[Concall] Hyundai Motor "Ioniq 5 to Launch in European Market at the End of March"

Eco-friendly Car Sales Target of 160,000 Units... Genesis Also Aims for Annual Sales of 200,000 Units

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor Company will launch the Ioniq 5, the first model equipped with the dedicated electric vehicle platform 'E-GMP', in the European market at the end of March. Hyundai Motor announced this during the earnings conference call held on the afternoon of the 26th.

According to Hyundai Motor, last year the company sold 100,000 electric vehicles, an increase of about 55% compared to the previous year, mainly driven by the Kona EV. Hyundai Motor also explained that its market share reached 5%.

This year, Hyundai Motor has set its electric vehicle sales target at 160,000 units, an increase of about 60%. To achieve this, the company plans to add a total of four electric vehicle lineups throughout the year, including the Ioniq 5 and the Mistra EV (China). In particular, the Ioniq 5, which attracted attention as the first model equipped with E-GMP, will be launched first in the European market at the end of March.

Hyundai Motor stated, "We plan to sequentially launch the model in Korea and the U.S. markets as well," adding, "We also plan to release electric vehicles under the Genesis brand, through which we will expand electrification."

Hyundai Motor also plans to expand Genesis sales. According to Hyundai Motor, the sales target for the Genesis brand this year is 200,000 units annually, an increase of about 50% compared to the previous year. Hyundai Motor said, "The global launch of the GV80 and the release of the GV70 in the second half of the year are scheduled."