• American Chamber of Commerce in Korea
  • Your Partner in Business Since 1953


home> >


[News Article] Hyundai Motor Group takes global EV market by storm


Hyundai Motor Group takes global EV market by storm

Carmaker’s E-GMP-based EVs win World Car of the Year for 3rd year straight


By Ko Dong-hwan, The Korea Times - Hyundai Motor Group is taking the global market for electric vehicles (EVs) by storm as it has added three new awards to the heap of international crowns it has collected since 2020, according to the country's biggest carmaker, Tuesday.


This year's World Car Awards on March 27 saw Kia's EV9 and Hyundai Motor Company's IONIQ 5 N beating other world-class brands. The EV9 won in the World Car of the Year and World Electric Vehicle categories, while the Ioniq 5 N won in the World Performance Car category.


The group previously saw its vehicles winning the awards. The IONIQ 5 won in the World Car of the Year and the World Electric Vehicle categories in 2022 and the IONIQ 6 in 2023 and EV9 in 2024.


The group's latest achievements came after it launched its E-GMP dedicated EV platform in 2020 and started pipelining EVs for the global market.


With its latest awards, the group has won the World Car of the Year category four times in the past decade, the most among the complete car factories of the world, beating Jaguar Land Rover, Mazda, Mercedes-Benz, Volvo and Volkswagen Group.


Taking into account the North American Car of the Year and European Car of the Year awards, the group's accolades stand out even further across the major car markets in the world such as the U.K., Germany, the U.S. and Canada, beating other automotive groups. Alongside the World Car Awards, the two regional awards are considered the world's biggest recognition for cars.


Out of a total of 274 honors bestowed by the three awards, Hyundai Motor Group has so far claimed 66, while Volkswagen Group claimed the No. 2 spot with 33. As per brand, Hyundai Motor Company and Kia won the highest number of awards with 28 and 27, respectively. Mazda follow with 19, Volkswagen with 17 and Honda with 16.


Hyundai Motor Group's EVs have contributed a significant portion to the group's global awards overall. The IONIQ has won more than half of Hyundai Motor Company's entire prizes, while the EV9 and EV6 have altogether won 10 prizes for Kia. In the past three years, 66 percent of the group's entire global prizes, 41 in number, were won by its EVs based on E-GMP.


E-GMP has allowed the group to apply its EV technologies to all its models by making the platform modular and standardized.


The group plans to complete a new EV manufacturing plant in Gwangmyeong, Gyeonggi Province, by June and will start producing the new EV3 for local consumers. The group's Metaplant America (HMGMA), Kia's new EV factory in Hwaseong, Gyeonggi Province, and Hyundai Motor Company's new EV factory in Ulsan are expected to follow with operation launches.


"We're thrilled our competitive E-GMP EVs have been recognized by global auto experts," a group official said. "We'll keep building EV manufacturing plants in different parts of the world and introduce new EVs to global consumers. Our brand will hopefully become one of the world's top 3 by 2030."


Source: https://www.koreatimes.co.kr/www/tech/2024/04/419_371900.html