Hyundai to phase-out IC-engines globally by 2040

The Korean carmaker also stated that they are aiming to achieve 100 per cent carbon neutrality by 2045.

Hyundai has announced its global electrification plans at the ongoing 2021 IAA Mobility Show in Munich, Germany. The South Korean carmaker announced its plans to phase out the sales of all IC-engine powered vehicles across all major markets by 2040.

Hyundai will start with Europe, aiming to phase out sales of all IC-engine powered vehicles in the continent by 2035. The company, over the next 5 years (by 2040) will expand its zero-emission vehicles (ZEVs) line-up to other major markets around the world as well.

The Korean carmaker also stated that they are aiming to achieve 100 per cent carbon neutrality by 2045. To reach this milestone, Hyundai has set up short term goals, which include having 30% of its global sales coming from zero-emission vehicles by 2030, which will increase to 80% by 2040.

Hyundai will offer both battery-powered electric vehicles and hydrogen fuel cell vehicles. At present, Hyundai has the Ioniq 5 in its BEV range and is currently working on other models that will be part of the 'Ioniq' sub-brand for BEVs.

In terms of its FCEV line-up, Hyundai currently sells the Nexo SUV. Although, the company has announced two new hydrogen-powered models for the future - an MPV in 2023 and a large SUV sometime around 2025.