HYMLF - Hyundai plans for huge push into electric vehicles

Hyundai (HYMLF) unveiled its electric vehicle platform called E-GMP, which it says will be the base for an EV future for the Hyundai and Kia brands. The South Korean automaker says vehicles on the new EV platform can generate as much as 600 horsepower, will be targeted for 300 miles of driving range and should include a high-performance model. By 2025, Hyundai expects to have 23 battery-electric vehicles in its lineup. "E-GMP will be highly effective in expanding the Group's EV leadership position as it will enable the company to enlarge its EV line-up over a relatively short period through modularisation and standardisation," reads a statement by Hyundai on the new platform. Shares of Hyundai fell 0.55% in Seoul today.

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Hyundai plans for huge push into electric vehicles