Hyundai & Kia Motors to increase EV volume up to 100k annually
[ Kim Yang Hyuk mj@ ] | 2017-10-24 10:51:42
[Digital Times, Kim Yang-hyuk] Hyundai and Kia Motors decided to increase the number of Kona and Niro electric vehicles to be released next year to about 20,000 units each, respectively. If Hyundai Motor (Hyundai) and Hyundai (PHEV), including Sonata and K5 plug-in, are added to the existing Ioniq and Soul electric vehicles (EV), Hyundai-Kia`s electric vehicle production capacity is expected to exceed 100,000 units next year. As such, Hyundai-Kia Automotive is expected to rapidly increase its production of electric cars and keep its No. 2 position in the fast-changing global eco-friendly market and pursue Toyota in the first place.
According to the industry on October 23, Hyundai & Kia Motors have set the annual production volume of Kona EV and Niro EV to be released next year at 18,800 units and 21,000 units respectively. This is an increase of 38% and 66%, respectively, compared with the production plan originally set up by the company last year.
The fact that Hyundai & Kia Motors raised the annual production volume of electric cars to be released in the future will be interpreted as the `learning effect` of the existing Ioniq Electric. Hyundai Motor Co., Ltd. (HMC) last month revealed that its production capacity of Ioniq Electric has reached 1,000 units per month, but the demand has surged more than expected and the production capacity has increased to 1800 units per month. However, as the order has been pushed out, it is still in trouble to supply until the first year after its launch. The Ministry of Environment, which is responsible for the private supply of EVs, also pointed out that Hyundai`s supply shortage is the reason for the failure to achieve the target number of EVs that were scheduled to be distributed last year.
As Hyundai and Kia Motors will significantly increase the number of electric vehicles to be released next year, the annual production of electric cars (excluding hybrid cars) will exceed 100,000 units. Currently producing electric cars are Ionic Electric and Soul EV, which is about 20,000 units per year. There are more than 40,000 models of plug-in hybrid (PEHV) models such as Ioniq, Niro, Sonata and K5 on annual basis. The annual output of Kona EV and NILO EV to be launched next year is about 40,000 units, so if all of them are added, the electric car production will exceed 100,000 units.
According to market researcher IHS Markiy, Hyundai & Kia sold 102,480 eco-friendly cars in the first half of this year, pushing Honda to second place. The company achieved the goal of "second place in the global eco-friendly car market by 2020" in June last year, more than three years earlier. Of the eco-friendly cars sold in the first half of this year, sales of electric cars increased by 151.7% from the previous year`s 3949 to 9936, showing the highest growth rate. In the first half of this year, Toyota sold 598,166 units. But many of Toyota`s sales are hybrid cars.
Also, Hyundai and Kia plans to launch 31 more eco-friendly cars by 2020. Among them, there are eight electric vehicles and 11 plug-in hybrids (PHEVs). If two hydrogen electric vehicles are included, the proportion of electric cars among all eco-friendly vehicles will increase to about 70%. Hyundai and Kia currently account for 50% of the eco-friendly cars they sell.
By Kim Yang Hyuk mj@
[ copyright ⓒ The Digitaltimes ]
According to the industry on October 23, Hyundai & Kia Motors have set the annual production volume of Kona EV and Niro EV to be released next year at 18,800 units and 21,000 units respectively. This is an increase of 38% and 66%, respectively, compared with the production plan originally set up by the company last year.
The fact that Hyundai & Kia Motors raised the annual production volume of electric cars to be released in the future will be interpreted as the `learning effect` of the existing Ioniq Electric. Hyundai Motor Co., Ltd. (HMC) last month revealed that its production capacity of Ioniq Electric has reached 1,000 units per month, but the demand has surged more than expected and the production capacity has increased to 1800 units per month. However, as the order has been pushed out, it is still in trouble to supply until the first year after its launch. The Ministry of Environment, which is responsible for the private supply of EVs, also pointed out that Hyundai`s supply shortage is the reason for the failure to achieve the target number of EVs that were scheduled to be distributed last year.
As Hyundai and Kia Motors will significantly increase the number of electric vehicles to be released next year, the annual production of electric cars (excluding hybrid cars) will exceed 100,000 units. Currently producing electric cars are Ionic Electric and Soul EV, which is about 20,000 units per year. There are more than 40,000 models of plug-in hybrid (PEHV) models such as Ioniq, Niro, Sonata and K5 on annual basis. The annual output of Kona EV and NILO EV to be launched next year is about 40,000 units, so if all of them are added, the electric car production will exceed 100,000 units.
According to market researcher IHS Markiy, Hyundai & Kia sold 102,480 eco-friendly cars in the first half of this year, pushing Honda to second place. The company achieved the goal of "second place in the global eco-friendly car market by 2020" in June last year, more than three years earlier. Of the eco-friendly cars sold in the first half of this year, sales of electric cars increased by 151.7% from the previous year`s 3949 to 9936, showing the highest growth rate. In the first half of this year, Toyota sold 598,166 units. But many of Toyota`s sales are hybrid cars.
Also, Hyundai and Kia plans to launch 31 more eco-friendly cars by 2020. Among them, there are eight electric vehicles and 11 plug-in hybrids (PHEVs). If two hydrogen electric vehicles are included, the proportion of electric cars among all eco-friendly vehicles will increase to about 70%. Hyundai and Kia currently account for 50% of the eco-friendly cars they sell.
By Kim Yang Hyuk mj@