Hyundai has announced a complete revamp of its vehicle lineup, including a significant investment in electric vehicles across markets from the U.S. to China, featuring its first midsize pickup and an extended-range EV that will deliver over 600 miles of range.
"In an industry facing unprecedented transformation, Hyundai is uniquely positioned to win," said José Muñoz, CEO of Hyundai Motor Company, at an investor event in New York. The press release described the move as "its most ambitious growth strategy."
Hyundai's move follows a broader industry trend, as nearly every major automaker, from Ford to Toyota, is expanding hybrid-electric and full-electric lineups, offering shoppers more diverse options.
The company plans to sell 5.55 million vehicles globally by 2030, including 3.3 million EVs and hybrids, per Electrek. Eighteen new hybrids have been announced, with significant growth expected in North America, Europe, and South Korea.
Hyundai has also announced plans to increase production at its EV plant in Georgia, with a $2.7 billion investment to create 3,000 jobs and produce 500,000 hybrid and EV models annually by 2028, per Electrek.
Consumers will benefit from these new models with the practical advantages of going electric: no more oil changes, lower fueling costs compared to internal combustion vehicles, quieter rides, and zero tailpipe pollution.
Studies show EVs quickly offset their manufacturing environmental impact. One study found that ICE cars produce around 350 grams of carbon pollution per mile over their lifetimes, compared to about 200 for EVs.
Concerns exist about the environmental impact of mining for materials used in battery production. Approximately 30 million tons of minerals per year for the clean energy transition, which is minimal compared to the current 16.5 billion tons of dirty fuels extracted annually. This transition aims to replace dirty fuels with reusable minerals rather than fuels that burn and contribute to planet-warming pollution.
Pairing an EV with home charging and renewable energy like solar can unlock additional, cleaner savings. Installing a Level 2 home charger through Qmerit makes fueling easier than public charging, saving drivers hundreds each year. Adding solar power with platforms like EnergySage allows you to compare vetted local installers and potentially save up to $10,000 on installation.
Reactions to the announcement were positive, per Electrek. "Sounds like a great plan," said one commenter. "There is a significant need for affordable EVs stateside."
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"If they can keep 800v on a smaller EREV battery, or just a nice charging curve, that could be a really competitive offering," another added.
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