Hyundai aiming to be the biggest electric car brand in Europe
With the way different nations are pushing (or stifling) the rush to electrification, it’s clear that most car manufacturers are placing the bulk of their next-gen focus on Europe.
One such brand is Hyundai. The firm is on the edge of launching a new EV-specialist sub-brand called Ioniq. The aim is to have three new dedicated models produced under the new banner over the next four years (called the Ioniq 5, 6, and 7), with more to come following.
But if you thought that Hyundai’s position would be as a David-like outsider snapping at the heels of the big dogs, you’d be mistaken. Speaking to Autonew Europe, Hyundai Europe President and CEO, Michael Cole, says he aims to go for the European jugular.
“In a relatively short span of time, we have the potential to become the biggest provider of EVs in Europe, especially with the new lineup of dedicated EV models under the new Ioniq brand,” he said.
Hyundai’s ‘relatively short’ time span could begin to be realised this year. Cole believes that Hyundai could end up with approximately 60,000 EV sales in Europe by the end of this year, before Ioniq even launches as its own brand. Should that number come to fruition, it will make the Korean marque one of Europe’s heaviest hitters.
The hope is that by 2025, Hyundai will sell one million BEVs combined by 2025. This they say will be enough to give the company a 10 per cent market share of the global EV market.