June 29, 2022

South Korean automaker, Kia Corp., Hyundai Motors sister company announced itself to start selling only electric vehicles in Europe from 2035 and in other major markets from 2040. The move comes as it seeks to gradually phase out internal combustion-engine cars in global markets.
The automaker seeks to reduce its carbon emission levels by 2045 as governments around the globe are adopting more aggressive policies to fight climate change.
Several carmakers globally are also making efforts to transition away from fossil fuels.
According to the company, under the strategy, it aims to reduce its carbon emissions by 97 percent from 2019 levels by 2045. It aims to achieve net-zero emissions across its value chains, from production to logistics and to waste disposal.
By 2030, the company aims to replace fossil fuel energy with renewable energy to meet power demand in its plants abroad and in South Korea by 2040. It will further establish solar power generation systems in its plants in Korea, the United States, China, and India.
The maker of the K5 sedan and the Sorento SUV had separately also unveiled the image of the all-electric EV9 concept. The car would be its second model embedded with Hyundai Motor Group’s own EV-only electric-global modular platform (E-GMP) after the EV6 sedan.
The automaker plans by 2025 to boost its EV lineup with 11 models, which includes the production of seven E-GMP-based ones.
By 2025, it aims to achieve a 6.6 percent share of the global battery-powered EV market with its strengthened EV lineup, and reach global annual sales of 500,000 units by 2026.
The company’s current EV market share data is not available presently as its EV sales accounted for only 1 percent of its overall sales in 2019.
According to reports, in April, its sister company Hyundai Motor Co. launched the IONIQ 5 all-electric model equipped with the E-GMP platform.
Hyundai further plans to introduce the IONIQ 6 next year and the IONIQ 7 large SUV in 2024.
The country’s top automaker plans to begin using alphanumeric names for its vehicles just like its bigger rivals, such as BMW.