Hyundai Motor will aim to sell one-point-87 million electric vehicles(EV) a year by 2030 to grab a share of seven percent in the global EV market.
 
Announcing the new sales target on Wednesday, the Korean automaker said it would strengthen its EV lineup to produce more than 17 types of EVs, including Hyundai models and those of its independent Genesis brand.
 
The annual sales goal of one-point-87 million units in 2030 is more than 13 times more ambitious than its 2021 goal of 140-thousand EVs.
 
Hyundai explained that its sales drive will shift the company from combustion engine-based cars to EVs.
 
By region, the carmaker will focus specifically on the U.S. and European markets. It seeks to account for eleven percent of the EV market in the U.S. and six percent in Europe over the next eight years.
 
It plans to sell 290-thousand EVs in the domestic market to secure a market share of 58 percent.
 
Following the all-electric IONIQ 5 released last year, Hyundai will release the IONIQ 6 sedan this year and IONIQ 7 SUV in 2024.