Hyundai is officially the third-largest automaker globally after jumpstarting the brand in 2022, behind only Volkswagen and Toyota. However, the South Korean automaker may have an advantage as the auto industry transitions to electric vehicles.
The Hyundai Motor Company, including Kia and Genesis, is establishing itself as a true competitor after surpassing General Motors (GM), Nissan, and Stellantis in annual volume this year, according to Bloomberg. Hyundai’s co-CEO Jaehoon Chang said in an interview:
We are on the right track, and this year we were very strong.
He cited flexible supply chain management as key to the automaker successfully navigating the semiconductor shortage.
The company has leaned heavily into EV tech, looking toward the future of travel, while some automakers (looking at you, Toyota) have failed to embrace the movement.
Hyundai has maintained a progressive approach, releasing electric models such as the IONIQ 5 and Kia EV6, which continue to drive significant demand. The new releases helped Hyundai achieve a record November sales month in the US, as it battles with Ford for second in US electric vehicle sales.
North America is now Hyundai’s largest single market, representing around 21% of its total sales last year. Furthermore, after passing the Inflation Reduction Act, North America has become a hot spot for EV investments, with sales expected to rise sharply over the next several years.
The progress is largely thanks to Hyundai’s early 19.4 trillion won (around $15.2 billion) investment into electric vehicle technology. As part of Hyundai’s strategy, the South Korean automaker is striving for 1.87 million EV sales globally, or around 7% of the global market share, by 2030.
Meanwhile, the world’s largest automaker, Toyota, has consistently warned against going all in on EVs (they must have missed the memo) while maintaining its hybrid approach.
Toyota’s first electric vehicle, the bZ4X, has a less-than-ideal rollout after a safety recall concerning the wheels falling off derailed its momentum. Despite resuming bZ4X sales in October, Toyota has failed to gain any real momentum with its EVs. Perhaps, more importantly, Toyota doesn’t seem to want to go fully electric.
Hyundai IONIQ 5 Source: Hyundai
Can electric vehicles help Hyundai edge out Toyota?
The Hyundai Motor Company’s total sales are up 1.2% year-to-date in 2022, thanks to “strong new models and rising demand.” IONIQ 5 sales more than doubled this year, selling over 88,000 units from January to November.
The Kia EV6 has sold over 23,000, while the newly released Hyundai IONIQ 6 (the initial batch sold out in just a few hours) has nearly sold 4,000 units since launching in October, with the US rollout slated for next year.
This past week, Hyundai revealed a new “EV-inspired” design for its new KONA lineup, showcasing the direction in which the automaker is headed.
As a result, Hyundai is on track to expand revenue by 21% to 141.7 trillion won ($108 billion), which would be the highest growth rate among the major automakers, according to projections.
Although analysts believed a slowdown was inevitable for Hyundai in the US after the Inflation Reduction Act kicked in, the bill’s strict battery sourcing requirements are now being delayed until at least March as the automaker works to build up its EV production capabilities.
Toyota’s sales are flat year-to-date compared to last year. However, regarding fully electric vehicles, Toyota has only sold 18,569 globally through November.
With almost all major auto markets (China, the US, Europe, etc.) moving toward fully electric vehicles, Hyundai seemingly has the upper hand. It already has a dedicated EV platform (E-GMP) and is already planning a purpose-built electric vehicle platform, the integrated modular architecture (IMA), to streamline production.
Toyota has recently taken note of Tesla’s success in the EV market, considering plans to build a new EV platform from scratch. Hyundai is building its business around electric vehicles, while Toyota continues fiddling around with other technology like hybrids and hydrogen fuel cells. Who will win in the end? Check back soon as EV sales continue climbing globally.
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In a bold bid to combat the crippling air pollution crisis in its capital, Delhi, Indian lawmakers have begun high-level discussions about a plan to phase out gas and diesel combustion vehicles by 2035 – a move that could cause a seismic shift in the global EV space and provide a cleaner, greener future for India’s capital.
Long considered one of the world’s most polluted capital cities, Indian capital Delhi is taking drastic steps to cut back pollution with a gas and diesel engine ban coming soon – but they want results faster than that. As such, Delhi is starting with a city-wide ban on refueling vehicles more than 15 years old, and it went into effect earlier this week. (!)
“We are installing gadgets at petrol pumps which will identify vehicles older than 15 years, and no fuel will be provided to them,” said Delhi Environment Minister Manjinder Singh Sirsa … but they’re not stopping there. “Additionally, we will intensify scrutiny of heavy vehicles entering Delhi to ensure they meet prescribed environmental standards before being allowed entry.”
The Economic Times is reporting that discussions are underway to pass laws requiring that all future bus purchases will be required to be electric or “clean fuel” (read: CNG or hydrogen) by the end of this year, with a gas/diesel ban on “three-wheelers and light goods vehicles,” (commercial tuk-tuks and delivery mopeds) potentially coming 2026 to 2027 and a similar ban privately owned and operated cars and bikes coming “between 2030 and 2035.”
Electrek’s Take
Xpeng EV with Turing AI and Bulletproof battery; via XPeng.
Last week, Parker Hannifin launched what they’re calling the industry’s first certified Mobile Electrification Technology Center to train mobile equipment technicians make the transition from conventional diesel engines to modern electric motors.
