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Hyundai plans for double-digit profit margins via new EV platform, next-gen batteries

Hyundai-EV-platform

The Hyundai Motor Group revealed during its 2023 annual investor day on Tuesday that it would accelerate its transition to electric cars. With an injection of new funds dedicated to EV and battery development, Hyundai is raising its annual EV sales goal to two million by 2030, aiming for over 10% profit margins.

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Hyundai Group will transform entire lineup to fully-connected, Software Defined Vehicles by 2025

Software Defined Vehicles

Following its “Unlock the Software Age” global forum earlier this evening, Hyundai Motor Group has outlined a detailed roadmap to transform its entire lineup of vehicles (gas and electric) across all brands into Software Defined Vehicles (SDVs) by 2025. This new era of vehicle technology will allow HMG to constantly evolve along with its vehicles, which will be able to stay up-to-date via over-the-air updates. To support this new era, the Group has already committed to spending 18 trillion won (~$12.5 billion) to establish a new Global Software Center and accelerate SDV development.

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