Toronto, Ontario — In this week’s EV/AV report, automakers Hyundai Motor and Kia Motors raise stakes in the EV market, a B.C. program provides heightened support for businesses in the electric vehicle sector, and a new partnership forms to produce self-driving semi-trucks.
Hyundai Motor and Kia Motors aim to sell 1 million electric vehicles in 2025, together targeting more than 10 percent of global market share of EVs.
Hyundai Motor is planning to launch a next-generation electric vehicle with a driving range of 280 miles per charge and charging time of 20 minutes. It aims to export 1,600 hydrogen-powered trucks to Europe by 2025, and develop a new system that doubles battery life at half the price.
This announcement came at the same time South Korea put forward a plan to spend 114.1 trillion won on a new deal to create jobs and to help the economy recover from the coronavirus fallout, anchored in part by investment in electric vehicles and hydrogen cars.
South Korea aims to have 1.13 million EVs and 200,000 hydrogen cars on the road by 2025. While requiring the government to add more charging stations for the vehicles.
Seoul said it would invest 2.6 trillion won on its own version of the Green New Deal, and set a 2035 deadline to stop registration of vehicles with internal combustion engines.
Under the CleanBC Advanced Research & Commercialization Program (ARC) companies that are developing new technologies in the electric vehicle sector can now apply for $4.18 million in new funding. This program provides targeted funding for R&D, demonstration and commercialization of made-in-B.C. technologies, services and products.
The EV sector includes roughly 250 companies from a variety of backgrounds in the EV supply chain—from raw materials to final consumer products—related to EVs and EV components, batteries and fuel cells, charging stations and more.
Submissions for funding to the ARC program will be reviewed by a panel that includes experts from the province, local and federal governments, and B.C. post-secondary institutions.
The ARC program which was created in 2018 provides funding to many EV related B.C. companies. The program awarded $1.19 million to five approved projects last year.
Self-driving truck partnership
Navistar and TuSimple have announced plans to develop and begin producing autonomous semi trucks by 2024.
The partnership involves Navistar taking a stake in self-driving trucks startup TuSimple. The idea is to move away from the Navistar International commercial trucks that TuSimple currently uses and instead develop semi trucks designed for autonomous operations.
Customers will eventually be able to purchase the fully autonomous trucks through Navistar’s sales channels in the United States, Canada and Mexico.
The partnership is important for both companies as TuSimple needs a dedicated truck manufacturer where it can use its technology platform if it hopes to launch driverless commercial operations that are safe and profitable. Navistar is also hoping TuSimple is the company that will help it stand out and so they can get ahead of OEM competitors Daimler Trucks North America and Volvo Group.
TuSimple says it plans to demonstrate completely driverless operations in 2021.