Hyundai's Billion Dollars of Investments To Boost EV Shift in Canada and Calgary
June 06 2023,
Like many automakers, Hyundai has planned to enter the EV market by 2030 and create economical, eco-friendly, convenient, stylish, and feature-rich cars. However, there aren’t too many car makers exploring the EV market right now.
To take maximum control of the EV market, Hyundai, Genesis, and Kia plan to make the largest-ever investment in EV production. Although multiple car makers are introducing electric vehicles in the market, the major issue with these vehicles is that they are not readily available, or only a few are being manufactured.
Hyundai plans to increase its output to a vast number worldwide and is looking to launch at least 1.51 million units in Korea alone by the end of the decade. If this is a successful run for Hyundai, they will confidently own about 40% of the EV market worldwide. While Hyundai only has two EV models in the market, by 2030, they plan to offer about 31 fully electric models in collaboration with subsidiaries. Seventeen of these EVs will be in partnership with Genesis and fourteen with Kia.
The current electric vehicles under Hyundai are power packed with performance, style, and class. However, unlike other electric cars in the market, they come at a much better price point and have all the latest features, including technology, safety, and styling. That’s what makes these EVs stand out from the rest.
IONIQ 5
The IONIQ 5 is another popular EV introduced by Hyundai. Available in four trims, this classy crossover can seat up to five passengers and delivers a range of 354 km. While it’s not as powerful as the Kona, it still packs quite a punch with a horsepower of 168 and torque of 258 lb-ft. This car has a rear-wheel drivetrain with a single-speed reduction gear transmission.
KONA Electric
The Kona is one of the fully electric vehicles available under Hyundai's flagship. The car delivers an impressive battery range of 415 km and is a powerful ride with a horsepower of 201 and a torque of 290 lb-ft. The Kona is available in three trims and can seat five passengers. It’s one of the first electric vehicles to be powerful and deliver a good battery range. It comes across with most of the conventional features you’ll find in a gasoline vehicle.
Conclusion
While this is only the beginning of Hyundai’s venture into the EV market, the future seems bright from what we see so far. With the proper collaboration and investment, Hyundai appears to be on the right path to opening up a broader horizon for the EV market.
