[Global Big 3 Hyundai Motor] 'E-GMP' Electric Vehicles Capturing the World by Understanding Consumer Needs

Leading the Global Market with Dedicated Electric Vehicles
Announcing the Launch of 23 Electric Vehicle Models by 2025

[Asia Economy Reporter Yoo Hyun-seok] One of the reasons Hyundai Motor Company and Kia were able to rise to third place globally was their focus on the eco-friendly vehicle market. Dedicated electric vehicles such as the Ioniq 5 and EV6, based on the electric vehicle-exclusive platform ‘E-GMP,’ equipped with user-centered convenience features, have been chosen by consumers.

According to the Korea Automobile Manufacturers Association (KAMA) on the 17th, Hyundai and Kia’s eco-friendly vehicle exports from January to June reached 224,672 units, a 30.6% increase compared to the same period last year (171,468 units). Hyundai exported 116,770 units, up 22.1% year-on-year. Kia’s exports increased by 42.3% to 107,902 units. For the Ioniq 5 and EV6, both built on the E-GMP platform, 29,109 units and 28,814 units were exported respectively.

In particular, electric vehicles based on E-GMP are achieving high performance globally. According to Bloomberg, Hyundai Motor Group sold 27,000 electric vehicles in the U.S. market from January to May, ranking second after Tesla. In Europe, they achieved third place in market share for the first half of the year.

The biggest reason Hyundai and Kia are succeeding globally with electric vehicles is that the dedicated electric vehicles built on the E-GMP platform accurately understand consumer needs. E-GMP was first unveiled in 2020. Unlike internal combustion engine platforms, it allows the floor to be flat, significantly reducing the space occupied by the engine, transmission, and fuel tank, thereby increasing the usability of interior space. Additionally, it features an ‘800V’ charging system and the world’s first 400V/800V multi-fast charging technology, enabling the battery to be charged up to 80% within 18 minutes during fast charging.

Especially effective was the application of ‘V2L (Vehicle to Load),’ which allows the electric vehicle itself to function as a power supply. When using V2L, general power can be supplied outside the vehicle. This offers the advantage of using various home appliances and electronic devices without restrictions during outdoor activities. In other words, it stimulated consumers’ desire to purchase by positioning the vehicle not just as a means of transportation but as a space supporting various aspects of daily life.

Highlighting these advantages, the Ioniq 5 won the ‘World Car of the Year’ award at the 2022 World Car Awards (WCA). The EV6 also earned the honor of being the first Korean automobile brand to win the ‘2022 European Car of the Year.’ It has also achieved excellent results in comparative evaluations conducted by major overseas media, sweeping awards at global major ceremonies and from various associations and media worldwide.

Hyundai Motor Group plans to accelerate its electric vehicle market strategy. The goal is to launch a total of 23 electric vehicles by 2025. Hyundai is preparing to release the Ioniq 6, a sedan-type electric vehicle. Kia will introduce the EV6 GT and will launch the large electric sports utility vehicle (SUV) EV9 next year.

Professor Lee Ho-geun of the Automotive Department at Daeduk University said, “Hyundai and Kia have been praised in the past for creating interior spaces that are more customer-friendly compared to imported cars. This aspect has been reflected in their electric vehicles as well, making them automakers that comfortably meet customer needs.”

He added, “Furthermore, Hyundai and Kia are creating vehicles with completely different exterior designs, which also influences customers by preventing them from getting bored.”