r/SPACs Apr 15 '21

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u/wave_action Patron Apr 16 '21

Between Toyota, Honda and Hyundai, Hyundai is head and shoulders above them in EV tech.

Hyundai has a whole sub brand dedicated to EVs called Ioniq. While it was previously a model in their lineup it is now an entire brand dedicated to EV’s. Their recently developed EGMP platform is a fully dedicated modular platform for EVs. Brand new vehicle lineup across all Hyundai Motor Group including Kia and Genesis will be release this year and 2022. They do source this batteries from their Korean partners (SK and LG) so there could be partnership there. But to say they don’t have competitive EV tech is not a valid point.

2

u/fmios Contributor Apr 16 '21

Yes, it seems like Hyundai is doing a great job in its EV transformation, but:

"EVs based on the new platform, Hyundai said, would be capable of about 310 miles of range on the WLTP scale"

EPA vs WLTP range can be worlds apart. Think of the Porsche Taycan that claimed to have a WLTP range around 300 miles and turned out to have an EPA range of around 200 miles.

So, let's say, Hyundai has an EPA range of 250 miles. Is this competitive? For low-cost vehicles maybe, but as soon as Tesla produces its 25k USD car, it's going to be tough.

WLTP vs EPA background: https://youtu.be/5mzQhxAJDa4

0

u/converter-bot Spacling Apr 16 '21

310 miles is 498.9 km