Amid Suspension of 'Apple Car' Talks... Hyundai Focuses on Its Own Electric Vehicles for Now

[Asia Economy Reporter Yoo Je-hoon] Hyundai Motor Group is putting all its efforts into launching its own electric vehicle (EV) models. This comes amid the situation where negotiations with Apple regarding the much-anticipated 'Apple Car' have subsided. While the industry still sees the possibility of negotiations resuming in the future, Hyundai Motor Group appears to be focusing on launching its own electric vehicles independently.

According to industry sources on the 13th, Hyundai Motor Group plans to unveil the electric vehicle model Ioniq 5 within this month and launch it in the European market next month. In addition, the release and launch of Kia CV (project name) and Genesis JW are also scheduled.

The Ioniq 5 is attracting attention as the first model to apply Hyundai Motor Group's dedicated electric vehicle platform 'E-GMP.' It can travel over 500 km on a full charge and is equipped with a fast-charging system that takes 18 minutes to charge up to 80%. Recently, Tesla's Model Y started selling from 59.99 million KRW, aligning with the government's zero-emission vehicle subsidy policy, setting the stage for a showdown with the Ioniq 5.

Hyundai Motor Group regards this year as the 'first year of electrification' and is focusing on launching electric vehicles. In line with this, Hyundai plans to release 12 electric vehicle models by 2025, increase annual sales to 560,000 units, and raise the global market share of electric vehicle sales to 10%. Kia, which recently changed its company name, also plans to launch seven electric vehicle models by 2026, building a total lineup of 11 electric vehicles, with a vision to sell 1.6 million eco-friendly vehicles annually by 2030.

Meanwhile, the industry views that although negotiations for Apple Car contract manufacturing with Apple have been temporarily suspended, the possibility of resumption is not low. The Japanese automobile industry, identified as another candidate, is lagging behind in electrification, and other Western brands are also facing complicated situations. Foreign media continue to point to Volkswagen and Hyundai as strong candidates.