Hyundai unveils new platform and battery tech, planning to sell 2 million EVs by 2030
As it strives to become a global leader in the EV market, Hyundai Motor Group has set an ambitious goal of selling 2 million electric vehicles (EVs) year by 2030, up from its previous target of 1.87 million. At its 2023 CEO Investor Day in Seoul, the business also announced its new Electric Global Modular Platform (E-GMP) and new battery technologies.
Hyundai’s first dedicated EV platform, the E-GMP, will be used for 13 models spanning Hyundai, Kia, and Genesis brands by 2030. In comparison to conventional platforms, the platform provides faster charging, a longer driving range, more interior room, and superior handling.
With a maximum power output of 600 hp and a top speed of 260 km/h, the platform enables both single-motor rear-wheel drive and dual-motor all-wheel drive options.
In addition, the platform includes an integrated powertrain unit, which combines the motor, inverter, and gearbox into a single small module. This minimizes the weight and size of the components while increasing the system’s efficiency and performance.
The platform employs an 800 V design that enables ultra-fast charging of up to 350 kW. This means that the battery can be charged from 10% to 80% in just 18 minutes, or it may be extended by 100 miles in just five minutes.
The platform also supports bi-directional charging, which means the car can power other electronics or vehicles. This can come in handy in an emergency or on a camping vacation. With a standardized architecture that can be modified for different vehicle segments and client needs, the platform can accommodate batteries from several manufacturers.
Hyundai also demonstrated its new battery technology, which comprises a nickel-cobalt-manganese (NCM) cathode material that cuts cobalt use by half, a silicon anode material that enhances energy density by 30%, and a solid-state electrolyte that improves safety and performance. According to the business, these advancements will cut battery costs and weight while enhancing driving range and lifespan.
Hyundai intends to invest KRW 109.4 trillion (about Rs 6,93,211 crore) in its transition to a “smart mobility solution provider” over the next ten years. The IONIQ 5, the company’s first E-GMP-based product, will go on sale in early 2023, followed by the IONIQ 6 sedan and the IONIQ 7 big SUV. EV vehicles will also be introduced under the luxury brand Genesis and the mass-market brand Kia.
Hyundai is now producing EVs on mixed production lines at its plants in the United States, South Korea, the Czech Republic, and India; further lines will be converted as market need dictates.
Hyundai’s first dedicated EV factory in Georgia, US, is under construction which will have an annual production capacity of 300,000 units and is expected to be commissioned in the second half of 2024.