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Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.

2017 Hyundai Elantra Awarded Top IIHS Safety Rating | Autoblog Minute

In vehicle safety news, the Hyundai Elantra has snagged a Top Safety Pick+rating from the Insurance Institute for Highway Safety. Hyundai Autoblog Minute Videos Original Video crash test autos

Hyundai N 2025 Vision Gran Turismo Concept looks ready for Le Mans

It's Bugatti versus... Hyundai? Yes, the revered hypercar manufacturer is facing some stiff competition for coolest car at the 2015 Frankfurt Motor Show from the affordable South Korean brand, and it's because both companies chose the German show to introduce their Vision Gran Turismo Concepts. While we'll leave Bugatti's entry to another scribe, we're going to spill plenty of ink on the new N 2025 Vision Gran Turismo, Hyundai's entry to the eponymous video game's well-received Vision program. While so many of these concepts have some basis in reality, Hyundai has tossed out its production vehicles in favor of a far racier concept. Yes, the N 2025 looks better suited to the 24 Hours of Le Mans prototype class than an auto show stage. Details are scarce – automakers don't usually give out a lot of info on powertrains and the like in these Vision GT cars – but Hyundai says it "highlights sustainable technology," which makes us think that there's some kind of hybrid drivetrain underneath that aerodynamic body. Perhaps the coolest thing about the N 2025, though, is that it's not hard to imagine it on a race track of the future. Hyundai has only ever really played around in the World Rally Championship, but with this Vision GT car, it shows the South Korean brand may have the chops for a much higher tier of racing. Check out the photos from Frankfurt and let us know what you think about this latest Vision Gran Turismo car. Hyundai Motor's New High Performance Sub-brand 'N' Takes Center Stage at Frankfurt Motor Show - The sub-brand N will build new momentum for an exciting driving performance and provide emotional driving experience for customers - The latest motorsport challenger and two dynamic concepts will also be introduced at the Motor Show August 26, 2015 – Hyundai Motor will showcase its high performance sub-brand N at the Frankfurt International Motor Show 2015. The result of intensive testing and product development, the sub-brand N builds on Hyundai Motor's successful motorsport experiences and technology capability to drive future performance-oriented and race-track-capable models forward and bring 'the most thrilling winding road' fun to customers who truly love cars. The N builds on not just Hyundai Motor's continued advancement as a primary competitor in World Rally Championship (WRC) but also on the company's dedication and investment to create striking and pioneering high performance cars.