Hyundai prepares dedicated EV platform to meet the long-range electric mobility solutions in the future with huge investment
Hyundai is working on a dedicated EV platform to compete against the likes of Tesla according to a report emerged on Reuters. The new architecture will be versatile and allow for several zero-emission models to come by in the future with high battery range or performance as the individual segments demand. The platform won’t come anytime soon as Hyundai seems to be planning compact electric SUVs with the existing underpinnings.
The South Korean is reported to be under pressure from investors to develop a separate electric platform as the eco-friendly long-range models from Tesla have compounded the process of quickening the EV development. Other significant factors are the buyers expectation of more and more fuel efficiency and ever-stringent emission standards in European and American countries as well as China.
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Currently, Hyundai has the Ioniq hybrid that runs in three different powertrains and is speculated to enter India by early 2018 but the idea of a dedicated electrified architecture is a whole new dimension, said the report. It will allow the company to install a battery pack underneath the floors to eke out maximum energy and mileage as well as interior space stated Lee Ki-sang, head of Hyundai and Kia’s green cars operations.
Even though the cost of setting up the platform has not been revealed by Lee, it will presumably cost in billions given the long scope and manufacturing techniques involved. Hyundai has also said to have no option but to jump in the bandwagon with Tesla, General Motors and Mercedes-Benz to introduce different electric powertrain equipped products in applicable segments.
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Hyundai will use Genesis sub-brand as a luxury alternative for battery-powered high-end vehicles from the German trio as well as JLR and Tesla. It has announced yesterday that a new Genesis-badged luxury EV will be launched in 2021 following the reveal of a plug-in hybrid version from a model in the same portfolio in 2019.
Hyundai Motor was considering sourcing batteries from Contemporary Amperex Technology Ltd (CATL) in China due to restrictions on subsidy. China-specific crossovers and sedans, developed via JV, running on battery power are alleged to be in the pipeline as well.
Source: Reuters