Toyota’s former CEO and current chairman, Akio Toyoda, is heading to South Korea next month for a strategic meeting with Hyundai. With a private meeting scheduled between company chairpersons, is a new Toyota and Hyundai EV collaboration coming?
On his first trip to Seoul in over a decade, Toyoda is scheduled to meet with Hyundai Motor chairman Chung Euisun.
The trip comes as “Chairman Chung expressed his desire to meet with Chairman Toyoda earlier this year,” a diplomatic said. After accepting the invitation, Toyoda will fly into Seoul on October 24 for a three-day trip.
During the visit, Chung and Toyoda are scheduled for a private meeting to discuss how the two leading automakers, who have fiercely rivaled each other thus far, can tackle new competition.
Last year, Toyota was the world’s largest automaker in terms of volume, while Hyundai Motor, including Kia and Genesis, ranked third.
According to sources, Hyundai and Toyota will explore collaborating on emerging tech, such as EV development, hybrid vehicles, and hydrogen-powered cars. Other projects could include autonomous vehicles and eVTOLs.
Toyota and Hyundai to discuss EV, hybrid partnership
Toyota wants to learn from Hyundai’s successful transition to electric vehicles. The sources said that Hyundai will learn more about Toyota’s leading hybrid tech through the partnership.
Another area of focus will be hydrogen vehicles and the supporting infrastructure. Hyundai is investing heavily in hydrogen and fuel cell tech, with about $8.3 billion in funding set aside through the end of the decade.
On the other hand, Toyota strengthened its alliance with BMW earlier this month. The companies aim to create a “hydrogen society” by jointly developing fuel cell systems and improving the infrastructure.
Toyota and Hyundai are also investing heavily in EV and battery tech to keep up with low-cost competition from China.
Just this week, Toyota received the green light from Japan’s Ministry of Trade and Industry (METI) to develop and build advanced EV batteries, including all-solid-state tech. The certification comes as Japan aims to secure a domestic supply, with China and South Korea controlling the market.
Electrek’s Take
After partnering with GM on Thursday to jointly develop new EV and powertrain tech, Hyundai could bolster R&D with another possible collaboration with Toyota.
Like several legacy automakers, Hyundai announced plans to ramp up hybrid production in the short term. With Toyota leading the hybrid movement, a collaboration makes sense.
Toyota, a laggard in the EV transition, could learn a thing or two from Hyundai, which is viewed as having one of the most successful transitions so far.
Hyundai aims to double its hybrid lineup with 14 models covering all segments. By 2028, the company wants to sell 1.33 million hybrids, a 40% jump from last year.
Despite ramping up hybrids, Hyundai still believes electric vehicles are the future. The company aims to sell two million EVs by 2030, or over a third (36%) of total sales.
The Korean automaker will unveil its first three-row electric SUV, the IONIQ 9, later this year. Earlier this month, Hyundai also revealed the updated 2025 IONIQ 5 with more range, features, and style. It will be the first model built at its massive new Metaplant America, which is set to open its doors next month in Georgia.
Wind energy powered 20% of all electricity consumed in Europe (19% in the EU) in 2024, and the EU has set a goal to grow this share to 34% by 2030 and more than 50% by 2050.
To stay on track, the EU needs to install 30 GW of new wind farms annually, but it only managed 13 GW in 2024 – 11.4 GW onshore and 1.4 GW offshore. This is what’s holding the EU back from achieving its wind growth goals.
Three big problems holding Europe’s wind power back
Europe’s wind power growth is stalling for three key reasons:
Permitting delays. Many governments haven’t implemented the EU’s new permitting rules, making it harder for projects to move forward.
Grid connection bottlenecks. Over 500 GW(!) of potential wind capacity is stuck in grid connection queues.
Slow electrification. Europe’s economy isn’t electrifying fast enough to drive demand for more renewable energy.
Brussels-based trade association WindEurope CEO Giles Dickson summed it up: “The EU must urgently tackle all three problems. More wind means cheaper power, which means increased competitiveness.”
Permitting: Germany sets the standard
Permitting remains a massive roadblock, despite new EU rules aimed at streamlining the process. In fact, the situation worsened in 2024 in many countries. The bright spot? Germany. By embracing the EU’s permitting rules — with measures like binding deadlines and treating wind energy as a public interest priority — Germany approved a record 15 GW of new onshore wind in 2024. That’s seven times more than five years ago.
If other governments follow Germany’s lead, Europe could unlock the full potential of wind energy and bolster energy security.
Grid connections: a growing crisis
Access to the electricity grid is now the biggest obstacle to deploying wind energy. And it’s not just about long queues — Europe’s grid infrastructure isn’t expanding fast enough to keep up with demand. A glaring example is Germany’s 900-megawatt (MW) Borkum Riffgrund 3 offshore wind farm. The turbines are ready to go, but the grid connection won’t be in place until 2026.
This issue isn’t isolated. Governments need to accelerate grid expansion if they’re serious about meeting renewable energy targets.
Electrification: falling behind
Wind energy’s growth is also tied to how quickly Europe electrifies its economy. Right now, electricity accounts for just 23% of the EU’s total energy consumption. That needs to jump to 61% by 2050 to align with climate goals. However, electrification efforts in key sectors like transportation, heating, and industry are moving too slowly.
European Commission president Ursula von der Leyen has tasked Energy Commissioner Dan Jørgensen with crafting an Electrification Action Plan. That can’t come soon enough.
More wind farms awarded, but challenges persist
On a positive note, governments across Europe awarded a record 37 GW of new wind capacity (29 GW in the EU) in 2024. But without faster permitting, better grid connections, and increased electrification, these awards won’t translate into the clean energy-producing wind farms Europe desperately needs.
Investments and corporate interest
Investments in wind energy totaled €31 billion in 2024, financing 19 GW of new capacity. While onshore wind investments remained strong at €24 billion, offshore wind funding saw a dip. Final investment decisions for offshore projects remain challenging due to slow permitting and grid delays.
Corporate consumers continue to show strong interest in wind energy. Half of all electricity contracted under Power Purchase Agreements (PPAs) in 2024 was wind. Dedicated wind PPAs were 4 GW out of a total of 12 GW of renewable PPAs.
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The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.
What we know about the BYD Han L EV so far
We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.
BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.
The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.
BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.
To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).
BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.
At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).
Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.