Hyundai Aiming to be the Leading Maker of Electric Vehicles
The Car Guide was on hand for the launch of the 2017 Hyundai Ioniq, a car that offers three different ways to “drive electric.” Not only that, but the Ioniq also represents the brand's most significant step in alternative drive systems. The manufacturer is crossing its fingers that sales will be equally significant, especially in light of the fact that it invested $50 million in the development of these new technologies. That’s the largest research and development budget in Hyundai's history.
With increasing sales, electric cars are really creating a buzz in Quebec, but as a Vancouver-based journalist highlighted during the launch, hybrid and electric vehicle sales are down in Canada as a whole. This means that Hyundai, like many other manufacturers, will have their hands full trying to make their investment profitable. That's precisely why the Ioniq’s advertising and marketing budget is higher than that of the brand's bread-and-butter vehicle, the Hyundai Elantra.
- Also: 2017 Hyundai Ioniq: Electric, Hybrid and Plug-in Hybrid
- Also: 2017 Hyundai IONIQ trio makes North American debut
Regardless, Don Romano, President and CEO of Hyundai Canada, believes that things will change in the next few years and that positioning is of utmost importance. There's no denying that the conventional gas engine, while it remains more practical, doesn't represent the future. Changes will occur slowly as technology progresses, but Hyundai envisions offering 28 green models by 2020 and, by 2040, 35% of their sales will be made up of electric vehicles. Despite their detractors, hydrogen and fuel cell batteries are also part of the technological choices recommended by Hyundai, who claim that surplus electricity can be used to produce it.
In any event, the battle promises to be hard-fought. Electric and hybrid cars that want to win over buyers need to offer the latest technology and the best operating range. Automakers are likely to fight the same war as smart phone manufacturers: people will look for technology and range much more than a brand name.