Hyundai has shifted from ICE to EV for good, focusing on electric vehicles as part of its core activities.
All ICE (International Combustion Engine) manufacturers are transitioning to electric vehicles in response to the impending UK ban on petrol and diesel engines from 2030. However, some manufacturers are showing swifter progress than others.
Hyundai has made a massive statement this week with reports they have shut their engine development division to pool resources into electric vehicle development. This is big news because Hyundai is one of the largest carmakers in the world.
“Now, it is inevitable to convert into electrification,” said the newly appointed R&D chief Park Chung-kook in an email to employees. “Our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past.”
Hyundai has opened a battery development centre under the electrification development division, with engineers from the ICE unit moving over. The ICE division will now be a small team focusing on maximising efficiency before complete faze out.
Hyundai is eying a huge sales target by 2026, aiming for 1.7 million EV sales worldwide. “The immediate task is to develop innovative vehicles that can dominate the future market,” Park said. “This reorganization will be an important starting point for change ahead in the new year.”
Source: Korea Economic Daily.