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Hyundai now on the electric offensive to catch up with Tesla

SEOUL — Hyundai, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Now's it's going on the offensive in the battery-powered market led by its U.S. rival. The South Korean company plans to introduce two production lines dedicated to electric vehicles (EVs), one next year and another in 2024, according to an internal union newsletter seen by Reuters. Euisun Chung, leader of the Hyundai Motor Group conglomerate that also includes Kia Motors, has also held a series of meetings since May with his counterparts at Samsung, LG and SK Group, which make batteries and electronic parts. The purpose of the talks, which were publicly announced, was for Hyundai to try to secure batteries at a time of tight supply as the race for EVs intensifies, according to several industry sources. Those manufacturers also supply the likes of Tesla, Volkswagen and GM. Hyundai told Reuters it was collaborating with Korean battery suppliers "to scale up" its electric car production efficiently. It declined to comment on any plans to introduce dedicated production lines. Samsung, LG and SK declined to comment. The moves indicate the carmaker is moving aggressively to expand its electric capacity, days after Chung announced on July 14 that Hyundai Motor Group aimed to sell 1 million battery EVs a year and grab a global market share of over 10% by 2025. There's some way to go; Hyundai Motor Group sold 86,434 battery EVs last year, according to data from industry consultant LMC Automotive. That was above the 73,278 sold by Volkswagen Group but behind the 367,500 delivered by Tesla. Hyundai, the world's No.5 automaker together with Kia Motors, said its agility allowed it to lead the charge into EVs. "We are certain Hyundai is never going to fall behind," it added. No Kodak moment A senior Hyundai insider, who declined to be identified because of the sensitivity of the issue, said the company had not been concerned about Tesla when the Silicon Valley company was producing high-end cars. But it became more worried when Tesla brought out a cheaper Model 3 in 2017, according to the insider, who described it as a "strategic victory." No traditional automaker has been successful yet in catching up with Tesla, which retains an edge in battery and software technology.

China sticking to its guns on EVs for the future

Automakers are obviously free to develop whatever next-gen, zero-emissions tech that they want. However, if a company wants to get on the good side of the Chinese government, that strategy better include some plug-in vehicles. The authorities there are lending major support to plug-ins at the moment, and its forcing the auto industry to play along. According to Bloomberg, Toyota, Volkswagen, Hyundai, and BMW are all launching dedicated EV brands with their joint venture partners, and as many as 40 electric models could hit the Chinese market this year alone. However, analysts don't think the vehicles are going to sell well. Instead, the launches are essentially a way for companies to play nice with the government and help get the approval to build factories in the country. Take Toyota as an example. The company is pushing the future of hydrogen hard with promotional films for the Mirai and engineers talking down fast-charging EVs. Still, the Japanese automaker is getting ready to launch two EV brands in China with its joint venture partners, according to Bloomberg. China's push for alternative fuels has been happening for a while, but it really kicked into high gear last year. The government has set a goal to improve fleet-wide economy by 40 percent by the end of the decade in order to spend less importing oil and for the population's health. The plan has shown some success so far with hybrid and EV sales growing early in 2015. Related Video: News Source: BloombergImage Credit: Kin Cheung / AP Photo Government/Legal Green BMW Hyundai Toyota Volkswagen Green Culture Technology Electric tax incentives chinese government

VW ID. Buzz revealed, electric Chevy Blazer SS teased | Autoblog Podcast #720

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. The Volkswagen Bus revival is the big news this week, but first, we discuss winter driving in our long-term Hyundai Palisade, and review the Hyundai Kona Electric and Jaguar F-Pace SVR. Then they dive into the reveal of the VW ID. Buzz, and Chevy's tease of the Blazer SS performance EV. John's been compiling lists of the most efficient EVs, plug-in hybrids and plug-free vehicles of 2022. Finally, they take to the mailbag to help a listener pick a suitable replacement for a 2010 Mazdaspeed3. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #720 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving Winter driving in our long-term Hyundai Palisade 2022 Hyundai Kona Electric 2022 Jaguar F-Pace SVR 2025 VW ID. Buzz revealed 2024 Blazer SS will be Chevy's first electric performance model The most efficient cars of 2022 Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: