South Korean carmaker Hyundai plans to launch new electric vehicle (EV) models in China from 2022 while Chinese auto producer Geely’s EV unit—Polestar, has raised $550mn to expand production.
Hyundai Motor Group said in a statement on Thursday that it will unveil 21 new EV models from Hyundai Motors and Kia, including fuel-cell and hybrid versions by 2030. The group also plans to cut the number of gasoline vehicle models in China to 14 from 21 within the next four years.
Polestar plans to accelerate EV product development and output of new models from its Chengdu plant in China. The company hasn’t disclosed production schedules or numbers; however, it is looking for more investor interest, Geely indicated in a media statement on Thursday.