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In its New Year 2020 ceremony held in Seoul, Hyundai Motor Group on Wednesday underlined its commitment towards vehicle electrification, autonomous driving and mobility services, and said that it plans to operate 44 electrified models in the next five years.

Euisun Chung, Executive Vice Chairman at Hyundai Motor Group, said in his address that the company is taking huge strides to secure its leadership in future industries such as electrification, autonomous driving and mobility services. He also expounded Hyundai's objectives for this year and beyond as achieving innovations in technology, business, corporate culture and customer prioritization.

Through a new EV architecture development system, Hyundai Motor Group will innovate its cost structure for electric vehicles by sharing components in their application to various models. It will also increase profitability and volume of each model through lineup optimization.

Hyundai Motor Group will invest more than KRW 100 trillion over next five years with Chung saying that 11 of the 44 electrified vehicles by 2025 would be BEVs (Battery Electric Vehicles). He asked employees of the company to adopt a 'creative mindset' and 'enterprising will' like that of a startup entrepreneur.

Also included in the 2020 New Year’s message was the plan to actively pursue new technologies and projects that can provide human-centered smart mobility solutions in a wide range of areas, including robotics, Urban Air Mobility (UAM) based on the use Personal Air Vehicles (PAV) and smart city solutions, all of which would progress alongside automobile-based innovations.