[News Article] Hyundai Motor to accelerate EV transition
Hyundai Motor to accelerate EV
By Kim Hyun-bin, The Korea
Times - Hyundai Motor Group Executive Chair Chung Euisun called on employees to
build trust and take a leap forward to better overcome external challenges
during a New Year address held at the Hyundai Motor and Kia Corp. Namyang
R&D Center in Hwaseong, Gyeonggi Province, Tuesday.
"In the wake of COVID-19,
interest rates and prices have risen and exchange rate fluctuations have
increased, as well as geopolitical risks such as the Russia-Ukraine war have
been added. Economic uncertainty is growing," Chung said. The chairman
says despite the difficulties, he will continue to take on challenges in
various fields including electrification, software and new growth engines,
emphasizing there will be no effort spared regarding investment, recruitment
and technological development.
Last year the company's
E-GMP-based IONIQ 5 and EV6 electric vehicles (EVs) won the World Car of the
Year and European Car of the Year awards respectively, and were part of the top
five in global EV sales.
"The transition has
begun," he said. "We will develop and supply more advanced vehicles
this year to solidify our global EV leadership and continue the transition to
Regarding the software-defined
vehicles (SDV) transition promoted by the group, he said, "We must convert
the entire company system, including R&D, to software-centered. We can stay
ahead of the competition."
Chung also unveiled new year
plans for various new businesses and plans to launch Level 3 and Level 4
autonomous vehicles on the road. "In the field of autonomous driving, we
plan to launch vehicles capable of autonomous driving (Level 3) on highways in Korea,
and commercialize robotaxis equipped with Level 4 technology in North
America," the chairman said.
He also explained the concept
of future mobility, which aims to introduce a purpose-built vehicle (PBV) and
gain the lead as a mobility service provider by developing a prototype for
advanced air mobility (AAM).
In the field of robotics, the
company has been steadily completing the value chain for supplying
human-friendly products that support human welfare and convenience and expanding
into new energy business areas such as small modular reactors (SMR).
Chung also emphasized the
importance of customer trust, social trust and trust in oneself and one's
"As we keep our basic
promise of quality and safety, our customers will trust us and willingly join
us for new changes and challenges," Chung said.
Regarding the social trust
component, Hyundai Motor Group aims to sell only EVs with zero carbon emissions
in major markets by 2040 and plans to replace 100 percent of the electricity
demand at its business sites around the world with renewable energy.