Hyundai unveiled its all new electric vehicle (EV) platform on Wednesday, promising to have 25 electrified vehicles and 11 fully electric vehicles by 2025.
The South Korean automaker expects to have the first vehicle using the EV platform, known as the Electric Global Modular Platform (E-GMP), early next year. The company said it will use its own battery technology to reduce costs, along with production time.
By doing so, it expects to cut the number of components across its its electric fleet by as much as 60%.
“E-GMP will be highly effective in expanding the Group’s EV leadership position as it will enable the company to enlarge its EV line-up over a relatively short period through modularization and standardization,” Hyundai said in a statement.
According to figures released by the company, a vehicle on E-GMP will have a range of 500km (310 miles) or more based on the generous WLTP standard. That represents a more than 20% increase from the Hyundai Kona, the company’s current EV range leader.
The platform will also support bi-directional, or vehicle-to-grid (V2G) charging.
When it comes to performance, Hyundai said a planned high performance EV on the platform will reach 60mph in under 2.5 seconds, and have a top speed of 161mph (259km/h).
The new EV platform will help Hyundai, and its sister company Kia, reach 1 million EV sales by 2025.