Hyundai Announces 2030 Plan: to become one of the top 3 EV Manufacturers

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Last updated on May 1st, 2023 at 03:01 pm

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    Hyundai has announced its 2030 plan. It shared the new investments to be realized until that date. The brand aims to become top 3 EV manufacturer by 2030.

    $ 18 Billion for EVs

    Hyundai Motor Group announced its investment plan at the groundbreaking ceremony of a new facility. Aiming to be one of the world’s top 3 manufacturers of electric cars by 2030, Hyundai has allocated an additional budget of $18 billion for this purpose.

    The Group aims to increase annual electric vehicle (EV) production in Korea to 1.51 million units by 2030, while also planning to increase global volume to 3.64 million units. Taking concrete steps to realize all such plans and goals it has announced, Hyundai also supports new innovations that will develop the EV ecosystem and the global automotive industry. Supporting local manufacturers, R&D centers and EV-related industries, Hyundai will also significantly promote the supply chain.

    EV Production Capacity Increasing

    While Hyundai is building new factories and facilities for electric models, it is also expanding lines at the factories to increase the production capacity of the EVs it already produces. The group also announced that it will invest heavily in R&D to develop platforms for next-generation EVs, enrich product lines, and offer more advanced technologies.

    Bolstering Competitiveness

    The brand will also encourage the development of high-level technological equipment with its other partners in the sector. In addition to all these innovations, it will also increase integration across hardware and software, including the development of advanced technologies that will increase the range in electric vehicles.

    The Group will also provide special consultancy services to suppliers who want to develop new business strategies for the future and explore new business lines. In addition, it will provide training support to the managers and employees of the companies to develop the mobility skills of the future.

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