Hyundai Targets To Reach New Heights in EV Sale By 2025

Hyundai Targets To Reach New Heights in EV Sale By 2025

Hyundai Motor Co., the Korean automaker announced on Sunday to manufacture a set of electric vehicles. These EVs will be sold in the brand name of Ioniq. If things go as per planning, the company can become the third-largest seller by 2025.  

It plans to launch three models of EVs: 

Ioniq 5 ( based on Hyundai 45 idea) in the year 2021

Ioniq 6 sedan ( based on the Hyundai Prophecy idea) in the year 2022

Ioniq 7 ( a large crossover) in the year 2024

All three models are based on Electric Global Modular Platform and with fast charging features and wide driving range. 

Hyundai said that this initial step of Ioniq would help it to reach new height by covering about 10% of the global market in electric vehicle sales by 2025. It is an initiative to become the brand from an individual vehicle nameplate. 

The main competitors of Hyundai in the market are General Motors Co and the conventional automakers Volkswagen AG.  Both these companies have made a prior announcement of manufacturing and selling more than a million electric vehicles by 2025. 

Tesla Inc( California-based company) is the world leader in the manufacturing of electric vehicle; their whole manufacturing unit focuses on EV’s. 

Chief Executive Elon Musk of Tesla Inc has said that they are aiming to retain their present position and will stand in fierce competition with all the EV companies by selling “a few million” in the year 2025.

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