Hyundai Motor Company today announced its commitment to become carbon neutral by 2045 at IAA Mobility 2021.
Hyundai’s integrated strategy to achieve carbon neutrality rests on the following three pillars: clean mobility, next-generation platforms, and green energy. Hyundai is showcasing the full breadth of its electrified vehicle lineup and latest solutions to progress with positive energy at this year’s IAA taking place from September 6 to 12 in Munich, Germany.
“Under our company’s vision, Progress for Humanity, Hyundai Motor is determined to do the right thing for the world,” said Jaehoon (Jay) Chang, President, and CEO of Hyundai Motor Company. “Climate change is an undeniable challenge that needs everyone’s utmost and urgent attention. Hyundai Motor commits to become carbon neutral in its global products and operations by 2045, and we will make investments in cleaner transportation and greener energy solutions to achieve a better and more sustainable future for all.”
Hyundai Motor commits to gradually increase the sales share of zero-emission vehicles (ZEVs) in upcoming years. By 2030, Hyundai aims to secure 30 percent of its global vehicles sales with ZEVs, and by 2040, the company expects that battery electric vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs) will account for 80 percent of its total fleet sales.
By region, Hyundai Motor plans to offer only ZEVs in Europe, starting in 2035. By 2040, Hyundai will phase out all vehicles using fossil fuels in major markets, supportive of the transition to clean mobility.
In August 2020, Hyundai Motor launched its new IONIQ brand for dedicated BEVs, signaling its commitment to the electrified mobility era. Later that year, Hyundai Motor Group, the parent of Hyundai Motor Company, unveiled its Electric-Global Modular Platform (E-GMP) for dedicated BEVs.
Hyundai Motor’s Ioniq 5, which launched in February 2021, is the brand’s first BEV built upon E-GMP. Ioniq 5 has set a new benchmark for redefining the electric mobility lifestyle with sustainable and innovative features, such as 400 V and 800 V multi-charging and Vehicle-to-Load (V2L).
Hyundai’s next dedicated BEV will be Ioniq 6, which draws inspiration from its Prophecy EV concept that is on display at IAA 2021. Ioniq 6 is going to offer BEV experiences with a focus on customized, eco-friendly solutions that can fit any lifestyle.
Hyundai Motor has invested in hydrogen fuel cell technology for more than 20 years. Hyundai launched ix35, the world’s first mass-produced FCEV, in 2013, followed by NEXO, the first dedicated hydrogen-powered SUV, in 2018. Last year, the company delivered XCIENT Fuel Cell, the world’s first mass-produced, fuel cell electric heavy-duty truck, to customers in Switzerland. Hyundai recently presented its Elec City Fuel Cell bus in Munich and the vehicle is now in a testing phase in Europe.
Hyundai Motor’s carbon neutral strategy goes beyond the transition to ZEVs. It aims to provide cleaner and greener energy solutions for all. This includes not only using renewable energy at the company’s production facilities, but also making long-term investments in future technologies, such as green hydrogen based on renewable energy, Vehicle-to-grid (V2G) and Second Life Battery Energy Storage System (SLBESS).
- Vehicle-to-grid (V2G): V2G is the latest technology that allows energy to be pushed back to the power grid from the battery of an EV. It enables efficient energy demand management especially during peak hours, thus lessoning dependence on fossil fuels.
Hyundai is currently conducting several V2G pilot programs with various stakeholders in the market. The company plans to implement the V2G function to its upcoming BEV models.
- Second Life Battery Energy Storage System (SLBESS): Hyundai Motor is also looking to recover and transform end-of-life batteries into a new business of energy storage system. Hyundai is currently working with various local energy partners to run pilot projects to commercially reuse second-life EV batteries. Also, the company is scheduled to test a small size application of SLBESS in Germany next year.
Green hydrogen obtained from electrolysis of water generated by low-carbon power sources is expected to significantly reduce carbon emissions. Hyundai Motor has invested in global startups, such as H2Pro, to cooperate in the field of green hydrogen. Furthermore, Hyundai plans to establish green hydrogen infrastructures in countries with strong government support and abundant renewable energy sources.