Hyundai's executive vice chairman said the automaker will invest more than $87 billion to produce 23 EVs by 2025.
Jan. 3, 2020—Hyundai executive vice chairman Euisun Chung said Hyundai, Kia and Genesis brands will invest more than $87 billion to produce 23 EVs by 2025, according to a report by Electrek.
The group’s lineup will grow to 23 battery-electric vehicles and six plug-in hybrids in the next five years.
Hyundai said its current lineup includes nine pure electric vehicles. But there is little evidence of those models selling well outside of its domestic South Korean market. In the United States, sales of Hyundai and Kia EVs — such as the Hyundai Kona EV and Kia Niro EV in the US have been fewer than 2,000 units in 2019.
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