industry on July 18, Hyundai & Kia will release models of compact SUVs (Kona and Niro) in the first half of next year. Accordingly, Hyundai & Kia`s electric car models will be expanded to four, including Hyundai Ionic Electric and Kia Motors Soul EV. It is not competitive because of aging and cannot be purchased without order now despite there is some EVs of Kia Motors.
Besides, Hyundai and Kia plan to significantly increase the production of electric vehicles. Currently, Hyundai and Kia`s electric vehicle production volume is around 20,000 units per year. Most of the Ionic Electrics sold by Hyundai Motors take up the majority. The production capacity of the vehicle was 1,200 units at the beginning of last year, however it was reported that it increased to 1,800 units due to the surge in demand.
Once Hyundai & Kia expands the lineup of electric cars such as Kona and Niro, annual production is expected to nearly double. Meanwhile, Kona is planned to be produced 25,000 units, including 13,000 cars a year and 12,000 cars a year. Hyundai Kia`s production will increase to more than 50,000 units by adding existing Ionic electric production and Soul EV.
Hyundai and Kia are aiming for the mid-to-long-term goal of becoming the second-leading green car company by 2020. According to IHS, a US market research company, Hyundai has already sold 108,000 eco-friendly cars last year, ranking fourth after 2015, however, 11th in electric vehicle sales. Hyundai and Kia sold 12,292 electric vehicles last year. Considering that the sales volume of the top 10 companies excluding Renault-Nissan and Tesla, which compete with the first and second place with annual sales of 70,000 units, is between 16,000 and 50,000 units, Hyundai and Kia Motors may expect to see a change in their ranking due to capacity expansion. A Hyundai-Kia Automotive Group representative said, "We ranked third in sales of electric vehicles among the automakers selling more than 2 million units last year.”
Electric vehicles in the global eco-friendly market are booming every year. According to the International Energy Agency (IEA), the number of newly registered pure electric vehicles in the year was 461,000, more than 140,000 units over the previous year. The number of registered electric vehicles including plug-in hybrid (PHEV) is over 2 million units in 2016, and IHS, a market research company, expects to increase to 7.7 million units by 2020.
By Kim Yang Hyuk mj@