Also Hyundai begins to outline its electrification strategy for the future. On the occasion of the CEO Investor Day 2022, the number one of the Korean group, Jaehoon Chang, unveiled the roadmap and the initiatives that the company intends to implement in the coming years to keep up with rivals such as Stellantis, which instead presented the own business plan yesterday. And just like in the case of the company born from the merger between FCA and PSA, Hyundai also looks to the future with a high priority above all: the electric.
The goal of the Korean group is to get to sell 1.87 million BEVs per year by 2030, at the same time strengthening its line-up with 17 new battery-powered models to be introduced by the end of the decade: 11 of these will be branded Hyundai, the remaining 6 instead Genesis. To increase the production capacity of battery-powered vehicles, mainly focused on regions where the registered demand is very high, the company is evaluating the possibility of adding a new production plant dedicated to the construction of this type of vehicle. As for batteries, however, the number one goal is maximize its efficiency: this is why Hyundai intends to develop new generation battery technologies that will then power the future electric models of the two brands of the group, Hyundai and Genesis.
Chapter investments. The Korean group seems to have clear ideas in this respect: around 9 billion euros will be destined to increase the competitiveness of software in sectors such as autonomous driving and connectivity, while just over 14 billion euros will be dedicated to the electrification process. of the range. By doing so, by 2030 Hyundai aims to achieve the goal of a 10% operating profit margin or higher in electric vehicles, increasing the volume of sales and innovating the cost structure: estimates on the increase in turnover speak of approximately + 14%.
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