'Hydrogen Vehicle Expansion' and 'Battery Localization'... Intensifying Carbon Neutrality Competition in the Complete Vehicle Industry

Hyundai Motor Unveils Hydrogen Vision 2040... Plans for In-House Battery Production
Ford, GM, Audi Volkswagen Accelerate Electric Vehicle Transition Aligned with Carbon Neutrality Plans

[Asia Economy Reporter Ki-min Lee] Automakers are competitively announcing detailed plans for carbon neutrality. These companies aim to achieve carbon neutrality not only in product development but also in the production process by accelerating the transition to eco-friendly vehicles and internalizing batteries.

According to the industry on the 20th, Hyundai Motor Group plans to achieve carbon neutrality across its products and business by 2045, focusing on clean mobility, next-generation mobility platforms, and green energy.

First, Hyundai Motor Group recently announced through its Hydrogen Vision 2040 that it will make 2040 the inaugural year for the popularization of hydrogen energy. To this end, it will continue developing hydrogen fuel cells that are energy-efficient while lowering costs and expand its product lineup.

There is also a plan to increase the proportion of electrified models. Hyundai aims to expand the share of electrified models among the vehicles it sells worldwide to 30% by 2030 and 80% by 2040. Additionally, it is establishing a battery joint venture factory in Indonesia with LG Energy Solution to meet the growing demand for electric vehicles, while recently investing $100 million in SolidEnergy Systems, a U.S. solid-state battery development company.

In the first half of this year, Ford announced plans to invest $30 billion to make 40% of its vehicle production electric by 2025. GM also aims for zero waste by 2030 and plans to produce only electric vehicles by 2035. Its goal is to achieve carbon neutrality in both products and manufacturing processes by 2040.

The Audi Volkswagen Group plans to reduce carbon emissions by 30% compared to 2015 levels by 2025 and achieve full carbon neutrality by 2050. To this end, it will invest 5 billion euros by 2025 and launch 70 electric vehicle models by 2030.

Furthermore, it plans to introduce an integrated battery cell format by 2030 to reduce costs by about 50%. To support this, it will build six gigafactories in Europe.

Japan's Toyota recently held a media investment briefing worldwide on batteries and carbon neutrality, unveiling a blueprint to achieve carbon neutrality by 2050. Toyota plans to invest 1.5 trillion yen in the battery sector by 2030 to establish electrification lines including hybrid vehicles, dedicated electric vehicles, and hydrogen fuel cell vehicles.

Porsche, after launching the electric Taycan this year, is starting construction of a plant for producing carbon-neutral fuel (E-fuel), an eco-friendly fuel synthesized by combining hydrogen obtained through water electrolysis with carbon dioxide or nitrogen. E-fuel production is expected to expand to 55 million liters in 2024 and 550 million liters by 2026.