Hyundai to phase out ICE vehicles in most markets by 2040

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The days of internal combustion engines are numbered. More and more automakers are moving away from internal combustion engines in favor of cleaner electric motors. Following Ford, General Motors, Audi and Mercedes, the Korean auto giant Hyundai took the electrification course.

As part of the Munich Motor Show that kicked off on August 7, Hyundai announced plans to phase out internal combustion engines. The transition to the production of electric vehicles will not be abrupt, but gradual. The first market in which the Korean brand will abandon gasoline and diesel engines will be Europe. There Hyundai plans to stop selling cars with internal combustion engines by 2035. This, however, is not surprising, given that the European Commission is now considering a new bill, which, if approved, will actually impose a ban on the sale of cars with traditional powertrains in Europe by the middle of the next decade.

Hyundai plans to phase out ICEs in most major markets by 2040. By this time, electric vehicles will account for up to 80% of total annual sales. And by the end of this decade, Hyundai expects that cars with electric motors will account for about 30% of total sales. The company also expects that by 2045 all divisions and factories of the company will completely switch to the use of energy from renewable sources.

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