The Hyundai Group held its 2024 New Year bash at Kia AutoLand Gwangmyeong. The plant at Gwangmyeong is the first dedicated electric vehicle (EV) plant in Korea, a strong signal of the company direction.
The theme was ‘Together, a Valuable Start,’ for Hyundai Motor Group Executive Chair Euisun Chung’s speech. While that might sound a bit nebulous, Hyundai, Kia and Genesis have been able to bring the right vehicle at the right time, and this is why.
Consistently ranking highly in customer satisfaction, Hyundai as a group, has made few missteps and is quick to correct them when they happen. The Executive Chair Euisun Chung went on to say, “Our mission this year will be ‘Consistency and Sustainability’ consistently strengthening our capabilities, which will allow us to scale any challenges and achieve sustainable progress. I am excited about the series of innovations in electrification that will start here at AutoLand Gwangmyeong, the Group’s first EV-dedicated plant, and expand to Ulsan, the United States and beyond.”
The Kia AutoLand Gwangmyeong EV Plant redevelopment finishes some time over the next few months, and will manufacture the EV3 for sale worldwide. Along with the Hyundai Motor Group Metaplant America (HMGMA), Kia’s AutoLand Hwaseong EV Plant, and the Hyundai Motor Ulsan EV Plant, the Hyundai Group will go head to head with the main challengers to be one of the top three global EV manufacturers by 2030.
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ABOVE: Hyundai Group 2024 New Year party at Kia AutoLand Gwangmyeong (1)
While Tesla is seen as the electric darling of the car world, it is rapidly losing ground to China which as a nation, is creating an EV deluge which other car makers ignore at their peril. The main cost of an EV is the battery, and the main hurdle buyers must jump, is charging. As the latter becomes more ubiquitous, EV uptake picks up pace.
2023 saw the biggest increase in Australian EV ownership since the electric wave started gathering pace. While Australia might be well behind other nations, the brakes were released once the government changed over a year ago.
It is expected to gather even more momentum as Australia adopts Euro 6 emissions standards. While same say it will increase the price of petrol, it should remove 18 million tonnes of greenhouse gases from transport by 2050.
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