(Bloomberg) -- Hyundai Motor Group plans to build 23 electric vehicles on its new EV-dedicated platform, and is aiming to sell 1 million of the cars worldwide by 2025, the South Korean automaker said Wednesday.
Hyundai Motor Co. and Kia Motors Corp. EVs made on the platform will be able to charge up to 80% capacity in 18 minutes and add as much as 100 kilometers (62 miles) of driving range in just five. They'll have a top range of 500 kilometers on a single charge.
Automakers from Volkswagen AG to General Motors Co. are producing electric cars on dedicated platforms -- basically the bottom structural framework of a car or chassis with the four wheels attached -- to help them scale up production and provide more options to consumers. Hyundai Motor last year pledged to earmark almost half the 20 trillion won ($18 billion) it plans to spend by 2025 on its electrification push.
Hyundai Motor's new Ioniq 5 will be manufactured using the platform as will a handful of Kia models. The vehicles will initially be built in South Korea and could be produced at other locations later depending on demand.
The cars will also have the ability to charge at both 800 volts and 400 volts, allowing them access to more charging infrastructure.
“Our front-wheel driven Hyundai and Kia battery electric vehicles are already among the most efficient in their segments,” said Albert Biermann, president and head of R&D for Hyundai Motor Group. “With our rear-wheel driven based electric global modular platform, we are extending our technological leadership into segments where customers demand excellent driving dynamics and outstanding efficiency.”
In May, Hyundai Motor and Kia selected LG Chem Ltd. to provide batteries for the EVs built on its dedicated platform.
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