[Pick]”Double the market share gap with Tesla”…Hyundai Eui-seon, who cannot laugh at the launch of the Ioniq 5

[FETV=김현호 기자] “Tado Tesla!” Hyundai Motor Group has unveiled the Ioniq 5, which has been caught in the electric vehicle business. It is determined to increase its market share by combining a platform for electric vehicles, ultra-fast charging, and V2L (Vehicle to Load) technology. Ionic 5 is evaluated as an important business that can predict the future of the company, such as an electric vehicle model that Hyundai will release in the future and a vehicle equipped with autonomous driving technology. Chairman Eui-sun Eui has already pointed out electric vehicles as the future growth engine of the Hyundai Motor Group and is focusing his efforts on it.

The Ioniq 5, which was introduced this time, is a signal that announces the departure of Hyundai Motors’ eco-friendly automobile business. The ultimate goal of Chairman Eui-sun Eui-sun and Hyundai Motor Company is to be the world’s No. 1 leader, overtaking Tesra of the United States, a leader in the global electric vehicle market. However, for Hyundai Motors, there is still a long way to go. This is because the gap in market share with Tesla is so large. With eco-friendly cars rapidly emerging as the biggest battleground in the global automobile market, attention is paid to whether the electric car project of Hyundai Motor Group Chairman Eui-sun Eui-sun will cruise without off-track.

◆ Even with the release of the Ioniq 5…Hyundai Motor, whose shares have not recovered = Hyundai Motor Company unveiled the Ioniq 5 on the 23rd. With the application of E-GMP, a platform exclusively for electric vehicles, it can be fully charged in 18 minutes and can travel up to 430 km with a single charge, so it can be completed from Seoul to Busan. It is similar in size to Tucson, but plans to target the market between Tesla’s Model 3 and Model Y by expanding the interior space than Felizade.

Ioniq 5 was the first Hyundai Motor Company to apply digital side mirrors. Hyundai Motors explains that blind spots can be greatly reduced by replacing ordinary mirrors with cameras and monitors. The model is released in two models, the long range and the standard, and the price is set at the beginning and mid-range of 50 million won. If you add individual consumption tax benefits and purchase subsidies, you can purchase at the end of the 30 million won range.

According to the US market research firm IHS Markit, the eco-friendly car market is expected to soar from 13.3 million units in 2020 to 56.6 million units in 2025. In line with this, Hyundai Motor Company announced that it will introduce more than 12 models by 2025 and sell 560,000 units a year. It then set a goal to achieve 8-10% of global electric vehicle market share by 2040 by securing leadership in the mid- to long-term electrification market.

Hyundai Motor Company said that it will start pre-booking the Ionic 5 from the 25th, but did not present a specific sales target. However, Lim Eun-young, a researcher at Samsung Securities, said, “Hyundai Motor’s sales target for electric vehicles this year is 160,000 units, which is estimated at 70~80,000 units considering Kona EV’s discontinuation in Korea.”

Hyundai Motor Company is trying to increase its dominance in the eco-friendly car market through Ioniq 5, but the market reaction was cold. According to the Korea Exchange, on the 24th, Hyundai Motor’s stock price closed at 23,8500 won, down 9500 won from the previous day. The stock price is weak compared to last month, which showed the highest level ever due to expectations for mobility and Apple car issues.

◆’Overthrow’ Tesla shouts… but the quality problem is Domae = The reason Tesla is reigning as the throne of the electric car market is because it developed its own platform before its competitors. Tesla’s latecomers, Hyundai Motor Group, Germany’s Volkswagen Group, and US’ GM, have produced electric vehicles based on engine-centered internal combustion locomotive platforms rather than building a foundation for electric vehicles. This led to a widening gap with Tesla.

Tesla sold 49,950 units last year, more than doubled its size compared to 2018 (about 250,000 units). It sold 18,570 units in the fourth quarter alone, setting a record for the quarter in history, and production exceeded 500,000 units for the first time.

According to market research firm SNE Research, Tesla achieved 17.5% of the global electric vehicle market share as of the third quarter of last year, surpassing Volkswagen Group (12.9%), Renault Group (8.2%), and Hyundai Motor Group (7.2%). Recorded. Tesla is not limited to this, and plans to double the production capacity of its Chinese plant this year and start operating the Giga Factory in Berlin, Germany in July to increase production.

The Hyundai Motor Group needs to solve the quality problem in order to realize the vision that Chairman Eui-sun Eui-sun professed through his New Year’s speech, “This year should be the first year of electric vehicle leap forward”. In the third quarter of last year, Hyundai Motor Company set a provision of 2.1 trillion won as a provision for the quality cost of the Theta 2 direct injection (GDI) engine, and the risk of Kona EV, which caused a subsequent fire accident, remains.

Song Seon-jae, a researcher at Hana Financial Investment & Securities, said, “The key variable that will determine Hyundai Motor’s future years is E-GMP, and the success of Ioniq 5 can predict Hyundai’s position in the electric vehicle market while evaluating the marketability of E-GMP.” “It is an important catalyst that contributes to enhancing the marketability of E-GMP and Hyundai’s position in the electric vehicle and autonomous vehicle market”.