Electric vehicle market rising in 2021… Choices expand

While the electric vehicle market is expected to expand this year, a number of new models for domestic and overseas automakers are set to launch. With the introduction of designs optimized for electric vehicles, the mileage is also improving.

According to market research firm SNE Research on the 10th, global electric vehicle sales this year are expected to increase by 43.3% from the previous year (about 4.8 million units) to 6878,000 units.

As consumer options expand, EV sales are expected to increase in the Korean market as well. Domestic and foreign automakers are announcing plans to launch new electric vehicles.

The Hyundai Motor Group is expected to start the transition from internal combustion locomotives to electric vehicles this year. The electric vehicle platform’E-GMP (Electric-Global Modular Platform)’, which was unveiled in December last year, is a signal. The platform is a design that is commonly applied to several vehicle models, and usually constitutes the lower body structure. Electric vehicles have fewer parts than internal combustion locomotives, so they need to use an optimized platform separate from internal combustion locomotives to increase their efficiency. As parts that used to occupy space in the internal combustion locomotive are removed, the interior space can be designed more efficiently.

Hyundai Motor Group explained that E-GMP-based electric vehicles can drive up to 500km or more with a single charge depending on the vehicle type, and that 80% of the electric vehicles can be charged within 18 minutes when using a super-fast charger. It means that the electric cars that Hyundai Motor Group will release in the future will have similar performance.

The Hyundai Motor Group plans to launch more than 12 E-GMP-based electric vehicle models by 2025. In addition, by 2040, all models of power units in the world’s major markets will be switched from mechanical type such as engine transmission to electric type such as battery motor.

The first E-GMP-based electric vehicle is Hyundai’s Ioniq 5, which is scheduled to be released soon. It can drive more than 100km with a 5-minute charge. General power (110/220V) can also be supplied to the outside of the vehicle through V2L (Vehicle to Load) technology. Hyundai Motor Company plans to unveil the IONIC 5 online this month.

Genesis, a premium Hyundai brand, will also launch electric vehicles from this year. Hyundai Motor Company President Albert Beerman said at’CEO Investor Day’ in December last year, “We will enter the high-end line of electrification models by entering the Chinese and European markets of Genesis, which has been established as a luxury brand in the domestic and US markets.”

Kia is planning to release the electric vehicle model CV in July. It runs 100km on a 4 minute charge. The CV is meaningful in that it is a dedicated electric vehicle. Until now, Kia has only sold electric vehicles derived from the internal combustion locomotive model. Kia’s electric cars, such as Niro EV and Soul EV, are each based on the internal combustion locomotive of the corresponding model. Starting with the CV, Kia plans to release seven exclusive electric vehicle models by 2026.

General Motors of the United States (GM) is releasing a model with a partial change to the Chevrolet Volt EV and Volt EUV within this year. The Volt EV, which was imported and sold by GM Korea, was the only electric vehicle model in Korea that was designed based on a platform exclusively for electric vehicles until last year. The mileage of the 2020 model Volt EV, a compact car, was 414 km, which is an increase of 31 km compared to the previous model. Assuming that the new model is improved to a similar level, the mileage will reach about 450 km.

Volt EUV is a sports utility (SUV) version of Volt EV. This is the first model to be applied with a platform exclusively for next-generation electric vehicles that GM unveiled last year. The platform is powered by the’ultium battery’ developed by GM. GM explains that it can drive up to 644 km on a single charge. It is reported that LG Energy Solutions has cooperated with the Ultium battery development.

Renault Samsung Motors is entering the Korean market in earnest by Renault Joe, which has been recognized for its competitiveness in the global market. Zoe is Renault’s first electric vehicle platform-based model and has become a bestseller in the European market since its launch in 2012. Last year, it sold more than 100,000 units in the European market, ranking first. The driving distance when fully charged is 309km, which is less than the equivalent Volt EV in terms of numbers.

Renault Samsung recently started pre-booking with Joe. Joe is sold in three trims. It was in August last year that Joe first entered Korea. The sales volume was less than 200 units, which did not achieve good results.

Ssangyong Motor, which is struggling to attract new investments, also plans to launch an electric vehicle this year. In July, Ssangyong Motor unveiled its first electric car E100 (project name) teaser image. It is a semi-mid-sized SUV and is about to be released in the first half of this year.

Ssangyong Motor’s entry into electric vehicles was particularly late in the domestic automobile industry. Amid prolonged business difficulties, India’s major shareholder Mahindra has been slow to respond to the trend of EV conversion. It has not been able to develop a platform exclusively for electric vehicles. There are observations that the E100 will be based on the Korando.

Three German companies also compete for electric vehicle launches… Tesla to release Model Y, subsidy cut

The launch of electric vehicles is expected to continue in foreign automakers.

Looking at the three German companies, Mercedes, which runs No. 1 in the domestic imported car market, plans to release EQA in the first half and EQS in the second half. Based on the GLA model, a semi-mid-sized SUV, the EQA’s mileage when fully charged is 426 km. Depending on the fast charging environment and the condition of the battery, it takes about 30 minutes to charge from 10% to 80%. Depending on the fast charging environment and the condition of the battery, it takes about 30 minutes to charge from 10% to 80%. The EQS based on the S-class model is expected to be able to travel 700km on a single charge.

BMW is also planning to release two electric cars at the end of the year. The iX, which was unveiled in November of last year, is a semi-large SUV and is expected to have a driving range of 600 km. However, the number may vary depending on the mileage measurement standard. The iX3 is an electric vehicle derived from the mid-sized model X3. The driving range is about 450 km.

Audi unveiled the e-tron GT on the 10th. It is a model of the coupe sedan and has a mileage of 488 km. Earlier, Audi also launched the e-tron in Korea in November. At that time, the initial 600 units were sold out in two months. In the future, Audi, as a premium digital car company, plans to introduce 20 types of electric vehicles, including the e-tron GT, and the e-tron Sportback and the Q4 Sportback e-tron by 2025.

Tesla, a global electric vehicle market leader, also unveiled improved models of Model S and Model X last month. Although the domestically certified mileage has not yet been released, Tesla predicts the mileage of Model S and Model X at 663km and 580km, respectively. For the first time in Korea, the mid-size SUV Model Y will also be released. Tesla is expected to start accepting orders in the first quarter, but release date, price, and sales trim are undecided. Tesla Korea is exhibiting Model Y at the Tesla Gallery in Lotte Department Store’s Yeongdeungpo branch and Lotte World Mall in Songpa-gu.

Electric vehicle subsidies provided by the government are also expected to affect market competition. According to the ‘2021 Electric Vehicle Subsidy System Reorganization Plan’ announced by the Ministry of Strategy and Finance, the Ministry of Environment and the Ministry of Trade, Industry and Energy, subsidies are not applied to high-priced electric vehicles of 90 million won or more. Only 50% is paid for 60 to 90 million won Subsidies are excluded for Tesla Model S, and subsidies of 3.29 million to 6.84 million won were set for Model 3. Kona EV and Niro EV, which have the largest subsidies, receive 9 million won from the government. Domestic automakers are mainly releasing small electric vehicle models, which is expected to be advantageous in terms of subsidies.

Reporter Jo Han-moo

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