Despite talk of an “EV slowdown,” Hyundai is charging ahead. Hyundai is launching two new electric vehicles in Europe, including a low-cost EV and a new IONIQ model, to boost its market share in the region.
Hyundai does not see its EV growth slowing in Europe over the next few years. With two new electric cars launching in key segments, Hyundai Europe CEO Michael Cole expects to maintain momentum.
“Our aim is that sales of EVs account for 14 percent of our total sales in Europe this year – or even a bit more,” Cole told the Automotive News Europe Congress.
Some parts of Europe, like Germany, ended subsidies on electric cars. As a result, EV sales fell 31% last month compared to May 2023. Despite rivals pulling back, Hyundai is doubling down as it looks to solidify its leadership in the EV era.
Part of the confidence comes from two new EVs hitting…