Hyundai Motor to Launch Dedicated EV Platform E-GMP

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South Korea’s Hyundai Motor Group mentioned on Wednesday it can introduce an electrical vehicle-only platform early subsequent 12 months that may use its personal battery know-how to chop manufacturing time and prices.

The plan underscores efforts by the world’s No.5 auto group to grow to be a significant participant within the world EV market, as automobile makers world wide are pouring billions of {dollars} of funding to enhance battery know-how, which retains EV costs excessive in contrast with combustion engine fashions.

Market chief Tesla mentioned in September it goals to halve the price of its EV batteries and convey extra manufacturing of the important thing auto part in-house to decrease EV costs to $25,000 (roughly Rs. 18,000 lakhs) every.

Hyundai expects its devoted Electrical International Modular Platform (E-GMP) will enable it to make use of its personal battery module know-how throughout varied EV fashions and minimize the variety of parts by 60 %.

“E-GMP can be extremely efficient in increasing the Group’s EV management place as it can allow the corporate to enlarge its EV line-up over a comparatively quick interval by way of modularisation and standardisation,” it mentioned in a press release.

An electrical automobile based mostly on E-GMP will provide a driving vary of 500 kms (310 miles) or extra on a single cost, an enchancment of no less than 23 % from the Kona EV, the longest driving vary mannequin amongst Hyundai’s EV lineups.

Nevertheless, Hyundai’s R&D chief Albert Biermann mentioned the corporate would not see the necessity to make its personal battery cells and is content material with cooperating with its suppliers together with SK Innovation and LG’s LG Power Resolution.

Hyundai Motor and its sister firm Kia Motors collectively intention to promote 1 million EVs in 2025 to grow to be the world’s third-largest vendor of EVs.

It has promised 23 new EVs together with 11 all-electric fashions by 2025 and plans to introduce a household of EVs below the Ioniq model from early subsequent 12 months to spearhead its near-term transition towards EV manufacturing.

© Thomson Reuters 2020


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