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hyundai is going to develop extended-range vehicles in china! target sales of over 30,000 units, competing with ideal?

2024-09-04

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hyundai motor's 2024 ceo investor day is full of useful information! to highlight, hyundai is going to develop the erev extended-range system, which also includes the chinese market!

according to the data, hyundai's erev extended-range system will be mass-produced in north america and china first, with hyundai and genesis brand d-class suvs being the first to be put into production in north america, with a target sales volume of 80,000 units per year. the chinese market will first test the waters with an economical c-class platform (probably a mid-size car, rumored to be santa fe), with an annual sales target of more than 30,000 units.

currently, the leaders in range-extending technology are chinese automakers, led by ideal and byd, and the market is close to saturation. do you think hyundai still has a chance to enter the range-extending market at this juncture?

erev is a vehicle that combines the advantages of internal combustion engines and electric vehicles. it is powered by electricity like electric vehicles, but the engine generates electricity and only supports battery charging. hyundai plans to reduce the battery capacity, which has a higher cost ratio, by about 30%, but ensure that its cruising range is more than 900km.

hyundai motor's namyang research institute has set up a "xev system development task force (tf)". xev refers to all types of next-generation eco-friendly vehicles within hyundai motor. the head of the research and development department of hyundai motor group is yang hee-won.