Hyundai IONIQ 9 (SEVEN) electric SUV concept (Source: Hyundai)
After unveiling its new “Hyundai Way” strategy on Wednesday, Hyundai confirmed its highly anticipated three-row electric SUV, the IONIQ 9, will be built in the US. Hyundai also revealed plans to launch EREVs with over 550 miles (900 km) range. Here’s what else you can expect from Hyundai over the next few years.
Introducing the new “Hyundai Way” strategy
“In the era of electrification, Hyundai Motor Company is an unrivaled company that has introduced the entire electric vehicle lineup, from mass-market brands to luxury and high-performance models, the fastest,” Hyundai’s CEO Jang Jae-hoon said at the event.
Hyundai revealed its new mid-to-long-term strategy during its 2024 CEO Investor Day. As part of the new “Hyundai Way,” the company aims to sell 5.55 million vehicles globally by 2030.
The target would represent about 30% growth from last year’s 4.2 million cars sold. To achieve it, Hyundai will produce an additional one million vehicles globally.
“Based on the strengths of the best-in-class technology and challenges for innovation that we have accumulated over the past,” Hyundai will continue to lead the EV market, Jae-hoon added.
With plans to sell two million EVs by 2030, Hyundai expects electric models to account for over a third (36%) of total vehicle sales.
Hyundai unveils new “Hyundai Way” strategy during 2024 CEO Investor Day (Source: Hyundai Motor Company)
North America, Hyundai’s biggest market, is expected to receive 690,000, while 467,000 units will be sold in Europe.
Like many of its rivals, Hyundai announced plans to introduce more hybrid models in the short term. Hyundai will improve its hybrid system, doubling its lineup from seven to 14.
Genesis GV70 Electrified (Source: Genesis)
The new hybrid models will include compact, large, and luxury cars, including under the Genesis brand. Hyundai aims to sell 1.33 million hybrids in 2028, a 40% jump from 2023.
Hyundai plans three-row IONIQ 9 SUV, EREVs for the US
Hyundai’s massive new Metaplant America (HMGMA) manufacturing plant in Georgia will be pivotal to the company’s growth plans.
The facility is expected to come online by the end of 2024 and will produce Hyundai’s new EVs, including the updated IONIQ 5 and its first three-row electric SUV, the IONIQ 9.
Hyundai IONIQ 9 (SEVEN) three-row electric SUV concept (Source: Hyundai)
Hyundai confirmed that the IONIQ 9 and IONIQ 5 will be built alongside hybrid models in the US as it looks to meet growing demand.
As part of its new strategy, Hyundai revealed plans to launch Extended-Range Electrified Vehicles (EREVs). An EREV still has a combustion engine, but the engine generates electricity to power the battery.
2025 Hyundai IONIQ 5 N (Source: Hyundai)
Hyundai said it has developed a unique new power system enabling four-wheel drive with two motors.
By using its existing engines and cutting battery capacity by about 30%, Hyundai expects to sell EREVs in a price range similar to plug-in hybrids.
Hyundai IONIQ 5 (left) and IONIQ 6 (right) at Tesla Supercharger (Source: Hyundai)
Over 550 miles range?
The company said the EREVs will include unique EV-specific driving features and over 550 (900 km) driving range.
Mass production will begin in North America and China in late 2026, with full-scale sales kicking off in 2027. Hyundai and Genesis brands will utilize the tech to launch new mid-size SUVs in North America as it aims to sell over 80,000 units annually.
2025 Hyundai Santa Fe (Source: Hyundai)
According to recent reports, Hyundai also plans to launch an EREV version of its best-selling Santa Fe SUV and pickup for the US.
Several top-selling electric pickups, including the Tesla Cybertruck and Ford’s F-150 Lightning, were recently spotted near Hyundai’s facility in Korea.
Ahead of its official debut, Hyundai has been testing the IONIQ 9 on US streets (check out the video here).
According to Motor Intelligence, Hyundai Motor Company, including Kia and Genesis, topped Ford (7.4%) and GM (6.3%) in Q2 to become the second best-selling EV brand in the US with double-digit market share (10%).
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“Honda hydrogen is open for business,” says David Perzynski, assistant manager of hydrogen solutions development at American Honda. “(We have) the fuel cell technology, the expertise, and the supply chain to power a variety of zero-emissions products, including commercial trucking and stationary power generation.”
The company arrived with a more developed version of its Peterbilt 579EV-based HFC semi concept, which is based on one of that brand’s existing BEVs and uses the Honda fuel cell as a range-extending generator for its 120 kWh battery … or, rather, it would – if it was ever plugged into a charger.
