China EV makers push the global green industry to select top gear image

Hyundai says the increased global rivalry on the electrified segment is forcing the automakers to really speed up the development of new green technologies.

The green trend did not have the proper market impact that the carmakers thought it would have some years back and battery-powered cars have not gain so much traction because of a slow development pace. However, things seem to have entered into another gear these days and the upcoming future promises to revolutionize the green automotive industry. The push will thus force automakers to really boost their R&D investments and propose new improved electrified models way sooner than they are used to when it comes to their conventional-powered models. Hyundai says global carmakers have to be ready to spawn new electric cars every two years, at most, as the technological rivalry promises to be fierce.

“Electrical vehicles are changing real fast. From a conventional perspective, two years or maybe a year-and-a-half is not really a long time,” Ahn Byung-ki, director of eco-vehicle development at Hyundai Group, recently said in an interview, cited by Automotive News. “But in the EV business, it is a pretty long time. We have to be ready for the new generation every two years.”

Companies such as Tesla are “responsible” for this rush, but Ahn believes that “after Chinese companies have come into the business, they have really led the change.” There are a lot of newly China-based EV makers with ambitious goals. “They have a lot of EV firms, almost 200,” he added. “They are very serious.” Furthermore, they also made huge technological leaps since foreign carmakers selling EVs in China must use components developed with and by local suppliers.

Via Automotive News