Hyundai plans to secure a large-scale investment of nearly $84 billion over the next 10 years and focus on future businesses such as autonomous driving, hydrogen, robotics, and advanced air mobility, in addition to advancing its electric vehicle technology.
One of the key components of Hyundai's strategy is the introduction of a next-generation modular architecture for electric vehicles (EVs). This new platform, called Integrated Modular Architecture (IMA), will replace the current Electric-Global Modular Platform (E-GMP) and be used for 13 new dedicated EV models across Hyundai, Kia, and Genesis brands by 2030. The IMA platform will standardize modules and parts, leading to cost reductions and simplifying EV development.
Hyundai Motor plans to strengthen its EV production capacity and battery development capabilities. It will invest $27.6 million n for electrification as part of the overall financial commitment to enhancing technologies. The company aims to achieve annual EV sales of 2 million units by 2030. Additionally, Hyundai plans to reinforce its manufacturing capacity by converting existing internal combustion engine factories into EV production lines and establishing new dedicated EV factories in key regions.
Battery development is a crucial aspect of Hyundai's strategy. The company plans to invest $27.5 billion over the next 10 years to enhance its internal battery development capabilities and collaborate with external partners. It will focus on next-generation batteries, including solid-state batteries and lithium metal batteries. Hyundai is also strengthening its battery management system to ensure optimal battery performance and safety.
Hyundai is not only focusing on electrification but also advancing in autonomous driving, robotics, and advanced air mobility. The company plans to launch an IONIQ 5-based driverless robotaxi business in Las Vegas in collaboration with Motional, a joint venture with Aptiv. Hyundai is actively enhancing its software development capabilities to provide new mobility experiences through software-defined vehicles.