'Hyundai Motor Way' Charts Path for Accelerated Transition to Electrification

MANILA: Hyundai Motor Company held its highly anticipated 2023 CEO Investor Day, revealing its forward-thinking mid- to long-term corporate goals and financial plans.

Through its new strategy, “Hyundai Motor Way,” the company is committed to a smooth transition to the electrification era by actively applying its expertise and history of innovation from internal combustion engine vehicles.

By securing an investment of KRW109.4 trillion (approximately PHP4.6 trillion) over the next 10 years, Hyundai will put this strategy into action and accelerate its transition toward becoming a smart mobility solution provider. Furthermore, Hyundai has chosen to concentrate on future businesses like autonomous driving, hydrogen, robotics, and advanced air mobility (AAM) in order to maintain leadership in the future mobility sector.

The strategy's key components include the introduction of a next-generation modular architecture for electric vehicles and the expansion of electric vehicle production capacity, battery development capabilities, and future businesses.

Hyundai Motor Company President and Chief Executive Officer Jaehoon Chang discussed how the company's second-generation dedicated electric vehicle platform, under the new Integrated Modular Architecture (IMA), will take the place of its Electric-Global Modular Platform (E-GMP)

13 new electric vehicle models from Hyundai, Kia, and Genesis will be built on the next-generation platform through 2030.

For the second-generation platform, Hyundai wants to use a variety of battery options, including lithium-iron-phosphate (LFP) and next-generation NCM batteries.

Hyundai plans to make use of an innovative technology that allows battery charging and discharging while driving, using a separate power bank, in order to substantially extend the driving range. The development of an AI-based battery management system will also ensure real-time monitoring and diagnosis of battery conditions, enhancing safety by minimizing thermal runaway.

Aside from the hardware advancements, the modular architectures and next-generation platform will complement Hyundai's software-defined vehicle strategy by enabling software architecture compatibility. Hyundai plans to create an app ecosystem with the use of an open operating system, controller integration, Level 3 and higher autonomous driving capabilities, high-performance semiconductors, and over-the-air update advancements.

Hyundai Motor Group also plans to develop a “Mobilize Energy” toolbox for the generation of resource-circulating hydrogen, the production of green steel, the decarbonization of heat and power sources for business sites using hydrogen, and other energy-related activities. In the utilization sector, Hyundai Motor Group will develop hydrogen-powered mobility, fuel cells and associated infrastructure, and eco-friendly logistics systems.

Hyundai also announced its plans of establishing a battery joint venture in Europe. The company also considers launching a new joint venture or expanding existing joint ventures in markets with a high demand for electric vehicles. Additionally, Hyundai Motor Group plans to source more than 70% of battery demand through various battery joint ventures starting in 2028.

Photos from Hyundai

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