Chairman Euisun Chung delivers a New Year's message.
The Hyundai Motor Group is currently in the midst of its most aggressive expansion plan to date. Alongside the Hyundai, Kia, and Genesis brands, there's the new EV-only Ioniq sub-brand that will launch this year, R&D investments in hydrogen fuel cell powertrains and related systems, and the group’s involvement in motorsport.
The company's Chairman, Euisun Chung, has just announced several updates outlining the automaker's strategic plan for this year and beyond, two of which caught our attention.
The first was an official announcement confirming Genesis will launch an all-electric crossover later this year alongside the all-new Genesis GV80 and GV70. In addition, Kia is also set to reveal its own battery-powered crossover. The Ioniq 5, based on the Hyundai 45 concept, will debut in only a few months' time.
The Genesis EV crossover revelation is not a big surprise as there were reports of its existence exactly a year ago. All three new vehicles will utilize a dedicated EV architecture called the Electric-Global Modular Platform, or E-GMP. Hyundai says this platform offers a multi-charging system with both 800-V and 400-V charging capabilities.
This patented system and platform duo enable a vehicle to achieve a range of over 310 miles on the less stringent WLTP cycle on a single charge. It can also charge up to 80 percent in only 18 minutes add up to 62 miles of range in only five minutes. By 2025, the Group intends to have 23 E-GMP-based battery electrics across its multi-brand lineup. The goal is to sell at least one million units annually.
“With the launch of new vehicles based on the recently released electric vehicle platform, the E-GMP (Electric-Global Modular Platform), we plan to provide attractive eco-friendly mobility options that aptly reflect customers' diverse tastes and needs at more reasonable prices,” Chung said. “Furthermore, our hydrogen fuel cell technology, recognized as the world's most advanced, will be expanded to diverse mobility and industrial sectors to help achieve carbon neutrality under the 'HTWO (Hydrogen + Humanity)' brand.”
Also this year, Hyundai will launch 20 fast-charging stations in South Korea and will continue to expand its European charging network with its strategic partner, Ionity.