Hyundai's new EV strategy aims to rapidly ramp up volume, efficient manufacturing and flexible product engineering to drive down costs as the automaker seeks profit margins of 10 percent on the coming line of EVs riding on its new platform.
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Hyundai Motor Group said Tuesday it aims to boost its annual sales of electric vehicles in global markets sixfold to 2 million units by 2030 under its revamped electrification strategy. Under its 10-year financial plan worth 109.4 trillion won ($85.1 billion), it plans to inject 35.8 trillion won into electrification. On average, 3.6 trillion won will be invested in EVs and batteries annually, which is higher than la.