Hyundai Motor Group (HMG) said it now expected its global sales of electric vehicles (EVs) to reach 1.7m units by 2026, up from just over 1m previously.

Hyundai Motor CEO Chang Jae-hoon said in an interview with Automotive News the South Korean group, comprising the Hyundai, Kia and Genesis brands, was accelerating its transition to zero emission vehicles with plans to double its EV line-up to “at least” 13 models by 2026.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Chang said his company was accelerating its new product development schedules so it could have more EVs available by 2025-2026.

By 2030, he expected EVs to account for around 50% of HMG global sales.

Chang said HMG had stepped up its vehicle electrification plans in response to recent announcements by governments worldwide they were bringing forward their carbon-neutrality targets.

He said Europe was expected to be 100% carbon neutral by 2035, followed by major markets like the US.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Chang acknowledged “these are very ambitious targets. Next year, we expect to sell about 220,000 EVs around the world under the Hyundai and Genesis brands which represents a 56% increase over what we expect to sell this year”.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now