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Hyundai Motor Company will invest 60 billion won in research and development (R&D) and secure future automotive technology by 2025.
On the 10th, Hyundai Motor Company held an online “CEO Investor Day” event, which revealed four future business strategies and medium and long-term investment plans. Next year, it will launch a vehicle that updates its autonomous driving function wirelessly and mass-produce a car that parks and returns automatically by itself in 2024. In 2025, an electric vehicle equipped with a battery will be piloted. fully solid state.
Hyundai Motor Company Chairman Lee Won-hee announced that he will invest 6.1 trillion won by 2025, including 36 trillion won in R&D and investment in facilities and 23 trillion won in securing future business capabilities.
The total size of the investment is similar to the level announced in December last year (61 trillion won), but in detail, the future investment has expanded considerably. Investment in the hydrogen business has increased nearly sevenfold, from 600 billion won to 4.1 trillion won, and investment in the electrification sector has increased by 1 trillion won from 9.8 trillion won. to 1.0 trillion won.
Hyundai Motor Company also proposed a goal of selling only green vehicles in major markets such as the United States and Europe by 2040, and introducing Level 3 autonomous driving features that can be removed from the steering wheel by 2022.
Hyundai Motor Company invests 23 billion won in future technology … “Level 3 autonomous car launched in 2 years”
‘CEO Investor Day’ … Disclosure of 4 major strategic projects
Hyundai Motor Company has stated that it will only sell electric vehicles and hydrogen electric vehicles in the United States, Europe and China in 2040. In the same year, it also revealed its goal of occupying 8 to 10% of the global electric vehicle market. It has made plans to lead the global market in other fields of future mobility, such as Future Aviation Mobility (UAM), autonomous driving, and hydrogen fuel cells.
All solid battery cars to launch in 2025
On the 10th, Hyundai Motor Company held a “CEO Investor Day” online event and revealed its four future business strategies. The R&D headquarters of Albert Beerman (electric vehicles), Shin Jae-won, head of the UAM (UAM) business unit, Jang Woong-Joon, head of the autonomous driving (autonomous driving) business unit and Kim Se-hoon, Head of the Fuel Cell (Hydrogen Fuel Cell) Business Unit announced future strategies for each sector.
“We plan to seriously expand the electric car lineup with the launch of the Ionic 5 next year,” said President Beerman. “By 2040, 78% of the vehicles produced by Hyundai will be converted to electric cars.” Hyundai Motor Company announced that it will create an image of a ‘luxury green car’ by launching a Genesis electric car model next year.
Hyundai Motor Company plans to produce a fully solid-state battery-equipped vehicle called a next-generation battery in 2025 and mass production in 2030. Investments related to charging infrastructure will also increase, such as the establishment of 20 high-speed charging stations. speed next year (120 chargers).
In the field of the UAM, it aims at the number one position in the world. In 2026, it will unveil a charging unmanned aerial vehicle system equipped with a hybrid engine, and in 2028 it will launch an electric vehicle for personal use. In the 2030s, it plans to introduce regional aviation mobility products that connect adjacent cities. It will also develop a vehicle equipped with hydrogen fuel cells.
Hyundai Motor Company will introduce autonomous driving level 3 in 2022 that allows drivers to take their hands off the wheel. In 2024, it is planned to apply the ‘remote valet function’ to mass-produced vehicles, where the driver parks without additional handling and returns when necessary. Vehicles coming out after next year will also include a wireless upgrade feature for autonomous driving. Like a smartphone, when a new feature appears, it is automatically applied to the existing vehicle.
It is also beginning to sell hydrogen fuel cell systems. A new brand, ‘HTWO’, was also introduced. The strategy is not only to produce hydrogen electric vehicles, but also to sell fuel cell systems to other car companies, energy companies and logistics companies. The goal is to sell 700,000 hydrogen fuel cells to the market by 2030.
8% target for operating margin in 2025
Hyundai Motor Company also disclosed its financial objectives and investment plans for the medium and long term. President Lee Won-hee announced that by 2025 he will invest 60 trillion won in research and development (R&D) and in securing future technologies. The total size of the investment isn’t much different from the plan a year ago (61.1 trillion won by 2025), but the content has changed. The amount of funds invested in strengthening existing companies has drastically decreased from 41 trillion won to 36 trillion won, and the amount of investment to ensure future business capabilities has increased significantly from 20 trillion won to 23 trillion won.
The medium to long-term financial goals were also partially revised. Last year, it announced that it would raise the auto division’s operating margin to 7% (3.2% last year) in 2022, but lowered the target to 5.5% that day. The objective is to register an operating margin of 8% in 2025. This is the result of taking into account the changes in the business environment after the spread of Corona 19. The period of activity of the cost reduction promotion committee, which was planned running through 2022, it will run through 2025. President Lee explained, “The ultimate goal is to actively improve profitability, increase investment in the future, and achieve sustainable growth.”
Reporter Do Byung-wook / Lee Sun-ah [email protected]
