Automotive giant to begin electric vehicle production in Turkey

GOAL: INCREASE ANNUAL SALES BY 30-35%

Hyundai aims to reach 5.55 million vehicles by 2030 by increasing its annual sales by 30-35 percent. It is planned that 2 million of these vehicles will consist of electric models. To date, the company has produced 3 million vehicles and exported over 2.5 million units. In 2023, Hyundai produced 245 thousand vehicles and exported 204 thousand of them, generating 2.4 billion dollars in revenue.

A NEW ERA IN ELECTRIC VEHICLE PRODUCTION IN TURKEY

Hyundai's electric vehicle production in Turkey stands out as part of the company's goal to offer only zero-exhaust emission vehicles in Europe by 2035. The company, which has changed its trade name to Hyundai Motor Turkey, aims to increase its production capacity and sustainability efforts.

2024 TARGET: 65 THOUSAND VEHICLE SALES IN TURKEY

The Turkish automotive market is expected to reach 1.1 million units in 2024. It is stated that Hyundai aims to achieve 65 thousand vehicle sales in this market and deliver over 7 thousand electric vehicles. The company is also planning to increase its market share to 5.9 percent.

FROM THE İZMİT PLANT TO EUROPE

Hyundai will respond to sustainable mobility demands in Europe with the new electric model it will produce at its plant in İzmit. This model will be included in Hyundai's expanding electric vehicle portfolio and will make a significant contribution to the company's future electric vehicle production capacity. Additionally, Hyundai plans to continue the production of internal combustion engine vehicles in this new era.

News Source: 12punto