Hyundai Reduces Production Of Petrol/Diesel Cars By 50%; Aims To Sell 10 Lakh Electric Cars
Contributing to a good cause is Hyundai Motors; the South Korean multinational automotive manufacturer now aims to reduce the cars powered by fossil fuels in the coming years.
Read on to find out what Hyundai’s plans are!
Hyundai Plans To Reduce Production Of Petrol And Diesel Cars By 50%
As per sources close to the development, the company now plans to save its funds and resources so as to invest more in electrically powered vehicles. For this, Hyundai now plans to drastically reduce the number of cars that run on conventional sources of fuel, such as petrol and diesel.
The plan of Hyundai’s electric vehicles includes a full electrification of cars and sell only electrically powered cars by 2040. The car maker also plans to ramp up its efforts to adopt hydrogen fuel cell vehicles as an alternative to the conventional internal combustion engine (ICE) vehicles
The Hyundai Group has stated, “It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors, batteries, fuel cells.”
To achieve this aim, the production of ICE vehicles will be reduced to almost 50 per cent of the capacity. Hyundai has also offered Kona electric and the Ioniq range of models under the fully electric vehicle range. Additionally, it also plans to manufacture electric vehicles in the US in collaboration with Kia.
Hyundai To Increase Number Of All Electric Cars In The Automobile Market
Hyundai also aims to add to the number of all-electric cars in the market. The South Korean automaker is planning to take the first step to be compliant with the eco-friendly future. For that, the company has decided to halt the production of diesel engines. Instead, it will move towards electric and hybrid petrol technology. The company also plans to sell one million battery electric vehicles by 2025.
Hyundai Motor group, along with the inclusion of Hyundai Motor, Kia and luxury car brand Genesis, plans to make up for 10% share of the global EV market.
Hyundai will reportedly be finalizing the move to switch to all electric vehicles within the next six months.
The company will also benefit from US President Joe Bidens’s push towards electric mobility. The US government plans to replace 650,000 vehicles in its fleets with electric cars.
Hyundai also aims to benefit from US President Joe Biden’s push towards electric mobility. Hyundai is looking at the opportunity of being one of the carmakers to take advantage of the US government’s plans to replace 650,000 vehicles in its fleets with electric cars.