South Korean carmaker Hyudai Motor will reduce the number of its internal combustion engine models to free up resources for electric car investments. Referring to its sources, Reuters reported today.
–
The carmaker’s decision could affect up to half of the models with a fossil fuel engine, one source said. According to him, the strategy was approved by the company’s management in March.
“This is an important business step that will primarily release R&D money to focus the company on the rest, electric motors, batteries and fuel cells,” the source said, without specifying the plan. The carmaker responded to Reuters’ inquiry by stating that it was accelerating the adoption of greener cars powered by hydrogen or electricity.
–
–
The South Korean company added that it will try to improve the efficiency of internal combustion engines in cars in emerging markets. It is going to gradually expand the offer of electric cars in markets such as the United States, Europe and China. Until 2040, it wants to offer only electric cars.
Petr Michník, on behalf of the Hyundai Motor Manufacturing Czech factory in Nošovice in the Frýdek-Místek region, told ČTK that no changes are planned in the Silesian plant in the foreseeable future. “Last year we changed all the models. We already make the Kona electric car and hybrids,” said Michník.
The Hyundai Motor Group, which includes the Hyundai, Kia and Genesis brands, plans to sell one million electric cars a year by 2025. Until then, he wants to have a ten percent share of the market with them.
–
–
Due to the tightening emission targets in Europe and China, all major carmakers are accelerating the transition to electric cars. The high costs of developing electric motors and increasing the range of electric cars have forced some of them to stop investing in the development of internal combustion engines.
“Hyundai has stopped developing new propulsion mechanisms for internal combustion engines,” one source told Reuters. For the group, which is one of the ten largest car manufacturers in the world in terms of sales volume, this step is particularly important, as Hyundai has one of the widest ranges of engine and transmission technology in the industry.
–
–
The carmaker will specify the strategy of transition to purely electric cars in the next six months, said one of the sources. In April, Hyundai announced that in China, which has the world’s largest car market, it will reduce the number of gasoline-powered models to 14 from the original 21. Starting next year, it wants to introduce new electric models there every year.
In November 2008, the carmaker Hyundai officially started serial production of passenger cars in Nošovice in the Frýdek-Místek region. In December 2007, the Kia subsidiary started serial production of passenger cars near Žilina.
– .
