Major Asian OEM Hyundai has updated its future alternative energy strategy and is aiming to introduce hybrids with range extenders that can reach 900km on a single charge.
In an announcement that recommitted to its Hyundai Way strategy from 2023, it has also refocussed on hybrids and will double its range of models to 14 to take advantage of current market trends.
Hybrid sales have surged in Australia, growing y 33 per cent in 2023 and now make up one in six new cars with some market analysts predicting this trend to continue over the next five years.
But it still aims to sell two million EVs per year globally by 2030 along with being a major supplier of autonomous vehicles to software companies.
New technology
Hyundai is aiming to offer a full lineup of 21 EV models by 2030, ranging from affordable to luxury and high-performance including a new EREV models, with a range of more than 900 km on a single charge, that it plans to introduce in North America and China
It will also invest in battery technology internalisation and developing affordable NCM batteries and strengthen hydrogen technology capabilities across the value chain.
It aims to have the new long-range hybrid EREV manufactured within two years and on the road in the US by 2027.
The EREV uses a petrol engine to recharge the battery rather than as part of the drive change, distinguishing it from a normal hybrid where the iCE engine serves both purposes.
“In response to the recent slowdown in EV demand, Hyundai Motor is developing a new EREV under its Hyundai Dynamic Capabilities strategy, the statement read
“The new EREV will combine the advantages of internal combustion engines (ICE) and EVs. Hyundai Motor has developed a unique new powertrain and power electronics (PT/PE) system to enable four-wheel drive with the application of two motors. The operation is powered solely by electricity, similar to EVs, with the engine being used only for battery charging.”
Flexibility
President and CEO of Hyundai Motor Company Jaehoon Chang said the company was adapting to ensure it was a market leader in future mobility
“Under the Hyundai Way, we will respond to the market with agility thanks to Hyundai’s unique flexible response system,” Chang says.
“This will secure sustainable leadership in an uncertain market environment and strategically position the company to create a future centred on mobility and energy,”
“Hyundai will strengthen its position as a game changer by expanding beyond vehicle manufacturing to various forms of mobility. By enhancing the role of energy business operators and realizing a hydrogen society, we intend to transform into a company that can maintain global top-tier leadership in the era of energy transition.”