EV strategy With the Ioniq 6, Hyundai's latest EV that is aimed at younger buyers, leading the charge, the automaker is embracing electrification. While Volkswagen has struggled to get its EV strategy on track and Toyota still weighing its bets on hybrids, the South Korean company pushed out models such as the Ioniq 5 and affiliate Kia's EV6 just as demand started to outpace supply. Fueled by its success and backed by 19.4 trillion in investments, Hyundai plans to introduce at least 17 battery-powered EVs by the end of the decade, in additon to 14 by Kia, which should help the automaker achieve its goal of selling 1.87 million EVs per year by 2030. According to the co-CEO, Jaehoon Chang, the company is on the right track to achieve this goal which would represent 11% of the US market, and 7% of the global market. Challenges remain Bigger challenges come with a bigger scale.