According to a report released by Reuters, South Korean firm wants to introduce two production lines devoted to the production of electric cars whereby one will be launched in 2021, and the other one in 2024.
In May, Euisun Chung, Chief of Hyundai Motor Group, carried out several meetings with his corresponding associates at Samsung, SK Group, LG, Manufacturers of electronic parts, and batteries. The meeting’s theme was to ensure KIA and Hyundai have plenty of supply of batteries and other electronic items as they head towards the manufacture of automated vehicles. On June 14, Chung asserted that Hyundai Motor Group plans to vend 1 million electric cars in the next five years.
A leading Hyundai insider whose identity remains undisclosed alleged that the firm had no intention of considering Tesla during the period when Silicon Valley firm started manufacturing high-end vehicles. Instead, the firm was more worried when Tesla launched an affordable Model 3 Motor three years ago. The steps taken by Tesla were ‘deliberate success.’
The recent sales made in South Korea have posed more worries, especially for Hyundai directors. In June, Tesla Model 3 vehicles were the most sold as compared to Hyundai Kona Electric. Consumers chose to purchase locally produced cars, making the number of Tesla Model 3 sales to rise. That was the opposite of what the country had expected since Hyundai did not imagine Tesla to take over electric motors market that fast.
The remaining problem to be solved here is to persuade the organization, whose workforces manufacture KIA and Hyundai vehicles, to support the plan. That will pave the way for Hyundai to shift to building electric cars. To a shock, union administrators are more worried about keeping their associates’ occupations since several parts used to make EVs are bought from exterior suppliers.
The organization urged the firm to incorporate fundamental components to be used for making the electric vehicles such as battery packs internally to help preserve the jobs of its members. Kodak went penniless because it is glued to film during the period when the business was transitioning to digital photography.
In 2010, Hyundai entered the game when it manufactured 230 electric vehicles for the nation. Later on, those vehicles were stored at an examination facility outside Seoul because they did not have charging infrastructures. Hyundai then started to use hydrogen fuel battery flyers to charge their cars. That fuel battery took many years for those entities to develop it.