Hyundai's outlook for the Canadian car market, particularly for electric vehicles (EVs), remains optimistic despite a slowdown in demand in the United States. Don Romano, CEO of Hyundai Auto Canada Corp., highlighted strong demand for EVs in Canada, with pent-up demand still evident. This contrasts with the U.S. market, where demand is decreasing, inventories are rising, and some companies are scaling back production, leading to declines in stock prices for EV manufacturers like Tesla.
Hyundai Motor Co. is actively expanding its EV offerings, with plans to introduce more than 17 new battery-electric vehicles by 2030, including 11 models under the Hyundai brand and six under its luxury arm, Genesis. The company already boasts a robust lineup of BEVs, including popular models such as the Kona EV, Ioniq 5, Ioniq 6, and the upcoming Ioniq 7 SUV expected in 2024. Additionally, Hyundai unveiled its first high-performance all-electric vehicle, the 2025 Ioniq 5 N, at the 2023 Los Angeles Auto Show, further showcasing its commitment to electric mobility.
Hyundai's strategic focus on expanding its electric vehicle portfolio aligns with the growing demand for clean and sustainable transportation solutions. By offering a diverse range of electric vehicles across different segments, Hyundai aims to capitalize on the anticipated growth of the EV market in Canada and solidify its position as a leader in electric mobility.
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