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Hyundai Motor Group details how it will spend $7.4 billion in the U.S. by 2025

Hyundai Motor Group is expanding its technology investment footprint.

Photo courtesy of Hyundai Motor Group

Spending $7.4 billion is no small task. A new release from the Korean automaker details just how the company is going to spend the money by 2025. Hyundai Motor Group (HMG) includes the Kia, Hyundai, Ioniq, and Genesis brands.

HMG intends to make the spend to "enhance overall product competitiveness" in the area of future mobility technologies including electrification and hydrogen. Hyundai and Kia will invest in growing its electric vehicle (EV) manufacturing footprint to scale and production and satisfy U.S. market demands. Market conditions and U.S. government EV police will dictate what next steps are taken.

Hyundai Motor will offer a suite of American-made electric vehicles to U.S. consumers starting next year. This includes the Kia EV6 and Hyundai Ioniq 5. Additional Kia, Hyundai, Genesis, and Ioniq models are in the works with debuts coming in the near future.

"One key element of Kia's transformation is transitioning from internal combustion engine to electrification. With our strategic investment in the United States to produce EV models, we are making huge strides to lead the EV market but also increase our contribution to the economies where we do business," said Sean Yoon, President and CEO of Kia North America.

HMG also intends to expand the U.S. hydrogen ecosystem in collaboration with local private and public partners. There are numerous governmental and filling station hurdles that must be overcome before widespread hydrogen sees usage in the U.S. HMG is committed to the natural fuel, which is used to power electric motors in fuel cell electric vehicles (FCEVs).

HMG is committed to working with the government and other business partners to expand the U.S. hydrogen energy ecosystem. New business opportunities are likely to emerge from that. Hyundai Motor Group signed a memorandum of understanding with the U.S. Department of Energy in February 2020 to cooperate in hydrogen fuel cell technology innovation and global expansion.

Later this year, Hyundai will demonstrate its fuel cell electric trucks ahead of their commercialization. Hyundai previously made an agreement with Cummins Inc., an U.S. based company which specializes in advanced powertrains, to accelerate deployment of fuel cell electric systems in the U.S. market.

Additionally, HMG will invest in Urban Air Mobility (UAM), robotics, and autonomous technologies. The company, along with SoftBank Group Corp. has agreed to a deal that would have HMG gain a controlling interest in Boston Dynamics, a robotics company perhaps best known for making dog-like robots that monitor Singapore's parks and help Ford map out its factories.

HMG will launch a subsidiary in Washington D.C. to spearhead the Group's UAM businesses and work to create an ecosystem that supports what HMG is calling a "revolution of the mobility experience".

HMG and Aptiv, a U.S. mobility technology firm has created Motional, a joint venture aimed at commercializing driverless cars. The new company has already obtained the industry's first driverless license in the state of Nevada and plans to commercialize robotaxi service in 2023 along with its partner Lyft. Motional has started testing the new Ioniq 5 equipped with advanced autonomous driving technology on public roads.

"I am excited to make this announcement on behalf of the Hyundai Motor Group. This investment demonstrates our deep commitment to the U.S. market, our dealers and customers. Hyundai will lead the future of mobility in the United States and around the world. Our efforts are proof positive that Hyundai will continue to pursue excellence in our current and future product line-up," said José Muñoz, Hyundai Motor Company's Global Chief Operating Officer and President and CEO of Hyundai Motor North America.

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Hyundai released pricing for the Ioniq 5 today.

Hyundai

The first of Hyundai's Ioniq-branded electric vehicles is almost here, and the automaker finally released pricing information. The Ioniq 5 starts off at a reasonable price and reaches deep into premium territory, but it's got the capability and the equipment to justify its price tag.

Hyundai Ioniq 5 Owners will get two years of free charging. Hyundai

Pricing for the line includes:

  • Hyundai Ioniq 5 SE Standard range with 168 hp and RWD: $40,925
  • SE single motor with 225 hp and RWD: $44,875
  • SE dual-motor with 320 hp and AWD: $48,375
  • SEL single-motor with 225 hp and RWD: $47,125
  • SEL dual-motor with 320 hp and AWD: $50,625
  • Limited single-motor with 225 hp and RWD: $51,825
  • Limited dual-motor with 320 hp and AWD: $55,725
All prices include a $1,225 destination charge. It's also worth noting that the Ioniq 5 is eligible for up to $7,500 in government tax credits, though the size of the final tax rebate depends on the customer's individual situation. Range estimates for the Ioniq 5 span from 220 miles for the SE Standard Range to 303 miles for other single-motor models. Hyundai's party trick with the new crossover is its charging system, which is claimed to replenish the batteries from 10 to 80 percent in just 18 minutes.

Standard features for the Ioniq 5 include 19-inch aero wheels, a 12.3-inch touchscreen with EV information, Apple CarPlay and Android Auto, blind spot monitoring with safe exit assist, lane keeping assist with lane following assist, parametric pixelated LED headlights, flush door handle, and more. To ease customers' transition into EV life, Hyundai partnered with Electrify America to provide unlimited 30-minute charting sessions for two years following purchase.

Interior of Hyundai's Ioniq 5 revealed ahead of Feb. 23 debut automotivemap.com

Hyundai offers complimentary maintenance for up to three years or 36,000 miles, which includes tire rotations and other services. The car's battery and electric system are covered by a ten-year/100,000-mile powertrain warranty. The Ioniq 5 is scheduled to go on sale this month.

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The Ioniq 5 can return over 300 miles of range.

Hyundai

Hyundai's EV lineup is growing, and its first Ioniq-branded vehicle is almost here. The Ioniq 5 is a compact EV with sharp, pixelated styling, exciting functionality, and the longest wheelbase in Hyundai's U.S. product line. Today, the automaker announced EPA range estimates for the Ioniq 5, which are strong enough to make the EV a heavy hitter.

Hyundai Ioniq 5 Owners will get two years of free charging. Hyundai

The single-motor rear-drive Ioniq 5 can return up to 303 miles on a charge. It features 225 horsepower and 258 pound-feet of torque. The dual-motor all-wheel drive version can travel 256 miles per charge, but it delivers much more power and better acceleration. The dual-motor vehicle offers 320 horsepower and 446 pound-feet of torque for a 0-60 mph time of less than five seconds.

The Ioniq 5's EPA ratings come as the EV is being handed to journalists in the United States for the first time. The 303-mile estimate is solid, but it's the car's quick charging abilities that should get everyone excited. Using the proper charging tech, the vehicle can recharge from 10 percent to 80 percent in just 18 minutes. It can also act as a small generator to power computers, power tools, or recharge mobile devices, making it an ideal camping vehicle.

Hyundai Ioniq 5 The new EV is due out soon.Hyundai

Hyundai hasn't elaborated on price yet, but we know that the automaker is giving away free charging to buyers of the Ioniq 5. The automaker has partnered with Electrify America to provide 250 kWh DC fast charging at over 700 stations nationwide. Owners have unlimited 30-minute charging sessions for two years from the purchase date of their new vehicle. Hyundai Kona Electric owners are also included in the deal, which will become even more valuable over time, as Electrify America will expand with more fast chargers and charging stations soon.

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