What is in store for Hyundai in 2024 and 2025?

[MummyChunk]

From HML
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Hyundai Motor Company is one of the world s largest automakers, and it
has been making waves in the industry with its innovative designs and
cutting-edge technology. This is what is coming from Hyundai in the
upcoming years of 2024 and 2025.

New Models:

Hyundai has two all-new models in its lineup for the 2024 model year.
The first is the Hyundai RN22e concept, which showcases what
high-performance Hyundai EVs will be like in years to come. The design
is based on the new Hyundai Ioniq 6, and the technology in this
prototype may debut next year in a Hyundai Ioniq 5 N. The second model
is the 2025 IONIQ 5 N, which is the first electric vehicle to wear the
N badge. It is expected to be available in extremely limited
quantities and at select dealers in select states only.

Strategy 2025:

Hyundai has updated its Strategy 2025 plan, which focuses on four
areas: EV, UAM, autonomous driving technology, and hydrogen fuel cell
systems. The company aims to take the lead in the global EV market in
the mid to long term, with a target of 8-10% of share in the global EV
auto market. Hyundai also plans to expand its electrified lineup from
2021 with the addition of IONIQ EV lineup. A new EV architecture
development system will be introduced and applied to models slated for
launch in 2024. Hyundai targets sales volume of 670,000 zero-emission
vehicles by 2025, including 560,000 BEVs and 110,000 FCVs (about
one-fifth of BEVs).

Challenges:

Hyundai faces several challenges in the upcoming years. One of the
biggest challenges is competition from other automakers. Companies
such as Tesla, Ford, and General Motors are investing heavily in
electric vehicles, and they have larger customer bases and more
resources to invest in marketing and advertising. Hyundai will need to
find ways to differentiate itself from these competitors in order to
remain relevant.

Another challenge that Hyundai faces is the issue of data security.
The company has faced several data breaches in recent years, which
have compromised the personal information of millions of users. These
breaches have damaged the company s reputation and eroded user trust.
Hyundai will need to invest in stronger security measures to prevent
future breaches.

Hyundai also faces challenges in terms of product quality. Many users
have reported receiving damaged or defective items, or items that do
not match the description provided by the seller. Hyundai will need to
find ways to ensure that the products being sold meet the expectations
of their customers.

Conclusion:

In conclusion, Hyundai is a company that is committed to innovation
and sustainability. With its updated Strategy 2025 plan, Hyundai aims
to take the lead in the global EV market and expand its electrified
lineup. However, the company also faces several challenges, including
competition from other automakers, data security issues, and product
quality concerns. Hyundai will need to find ways to address these
challenges in order to remain competitive in the industry and continue
to grow.