What just happened? Just before the end of last year, Hyundai reportedly shut down all internal combustion engine development and reassigned its engineers to electronic vehicles. Hyundai is the latest in a series of companies and even governments that have announced measures in favor of electric vehicles over the past year.
Industry sources told the Korea Economic Daily that Hyundai firm its combustion engine development and R&D centers. The South Korean company will no longer develop new gasoline vehicles but will reserve a few engineers to modify existing ones.
Hyundai will move powertrain engineers to an electrification design center, while powertrain performance engineers will now work on electric vehicle upgrades. He also created a new battery division to develop better power cells, focusing on design, performance and raw materials for batteries.
In August, automated driving systems company Motional announced that it would add a Hyundai EV robotaxi to the Lyft app by 2023. Hyundai also unveiled its goal of selling 1.7 million electric vehicles globally. by 2026.
This shift aligns with how other companies and governments want to move more towards electric vehicles by the middle and end of this decade. In November, we reported that Xiaomi wants to produce 300,000 electric vehicles per year from 2024 and that Volvo plans to switch entirely to electric vehicles by 2030. Meanwhile, New York wants to ban the sale of new gasoline-powered vehicles. by 2025. The UK has also proposed phasing out petrol cars by 2030.
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