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02 Dec, 2020 15:05

Hyundai Motor to launch EV platform in 2021

ep imagen del interior de un modelo de hyundai
HYUNDAI

South Korea’s Hyundai Motor Group said on Wednesday it will introduce an electric vehicle-only platform early next year in a move to expand towards the EV sector.

The company said the platform, called the Electric Global Modular Platform, will use its own battery technology to cut production time and costs.

Hyundai expects the use of its own battery module technology across various EV models will cut the number of components by 60%.

“E-GMP will be highly effective in expanding the Group’s EV leadership position as it will enable the company to enlarge its EV line-up over a relatively short period through modularisation and standardisation,” it said in a statement.

An electric vehicle based on E-GMP will offer driving range of 500 kms or more on a single charge, an improvement of at least 23% from the Hyundai Kona EV.

The company also promised 23 new EVs including 11 all-electric models by 2025 as part of its plan to become a major player in the global EV market.

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.