Hyundai To Invest $18 Billion By 2030 To Boost EV Shift

Hyundai To Invest $18 Billion By 2030 To Boost EV Shift via insideevs.com

Hyundai aims to increase its yearly EV output in Korea to 1.51 million units by the end of the decade, pushing its global EV volume to 3.64 million during the same time frame. If it's successful, its brands could eventually lay claim to about 40% of all EVs produced across the globe.

For perspective, Tesla produced just shy of 1.4 million EVs in 2022 alone, and it may ramp that up to 2 million this year.By 2030, Hyundai Motor Group hopes to offer 31 fully electric models. Ahe company says Kia will be opening a new factory south of Seoul that will produce purpose-built EVs. Meanwhile, Kia will bring the

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