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Hyundai wants to double sales by 2025

 

To avoid CO2 fines, Hyundai wants to double its sales of electric cars by 2025

Car manufacturers risk fines if they fail to meet the European Union's CO2 emissions targets. To meet the new standards of the Old Continent, Hyundai plans to double its sales of electric cars in Europe this year. To do this, the brand has a new asset.


Hyundai wants to sell twice as many electric cars

While some are lamenting their fate, others are giving themselves the means to achieve their ambitions. Hyundai is one of those brands for whom electrification is not an option but a priority. To comply with the new CO2 standards of the European Union, the Seoul firm knows what it must do. It will not buy carbon credits from Tesla, but will do everything it can to sell more electric cars.

The increase in Hyundai's electric vehicle sales in Europe will come largely from the new Inster. This small model was designed to appeal to drivers, rather city dwellers, looking for affordable offers. The Hyundai Inster is available in France from €25,000, with a leasing offer of €129 per month (after an initial rental of €3,400). At this price, it should be a hit.

Hyundai plans to double its sales of electric cars in Europe this year. “We will do our best to meet the emission targets. And to do this, increasing the overall proportion of electric in our mix is ​​the main part of our strategy,” said Seung Jo Lee, Hyundai’s CFO, during the company’s Q4 earnings call on January 23.


Goal: reach a 20% share in the mix

In 2024, Hyundai sold just under 70,000 electric vehicles in Europe, a figure down 15% from 2023. A decrease that is largely explained by the removal of the bonus in Germany. This decision led to a 41% drop in electric car sales in our neighbouring countries. By 2025, Hyundai hopes that wattages will exceed the 20% mark in its overall mix on the Old Continent.

In addition to the Inster, Hyundai is also banking on the introduction of new models to achieve its objectives. The brand is planning to launch the large electric SUV Ioniq 9 in Europe this year. Equipped with a 110 kWh battery for an estimated range of 620 km WLTP, this competitor to the Kia EV9 should appeal to large families looking for a spacious (and high-end) vehicle offering 7 seats.

The South Korean firm is also planning to launch a compact model, potentially called the Ioniq 3 (the equivalent of the Kia EV3), in 2025. This model would complement an already well-stocked range, including the Kona Electric, Ioniq 5 and Ioniq 6. Last year, the Kona Electric was the brand’s best-selling model in Europe, with 36,500 units sold, followed by the Ioniq 5 (22,830 units) and the Ioniq 6 (8,731 units).


New facilities in Europe

In addition, Hyundai is strengthening its R&D capabilities in the Old Continent. The automaker recently expanded its test center at the Nürburgring, adding infrastructure adapted to electric vehicles, including charging stations and specialized laboratories. Hyundai will also open the Square Campus, a new space dedicated to innovation, in March 2025.

According to Tyrone Johnson, Director of the Hyundai Motor Europe Technical Center, “This expansion reflects our confidence in the growth of the electric vehicle sector. It demonstrates our desire to electrify Europe. High-performance cars have always been an important part of our DNA. Our new facilities at the Nürburgring circuit will allow us to go even further with the N range”.

These initiatives are part of a broader dynamic aimed at becoming a reference brand in the electric field in Europe. Hyundai is taking action. Other manufacturers, such as Renault and Volkswagen, have asked the European Commission to backtrack on the CAFE regulation. They fear that they will not be able to meet the objectives set and will have to pay colossal fines.

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