Hyundai Makes Bold Move to Take on Toyota with Cutting-Edge Electric Vehicles
As the auto industry moves towards a future dominated by electric vehicles, Hyundai may have an advantage over Toyota. The Korean automaker has been heavily investing in electric and hybrid technology for the past several years, and has already released a number of popular electric models such as the Hyundai Kona Electric and the Hyundai Ioniq Electric. In addition, Hyundai has partnerships with leading tech companies such as Apple and Uber, which could give it a leg up in the race to develop advanced electric and autonomous vehicles. Toyota, on the other hand, has been slower to embrace electric technology and has faced criticism for its reliance on hybrid vehicles rather than fully electric options. While Toyota is still a formidable competitor, Hyundai's focus on electric technology may give it the edge as the industry shifts towards a more sustainable future.
The Hyundai Motor Company is making massive strides in the automotive industry, surpassing General Motors (GM), Nissan, and Stellantis in annual volume this year. This is an impressive feat for the company, quickly establishing itself as a true competitor in the market.
Hyundai Successfully Managed Supply Chain
Hyundai's co-CEO, Jaehoon Chang, attributes this success to their flexible supply chain management, which allowed them to navigate the semiconductor shortage. This strategy has put them in a strong position to move forward, while other automakers have not been as successful.
Hyundai is also looking toward the future of travel with their heavy investment in EV technology. The company is pushing forward with their electric vehicles, while other automakers like Toyota have been slow to come to the table. This forward-thinking approach has allowed Hyundai to stay ahead of the curve in terms of innovation, putting them in a great position for the future.
The success of Hyundai Motor Company is a testament to their flexibility, forward-thinking approach, and dedication to innovation. With the company surpassing GM, Nissan, and Stellantis in volume this year, it's clear that Hyundai is here to stay.
Hyundai Embraces EV Revolution, Toyota Lags Behind
Hyundai is forging ahead with its electric vehicle revolution, taking full advantage of the burgeoning EV market in North America and around the world. With its 19.4 trillion won ($15.2 billion) investment into electric vehicle technology, Hyundai is aiming for 1.87 million EV sales globally, or around 7% of the global market share, by 2030.
Hyundai’s electric models, such as the IONIQ 5 and Kia EV6, continue to drive significant demand and helped Hyundai achieve a record November sales month in the US, as it battles with Ford for second in US electric vehicle sales.
Hyundai’s initiative is in stark contrast to that of the world’s largest automaker, Toyota, which has consistently warned against going all in on EVs while maintaining a hybrid approach. Toyota’s first electric vehicle, the bZ4X, has had a shaky rollout with a safety recall concerning the wheels falling off, and Toyota has failed to gain any real momentum with its EVs.
It is clear that Hyundai is leading the EV revolution while Toyota is lagging behind. Hyundai’s aggressive approach to EV technology and its commitment to clean, renewable energy is positioning the company to be a major player in the electric vehicle market. Toyota, on the other hand, is struggling to keep up, leaving the door open for other automakers to capitalize on the shift to electric vehicles.
This all begs the question: can Hyundai use its increasing electric vehicle (EV) sales to gain ground on Toyota?
The answer isn’t a simple yes-or-no. If Hyundai wants to truly edge out Toyota, the automaker must ensure that it maintains its current levels of technological advancement, customer service, and brand recognition.
In terms of the second requirement, customer service, it is critical that Hyundai builds a customer service infrastructure that is able to handle the increase in demand for EVs, both in the US and worldwide. Hyundai must ensure that customers have access to charging stations and other maintenance services in timely manner and without hassle.
As for technological advancement, Hyundai needs to stay ahead of the curve, introducing new, innovative products and features to appeal to a wide range of customers.
Finally, Hyundai must work to create a strong, recognizable brand. It needs to make sure people recognize Hyundai as an EV-friendly, eco-friendly, and technology-forward car brand.
By meeting these criteria, Hyundai can gain an edge over Toyota, and take advantage of the growth in the global electric vehicle market. With sales of EVs expected to more than double over the next decade, it’s no surprise that Hyundai is looking to capitalize on this shift. With the right strategy, Hyundai could take a major stake in the electric vehicle market and give Toyota a run for its money.
The future of the automotive industry is electric, and it looks like Hyundai is ready to take the lead. Hyundai’s been ahead of the curve when it comes to electric vehicles, having developed their dedicated EV platform (E-GMP) and now their purpose-built electric vehicle platform, the integrated modular architecture (IMA). This platform is designed to streamline production and make the transition to electric cars easier.
Taking its cues from the success of Tesla in the EV market, Toyota has also announced plans to develop an EV platform from the ground up. While Toyota has been investing in a variety of technologies, like hybrids and hydrogen fuel cells, Hyundai has gone all-in on electric vehicles. This allows Hyundai to focus its resources on making their EV’s the best they can be and becoming the industry leader.
As EV sales continue to climb globally, it will be interesting to see who comes out on top. It looks like Hyundai is in a great position to be the one to watch in EV sales due to its focus and commitment to electric vehicles. While Toyota has its hands in multiple technologies, Hyundai is focusing all their energy on making electric vehicles the best they can be, and this will give them the edge in the long run.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.