Electric-powered vehicles are the future of the automobile industry for which everyone around the world is excited. Most of the top tier companies have already started preparing for this future and have totally switched from IC engines to battery-powered vehicles, which not only makes the car environment friendly but also generates an enormous power exciding that of any IC engine. The leading Korean car manufacturer Hyundai has also stepped up on the same path and has now announced that the company stops any further developments over IC Engines and will be solely focusing on the development of EV.
The step taken by the company will allow a more regressive and only one-way development of the technology concerning Batteries, Fuel Cells and many more as these sources not only serves as an alternate fuel but also helps keep the environment clean. Hyundai even plans to go all-electric by the end of 2040 and also tends to generate sales in the developed markets like China, the United States of America and many European countries. The company is also trying to push their global EV sales to achieve its goal to concur 10% global EV shares.
Companies do find it pretty tedious to comply with the emission norms of all the countries with each having their own specifications for it; however, switching to EVs will not only make it simple for the carmakers but also for the capital investment on it. Many companies like Ford, Volkswagen Group, GMC and Volvo have also shown quite some interest in the potential of this future alternate car powering source. The carmaker Mini has even announced that it won’t be making any IC engine car any further and will also be solely focusing o developing on its EV line-up. In India Hyundai only has 1 Electric powered vehicle, which is the Kona EV that isn’t a great sale product because of its cost.