On battery power alone, the big Pete is good for up to 150 miles of fully loaded range. With the fuel cell along for the piggyback ride, however, the truck’s range climbs to more than 500 miles at an 82,000 lb. combined vehicle weight.
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More than just a range-extender
Honda envisions a world where its hydrogen fuel cell is used in much more than transportation and logistics applications. At the ACT Expo, Honda had a scale mock-up of what a hospital-sized hydrogen backup generator could look like – and hinted that such an installation might soon become a reality.
This is all very normal for Honda
Honda FCX hydrogen fuel cell concept; via Honda.
If it seems weird that Honda is pushing hydrogen so hard these days, it shouldn’t. Honda’s been developing hydrogen fuel cells for nearly forty years, and put its first hydrogen fuel cell car (the FCX concept, above) all the way back in 1999.
Since then, it’s put a number of hydrogen fuel cell-powered vehicles into series production, including the innovative Honda CR-V HFC hybrid that lets you fill the car’s 17.7 kWh battery with electrons at home for up to 29 miles of all-electric driving, then fill up the hydrogen tank for another 241 miles of driving … and they’re not stopping there.
We had a chance to chat with David Perzynski on Quick Charge last year, where he talked us through some of Honda’s hydrogen plans in more detail. You can check it out, below.
Volkswagen of America is recalling nearly 5,700 2025 VW ID. Buzz vans because the NHTSA says the third-row bench seat is too spacious. (For real.)
According to the National Highway Traffic Safety Administration (NHTSA), the third-row bench is physically wide enough for three people, but it’s only designed to hold two, so it’s only equipped with two seat belts. That mismatch violates Federal Motor Vehicle Safety Standard number 208, which covers occupant crash protection. A bench that invites three passengers but only protects two isn’t just awkward – it’s a safety risk. It simply makes it too easy to squeeze that third person in the back “just that once” without a seatbelt, and that’s inviting trouble.
Volkswagen will fix the ID. Buzz issue by having dealers install “fixed unpadded trim parts” that adjust the seat’s usable width, and they’ll do it for free, because recall repairs are always free. It’ll probably be hard plastic on the seat to ensure a third person can’t squeeze in. Owner notification letters are expected to go out starting June 20, 2025.
Volkswagen has reported that, to date, there have been “no field claims known” of safety issues caused by the extra-wide third row bench seat.
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Electric vehicle charging and battery storage specialists Zenobē have inked a deal with Canadian leasing company 7Gen to fund more than 500 commercial EVs and their associated charging infrastructure.
Last week, Zenobē agreed to provide up to $48 million (Canadian) in debt financing to 7Gen to help expand its vehicle-as-a-service electric truck leasing program across Canada.
7Gen supports fleet operators with a comprehensive set of vehicle leasing and financing solutions that cover EV charger deployment, energy management systems, and ongoing operational support for Canadian fleet customers operating electric trucks, vans, and school buses.
Zenobē secured $1.6 billion in equity from its joint majority shareholders KKR and M&G Infracapital to fuel its global expansion into EVs and grid-scale batteries back in 2023. Since then, it’s grown to support more than 2,000 EVs and 120 charging depots across markets in the UK, Europe, Australia, and New Zealand.
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“We’re bringing our innovative funding approach to Canada and specifically to 7Gen,” says Steven Meersman, Co-Founder and Director of Zenobē. “We see momentum behind decarbonization in Canada’s supportive government policies and the clean, affordable power that will ensure a lower total cost of ownership for zero-emissions vehicles. We look forward to sharing our global experience electrifying over 120 depots to benefit 7Gen, its fleet customers and the wider electric fleet market in Canada.”
That innovative funding strategy is something Steven and I had a chance to discuss this week at the ACT Expo in Anaheim, California. “We’re being very careful in the way we approach the North American market,” he said (paraphrasing). “The market is fairly littered with the graves of other UK EV companies that have tried to find a foothold here and failed, so we’re being very careful about our partners.”
Despite living just a few minutes from his Chicago HQ, I’d never met Steven before this week. He’s a super-interesting guy and you will definitely learn a thing or two about how to build a multimillion dollar energy management company like Zenobē from our upcoming podcast (stay tuned for that). But the news here is 7Gen.
“Zenobē’s debt financing supports 7Gen’s next growth step and allows us to help our customers step up the pace of their EV adoption and benefit immediately from operational cost savings,” says Frans Tjallingii, CEO, 7Gen. “Zenobē’s team is well aligned with ours and we are thrilled to partner to scale our impact in Canada together.”
The company will begin rolling out its Zenobē-funded electric trucks in the coming weeks, with new partners and projects set to be announced shortly.
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