Alabama NewsCenter – Hyundai raises 2030 electric-vehicle sales goal to 2 million

By: Heejin Kim / Bloomberg

Hyundai Motor Co. said it will sell 2 million electric vehicles (EVs) annually by 2030, raising its forecast from 1.87 million a year ago, as demand for clean-energy cars continues to surge.

The South Korean automaker also plans to spend about $85 billion to boost production and make progress in areas such as hydrogen cars, EV batteries and software for future mobility, the company revealed.

The investment pledge from the world’s third-biggest carmaker follows Toyota Motor Corp. laying out an ambitious plan to sell 1.5 million battery EVs by 2026. Ford Motor Co. is pursuing a radical restructuring with ambitions to make 2 million EVs a year by 2026.

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