Hyundai Motor to release 38 green cars by 2025
kicker: Automaker feels the need to get its hands on EV battery technology

By Kim Bo-gyung

South Korea’s Hyundai Motor has pledged to roll out 38 green car models by 2025 from the current 13, pursuing a two-track strategy centered on electric vehicles and fuel cell electric vehicles.
The company shared its road map for green cars during a seminar held at Hyundai Motor Studio in central Seoul last week.
In the first quarter of 2018 Hyundai will launch the next generation fuel-cell electric vehicle with a driving distance of 590 kilometers, the company said.
In a push to catch up with rivals in the global electric vehicle market, Hyundai will introduce at least one electric vehicle model every year and offer 14 models by 2025, the company said.
Hyundai’s electric vehicle portfolio is made up of the Ioniq EV and Soul EV.
The automaker is scheduled to release an electric version of Kona compact SUV that can travel 400 kilometers on full charge next year, followed by a Genesis EV in 2021.
On tighter regulation and government subsidy, the worldwide green car market is expected to reach 23.3 million units in 2025 from last year’s 2.35 million, according to global consultancy Roland Berger.
US-based marketing information services company JD Power projected the market to grow to 9.78 million units by 2025.
Along with global IT and automotive companies, Hyundai is also striving to self-develop electric vehicle batteries, one of the most important component in EVs.
“Regardless of whether we enter the battery biz, we believe Hyundai needs to have the technology (to produce batteries),” said Lee Ki-sang, senior vice president and head of Hyundai’s eco-friendly vehicle R&D center.
As Hyundai lacks the purchasing power for materials and experience in battery production, Lee said it was more advantageous to partner with battery makers for now.
“We are aware that Fiat Chrysler Automobiles is seeking a technical partnership,” Lee said when asked about a technical collaboration with FCA.
“As for now I can tell you, we are talking through appropriate channels.”
But Hyundai Motor later explained that Lee’s comments referred to how there are internal discussions in preparation for such discussions with the FCA and that was no specific progress for now.
Earlier this month FCA CEO Sergio Marchionne said his company was in talks with Hyundai over collaborating in hydrogen fuel cell vehicles, which the Korean automaker denied.
Lee added, most automakers are keen to get their hands on the technology to make fuel cell cars, which Hyundai, Japan’s Toyota and Honda are capable of mass producing. (lisakim425@heraldcorp.com)