Hyundai Motor to Outlay USD 85.41 Billion to Mobilise EV Plans by 2032
The car manufacturer stated it plans to spend about 35.8 trillion won on EVs in the period to 2032, aiming for the sale of 2 million EV units yearly by 2030.
June 20, 2023. By EI News Network
The car manufacturer stated it plans to spend about 35.8 trillion won on EVs in the period to 2032, aiming for the sale of 2 million EV units yearly by 2030.
Hyundai Motor plans to commence competitive lithium-iron-phosphate (LFP) batteries with raised energy density and upgraded low-temperature efficiency for the first time around 2025.
The company intends to source over 70 percent of batteries through its joint ventures by 2028 and beyond.
The other plans comprise collaboration with specialised companies and startups, along with setting up joint ventures with battery companies to ascertain a balanced supply.
As per the company statement, "Joint research and equity investment in startups to accelerate the development of next-generation batteries is also underway".
The Seoul-based automaker said it intended to attain an operating profit margin of 10 percent or higher in the EV business by 2030.
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix