Hyundai, one of the biggest auto manufacturers in the world, developers the first architecture dedicated to electric cars in order to catch up with rivals no this segment of the market that is constantly growing.
Although the platform won’t be completed anytime soon, Hyundai and Kia are planning to develop an electric SUV that will be followed by a model launched by Kia Motors in the next year.
The compact models will be able to travel on a distance of 300 km, with a big autonomy, and they will be more competitive than the versions launched by rival companies and we’re talking about electric cars from Tesla, Ford, and General Motors. Moreover, Kia is planning to build a luxury electric car under the Genesis brand in 2021 but this will happen after first releasing a hybrid Genesis model in 2019.
The separate platform represents a way t push the industrial segment of electric cars by a company that was for too long a rival. And this change of plans shows the existence of n investor that puts pressure on Hyundai to enter the electric cars segment of the market.
The new platform for electric cars allows Hyundai to install batteries on the floor of the car. This way the car can accommodate a bigger battery and will be able to provide more space inside the car.
The platform for electric cars will need major investments and although it will also involve losses, Hyundai needs to make these changes in order to cope with the harsh competition on the market.
Hyundai founders mention that electric cars will represent 10% of the total car sales in 2015. For this reason auto manufacturers need to release cars that can travel on longer distances in order to be competitive.