The electrification of mobile equipment is opening new doors for construction and engineering companies working in indoor, environmentally sensitive, or noise-regulated urban environments – but it also poses a new set of challenges that, while they mirror some of the challenges internal combustion faced a century ago, aren’t yet fully solved. These go beyond just getting energy to the equipment assets’ batteries, and include the integration of hydraulic implements, electronic controls, and the myriad of upfit accessories that have been developed over the last five decades to operate on 12V power.
At the same time, manufacturers and dealers have to ensure the safety of their technicians, which includes providing comprehensive training on the intricacies of high-voltage electric vehicle repair and maintenance – and that’s where Parker’s new mobile equipment training program comes in, helping to accelerate the shift to EVs.
“We are excited to partner with these outstanding distributors at a higher level. Their commitment to designing innovative mobile electrification systems aligns perfectly with our vision to empower machine manufacturers in reducing their environmental footprint while enhancing operational efficiency,” explains Mark Schoessler, VP of sales for Parker’s Motion Systems Group. “Their expertise in designing mobile electrification systems and their capability to deliver integrated solutions will help to maximize the impact of Parker’s expanding METC network.”
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The manufacturing equipment experts at Nott Company were among the first to go through the Parker Hannifin training program, certifying their technicians on Parker’s electric motors, drives, coolers, controllers and control systems.
“We are proud to be recognized for our unwavering dedication to advancing mobile electrification technologies and delivering cutting-edge solutions,” says Nott CEO, Markus Rauchhaus. “This milestone would not have been possible without our incredible partners, customers and the team at Nott Company.”
In addition to Nott, two other North American distributors (Depatie Fluid Power in Portage, Michigan, and Hydradyne in Fort Worth, Texas) have completed the Parker certification.
Electrek’s Take
T7X all-electric track loader at CES 2022; via Doosan Bobcat.
With the rise of electric equipment assets like Bobcat’s T7X compact track loader and E10e electric excavator that eliminate traditional hydraulics and rely on high-voltage battery systems, specialized electrical systems training is becoming increasingly important. Seasoned, steady hands with decades of diesel and hydraulic systems experience are obsolete, and they’ll need to learn new skills to stay relevant.
Certification programs like Parker’s are working to bridge that skills gap, equipping technicians with the skills to maximize performance while mitigating risks associated with high-voltage systems. Here’s hoping more of these start popping up sooner than later.
Based on a Peterbilt 579 commercial semi truck, the ReVolt EREV hybrid electric semi truck promises 40% better fuel economy and more than twice the torque of a conventional, diesel-powered semi. The concept has promise – and now, it has customers.
Austin, Texas-based ReVolt Motors scored its first win with specialist carrier Page Trucking, who’s rolling the dice on five of the Peterbilt 579-based hybrid big rigs — with another order for 15 more of the modified Petes waiting in the wings if the initial five work out.
The deal will see ReVolt’s “dual-power system” put to the test in real-world conditions, pairing its e-axles’ battery-electric torque with up to 1,200 miles of diesel-extended range.
ReVolt Motors team
ReVolt Motors team; via ReVolt.
The ReVolt team starts off with a Peterbilt, then removes the transmission and drive axle, replacing them with a large genhead and batteries. As the big Pete’s diesel engine runs (that’s right, kids – the engine stays in place), it creates electrical energy that’s stored in the trucks’ batteries. Those electrons then flow to the truck’s 670 hp e-axles, putting down a massive, 3500 lb-ft of Earth-moving torque to the ground at 0 rpm.
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The result is an electrically-driven semi truck that works like a big BMW i3 or other EREV, and packs enough battery capacity to operate as a ZEV (sorry, ZET) in ports and urban clean zones. And, more importantly, allows over-the-road drivers to hotel for up to 34 hours without idling the engine or requiring a grid connection.
That ability to “hotel” in the cab is incredibly important, especially as the national shortage of semi truck parking continues to worsen and the number of goods shipped across America’s roads continues to increase.
And, because the ReVolt trucks can hotel without the noise and emissions of diesel or the loss of range of pure electric, they can immediately “plug in” to existing long-haul routes without the need to wait for a commercial truck charging infrastructure to materialize.
“Drivers should not have to choose between losing their longtime routes because of changing regulatory environments or losing the truck in which they have already made significant investments,” explains Gus Gardner, ReVolt founder and CEO. “American truckers want their trucks to reflect their identity, and our retrofit technology allows them to continue driving the trucks they love while still making a living.”
If all of that sounds familiar, it’s probably because you’ve heard of Hyliion.
In addition to being located in the same town and employing the same idea in the same Peterbilt 579 tractor, ReVolt even employs some of the same key players as Hyliion: both the company’s CTO, Chandra Patil, and its Director of Engineering, Blake Witchie, previously worked at Hyliion’s truck works.
Still, Hyliion made their choice when they shut down their truck business. ReVolt seems to have picked up the ball – and their first customer is eager to run with it.
“Our industry is undergoing a major transition, and fleet owners need practical solutions that make financial sense while reducing our environmental impact,” said Dan Titus, CEO of Page Trucking. “ReVolt’s hybrid drivetrain lowers our fuel costs, providing our drivers with a powerful and efficient truck, all without the need for expensive charging infrastructure or worrying about state compliance mandates. The reduced emissions also enable our customers to reduce their Scope 2 emissions.”
Page Trucking has a fleet of approximately 500 trucks in service, serving the agriculture, hazardous materials, and bulk commodities industries throughout Texas. And, if ReVolt’s EREV semis live up to their promise, expect them to operate a lot more than 20 of ’em.