Hyundai $80 Billion E-Mobility Strategy Based On All New EV Platform
to invest $80 billion to achieve its latest Hyundai Motor Way vehicle electrification strategy. Of that total amount, about $40 billion will be dedicated to developing next generation batteries and creating an all new platform for future electric cars known as Integrated Modular Architecture.which underpins the current electric car offerings from Hyundai, Kia, and Genesis.
The company has formed a dedicated organization for each function required for battery development and is securing/training specialized personnel. It is also improving battery performance, developing advanced technologies for next generation batteries and building infrastructure. It also says it will introduce more models powered by LFP battery cells to meet the specific needs of different markets. The company is also pursuing ways to stabilize material supply.
The Robotics Lab will also developing cognitive judgment technology, natural language, spatial navigation and movement, and differentiated mobile platform technologies — services that will create new value for customers through a robot management system, motion sensing wearable robots MEX, VEX and CEX, and multi-purpose mobile platforms MobED and DAL-e.
The proportion of global EV production is set to increase from 8 percent this year to 34 percent in 2030. The company plans to expand production by region through a two-track approach of line conversion in ICE factories and new dedicated EV plant establishment. Hyundai’s first dedicated EV factory is the Metaplant America in Georgia, which is expected to begin producing up to 300,000 cars annually by the end of 2024. A second EC only factory is under construction in South Korea and will start production in 2025.
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