Could you give an overview of Hyundai's advancements in electric mobility and your objectives in this field?
Hyundai Motor has been a leader in the electrification of the automotive industry. We began with the first IONIQ, which was available as a BEV, hybrid, and regular powertrain. Now, we have expanded our lineup to include IONIQ 5, IONIQ 6, and KONA EV, which the latter is manufactured in Europe. Recently, we launched IONIQ 5 N and announced a new sub-compact SUV EV called INSTER, which will enter production late this year. Additionally, we plan to introduce a new member to the IONIQ EV brand next year.
Our offerings span from small A, B segment EV models to large SUVs, many of which feature our 800-volt technology. This technology allows for fast charging from 10% to 80% in about 18 minutes, which is quite unique for a mainstream brand.
We are not limited to battery electric vehicles; we are also advancing fuel cell technology with our NEXO. Furthermore, we are heavily involved in infrastructure development, being shareholders in Ionity, and expanding high-power charging points across Europe.
What are the main challenges to electrification, and how does Hyundai view hydrogen as an alternative?
One of the primary barriers to the adoption of electric vehicles (EVs) has been range anxiety, which stems from concerns about the distance an EV can travel on a single charge and the availability of charging infrastructure. However, Hyundai is addressing these issues with advanced technology, such as the long-range capability of the IONIQ brand and fast charging enabled by 800-volt systems. Despite these advancements, infrastructure remains a significant challenge. The European Commission's reports suggest that the current infrastructure is growing annually at only about 30% of what is needed. This underscores the necessity for more high-power charging stations.
Hydrogen, on the other hand, offers a promising complement to electrification, particularly for heavy-duty vehicles. Hyundai is a leader in this space with our NEXO passenger car and the XCIENT heavy-duty truck, which is already operating in Germany, Switzerland and many other parts around the world. Hydrogen vehicles benefit from short refueling times and long ranges, making them ideal for commercial use where downtime needs to be minimized. While hydrogen infrastructure is still developing, we see it as a critical component of a sustainable transportation future, especially for commercial vehicles.
How is Hyundai addressing the need for more charging infrastructure in Europe?
Hyundai recognizes that expanding the charging infrastructure is crucial for the widespread adoption of electric vehicles. We have been in good discussions with policymakers and industry leaders to link our EV targets with the necessary infrastructure development. The European Commission has introduced the alternative fuel infrastructure regulation, which mandates member states to ensure the proper infrastructure to support the transition to electric vehicles.
While countries like Germany, France, and the Netherlands have made significant progress, there are regions, particularly in Southern and Central Europe, where the infrastructure still lacks. Hyundai is actively contributing to this effort through our partnership with Ionity, aiming to expand the number of high-power charging points across Europe. Ensuring that consumers have confidence in the availability and accessibility of charging stations is key to accelerating the transition to electric mobility.
How is Hyundai incorporating the principles of the circular economy in its vehicle production?
Hyundai is committed to integrating the principles of the circular economy into our production processes. This includes the use of recycled materials in our vehicles. A notable example is our partnership with Healthy Seas, where we support this marine conservation organisation in their clean-up activities to retrieve ghost fishing nets from the seas, and integrate elements in our cars, made from ECONYL yarn, a recycled yarn made by the retrieved nets together with other nylon waste. For example, the floor mats in IONIQ 5, IONIQ 6 and the all-new Santa Fe sold in Europe, are made of ECONYL yarn. This initiative highlights our focus on social responsibility and environmental sustainability.
We are also aligning with European regulations, such as the Critical Raw Materials Act, which mandates that a significant percentage of critical raw materials must be recycled by 2030. Our design teams continually explore ways to incorporate recycled materials into our vehicles, ensuring that we contribute to a sustainable future. This approach not only reduces waste but also supports our broader mission of progress for humanity.
What is Hyundai's commitment to achieving net zero emissions by 2045, and how feasible is this goal?
Hyundai is firmly committed to achieving carbon neutrality by 2045, a target that reflects our ambition to lead in sustainability. While this may seem a long way off, we are making substantial progress. For instance, our plant in the Czech Republic already operates on renewable energy. Achieving net zero involves addressing emissions across the entire supply chain, from production to logistics and distribution.
We are confident in our ability to meet this goal, despite the challenges. Our integrated approach with affiliate companies and strategic partners ensures that we are all working towards the same objective. This commitment goes beyond regulatory compliance; it is about setting a visionary standard for the automotive industry. We are dedicated to being a fully sustainable company, regardless of changes in legislation or the pace at which others move.
How does Hyundai tackle emissions in the EV production supply chain, and do you believe the industry has the tools to address these challenges?
Addressing emissions in the EV production supply chain is indeed challenging, but Hyundai is proactively working with strategic partners and affiliates to overcome these hurdles. We are identifying the key areas where emissions can be reduced and implementing solutions accordingly. This includes innovations in battery production, sourcing of materials, and overall manufacturing processes.
While challenges remain, we believe that the industry has the capability to tackle these issues efficiently. Continuous collaboration and innovation are essential to achieve our sustainability goals. Hyundai remains committed to finding and implementing solutions that will minimize the environmental impact of our EV production.
On a personal note, what drew you to the automotive industry and what do you love about cars?
From a young age, I've had a passion for cars. I remember always asking for toy cars as gifts and spending hours playing with them. My journey into the automotive industry began unexpectedly when a friend offered me a job at a Ford dealership. This opportunity sparked my interest, and I transitioned from retail automotive to working with OEMs, where I've spent the past 30 years.
What I love about cars is the passion and excitement they evoke in people. Being involved in the design process and contributing to the growth of brands like Hyundai and Genesis has been incredibly rewarding. Every day, I look forward to coming to work, driven by the industry's dynamic nature and the shared enthusiasm for cars.
