Despite a global slowdown in electric vehicle (EV) sales, Hyundai Motor Group is planning to sell two million EVs a year globally by 2030, the South Korean automaker said during CEO Investor Day meeting on Wednesday. The company is aiming to offer a full lineup of 21 EV models by 2030. Amidst the recent slowdown in EV sales, the company is developing a new EREV (extended range electric vehicle) strategy, which will combine the advantages of internal combustion engines (ICE) and EVs, according to the company. “Hyundai Motor has developed a unique new powertrain and power electronics (PT/PE) system to enable four-wheel drive with the application of two motors. The operation is powered solely by electricity, similar to EVs, with the engine being used only for battery charging,” said the company. According to Hyundai Motor India, the new EREV increases the driving range to more than 900 km. The company claims that the new EREV also maximises the use of the existing engine in terms of battery capacity optimisation and allows refueling, and stress-free charging. “In the electrification era, Hyundai has distinguished itself by rapidly launching a comprehensive lineup of EVs, catering to not only mass-market brands but also to the luxury and high-performance segments. Building on our advanced technology and dedication to innovation, we aim to secure a leading position in the market as the adoption of electrified vehicles gains momentum,” said Jaehoon Chang, President and CEO of Hyundai Motor Company.