Hyundai To Invest AED 66.1 Billion In Electric Vehicles Development & Production By 2030

Hyundai is all set to invest massively in electric vehicles. Hyundai has announced that it will invest $18 billion (AED 66.1 billion) in the development and manufacturing of electric vehicles by 2030. This will help Hyundai achieve its electric vehicle sales targets.

The electric vehicle revolution is well underway and at this point in time, every single car manufacturer in the world either already has an EV in production or in development. Electric vehicles are expected to replace ICE vehicles at some point in time. However, we’re not quite close to that time period yet.

Several major OEMs across the world are scurrying to ramp up EV development and production, and all brands under the Hyundai Group are doing so as well. The Hyundai Group consists of Hyundai Motor Company, Kia, and Genesis. Together, these brands now have a new target to achieve by 2030.

The Hyundai Group plans to have an annual EV production figure of 3.5 million units by 2030. To help its companies achieve this target, the South Korean auto giant has now announced an investment of $18 billion (AED 66.1 billion) over the next seven years.

By 2030, Hyundai, Kia & Genesis together aim to have 31 electric vehicles on sale. Hyundai already sells the Kona EV, Ioniq 5, and Ioniq 6 while the Ioniq 7 is in the pipeline. Kia on the other hand already retails the EV6, Niro EV, Soul EV, Sportage PHEV, and Sorento PHEV. The brand also recently showcased its upcoming large electric SUV — Kia EV9.

In addition, Hyundai’s premium cars brand Genesis manufactures the GV60, GV70, and G80 electric vehicles with more on the way. Together, all of these vehicles along with upcoming models contribute to Hyundai Group’s goal — to become one of the top three electric vehicle manufacturers in the world.

Hyundai also held a groundbreaking ceremony for the Hwaseong plant where the brand plans to produce its upcoming electric vehicles. In the UAE, the Hyundai Kona Electric is already available. However, going by the brand’s plans for the future, we can expect more electric vehicles from Hyundai, Kia, and Genesis.

Check out this list of used Hyundai cars for sale in the UAE and new Hyundai cars for sale in the UAE to see the best Hyundai cars for sale.