Hyundai to make EV truck?

HYMLF Ratings by Stock Target Advisor

Hyundai EV truck based on Santa Cruz

Hyundai is making significant strides in the electric vehicle (EV) market, and there are indications that the company is exploring the possibility of introducing an EV truck based on its Santa Cruz model. The development of this electric truck could leverage Hyundai’s new Integrated Modular Architecture (IMA) platform, which is set to replace the current E-GMP platform.

The IMA platform represents a notable advancement for Hyundai, offering maximum flexibility and the ability to cover a wide range of vehicle classes. Hyundai’s CEO, Jaehoon Chang, stated that the IMA platform will extend beyond mid-size SUVs and encompass various vehicle categories, including small and large SUVs, pickup trucks, and even flagship models of the Genesis brand.

While specific details about the EV pickup were not disclosed, Hyundai’s sister company, Kia, has already announced plans to introduce two electric trucks as part of its lineup. During its investor day in the previous year, Kia revealed its strategy to launch at least two EVs per year, aiming to have a total of 15 electric models in its lineup by 2027. Among these models, one will be a dedicated electric pickup truck, while the other will serve as a strategic model catering to emerging markets.

Furthermore, as Kia continues to expand its electric vehicle offerings, it plans to introduce EVs in every segment, utilizing the support of Hyundai’s new platform. This platform sharing allows Hyundai and Kia to leverage synergies and technological advancements across their respective brands.

On the other hand, Hyundai itself may be developing an electric truck under its own brand. The Santa Cruz, Hyundai’s first pickup, has been gaining momentum in the US market, showcasing the company’s potential in the truck segment. Given this progress, there is speculation that Hyundai could further explore the electric truck market, potentially even introducing an electric truck under its luxury brand, Genesis.

While further details regarding Hyundai’s electric truck plans are yet to be unveiled, the company’s focus on electric mobility and its commitment to expanding its EV lineup demonstrate its determination to be at the forefront of the evolving automotive industry.

As the demand for electric trucks continues to grow, Hyundai’s potential entry into this segment, whether through its own brand or its subsidiaries, showcases its efforts to cater to evolving consumer preferences and contribute to the wider adoption of electric vehicles.

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