Although the famous car manufacturer Hyundai has not adjusted its electric vehicle sales target, the company is still determined to launch a series of new electric vehicles in the coming years.
Accordingly, the production of hybrid and extended-range electric vehicles, including those using compact gasoline engines to charge batteries during operation, is being boosted to cope with the global decline in demand for electric vehicles.
Under its “Hyundai Way” plan, the South Korean automaker wants to increase total sales from 4.21 million vehicles in 2023 to 5.55 million by 2030. This includes a target of selling 2 million electric vehicles , with Hyundai launching 21 all-electric models by the end of the decade, ranging from affordable models to luxury and high-performance models.
It is known that to achieve this goal, Hyundai will launch EREV models - a range-extending powertrain system, including: A battery pack, an electric drive motor and a small internal combustion engine that acts as a generator.
Hyundai says its EREVs will offer a range of more than 900km (560 miles), which will reduce reliance on charging networks compared to EVs. EREVs will also be more affordable than EVs because they will use smaller batteries.
The Hyundai brand wants to sell more than 80,000 EREVs in North America, starting with mid-size SUVs from Hyundai and Genesis, along with a focus on the compact segment in China with another 30,000 EREVs. Mass production is expected to begin in North America and China by the end of 2026, with sales expected to begin in 2027.
In addition, Hyundai will double its hybrid lineup from seven to 14 models, covering more segments with the help of Genesis. The company expects global hybrid sales to reach 1.33 million units by 2028, up more than 40 percent from its previous plan.
Starting in January 2025, Hyundai will introduce the next-generation TMED-II hybrid system in its models. This upgraded system will deliver improved performance and fuel efficiency compared to the previous generation, while also benefiting from EV technologies such as smart regenerative braking and V2L charging.
Hyundai will also invest in various battery technologies. By 2030, it wants to use performance-based NCM (nickel-cobalt-manganese) battery packs, low-cost LFP (lithium-iron-phosphate) batteries, and a newly developed affordable NCM battery for mass-market models.
The company has previously planned to continue its software-centric transformation, with the development of SDV (Software Defined Vehicles), including: SDV Navigation Vehicles scheduled to launch in the second half of 2026; a new “mobility business” using AI and enhanced cybersecurity. This is part of the “Hyundai Way” strategy.
In fact, Hyundai is also working on a new digital cockpit and next-generation infotainment system based on the Android Automotive Operating System, which will be applied to mass-produced vehicles starting in the first half of 2026.
Not only that, the Hyundai brand also aims to achieve Level 4 or higher autonomous driving capabilities and become a technology provider.
