Hyundai Motor Group Executive Vice Chairman Chung Eui-sun.

Hyundai Motor Group, expanding the production of eco-friendly cars, is stepping on the gas to nurture energy-related businesses in a more aggressive way.

The group’s initial goal is to secure EV and hydrogen fuel cell car infrastructure.

As related businesses expand, the group’s business portfolio will diversify into areas ranging from auto production, steel, construction and financing to new businesses.

Of late, Hyundai Motor registered “Hi Charger” and “I.O.N,” the new brands for EV charging and related trends, according to trademarks registered with the Korean Intellectual Property Office (KIPO).

The automaker has begun to overhaul brands as it is expanding its business into ones related to charging, beyond the conventional EV car production.

In a revision of articles of association, made earlier this year, Hyundai Motor added EV charging and related businesses to its businesses portfolio. The automaker plans to build 20 high-speed EV charging stations, including 12 at expressway service areas.

Hyundai Motor plans to release IONICQ 5, capable of being charged 80 percent in 20 minutes. Hyundai Motor is also mulling the recycling of spent batteries, as EV cars hitting the street is on the rise.

Hyundai Motor has teamed up with Hanwha Q Cell to make a plan for new businesses connecting spent EV batteries and photovoltaic power systems.

The group’s energy businesses are becoming nimbler in the hydrogen economy sector. Hyundai Motor, the world’s first automaker to mass produce a hydrogen fuel cell car, is expanding collaboration to establish the ecosystem of the hydrogen economy.

A view of the all-new G80, released by Hyundai Motor. (Photos: Hyundai Motor Group)

Geninis Outsell 3 German Brands in Korea

In July, Hyundai Motor’s premium standalone brand, Genesis, outsold Benz, BMW and Audi, three German brands which have dominated the domestic luxury car market for years.

Figures released by Caris Data Lap on Aug. 11 showed that Genesis sold 12,310 units in July, surpassing 12,310 units, the figure the three German brands sold altogether. It is the first time that Genesis has outsold the three German brands since 2015 when the former made its debut as a stand-alone luxury brand. 

 Genesis sold 3,786 units in January. But the brand began to sell more than 10,000 units monthly since May when the brand released new cars such as GV80 and G80.

The three German brands continued to increase sales in Korea, but due to insufficient supply, caused by the spread of the COVID-19 pandemic, their combined sales, which peaked to 15,173 units in July, subsided to a range of 11,000 units in June.