Hyundai Motor and Kia Motors are planning to roll out 130,000 units of electric cars per year by 2021, three times more than their output this year.
According to industry sources on May 1, Hyundai and Kia are planning to expand their electric car production systems to increase their EV models to 15, including plug-in hybrid electric vehicles (PHEVs), by 2021. The number of electric cars produced three years later will be nearly three times the current output.
Hyundai is currently selling five EV models -- the Ioniq Electric, the Ioniq PHEV, the Sonata PHEV, the Kona Electric, and the Nexo. Kia Motors is offering three models -- the Niro PHEV, the Soul EV, and the K5 PHEV.
Hyundai Motor has three new EV models in the pipeline -- Porter EV, Wagon PHEV (for Europe only) which is the next model of the Sonata, and the Tucson PHEV. Kia Motors will also add three new models-- the K5 Wagon PHEV (for Europe only), the Bongo EV and the Niro EV which will come out first this year. Hyundai Motor plans to launch the GV80, the first electric sports utility vehicle (SUV) of the Genesis brand.